Victory Capital Management Inc. Has $48.38 Million Stock Position in Corpay, Inc. (NYSE:CPAY)

Victory Capital Management Inc. lifted its stake in Corpay, Inc. (NYSE:CPAY) by 0.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 154,698 shares of the company’s stock after acquiring an additional 1,339 shares during the period. Victory Capital Management Inc.’s holdings in Corpay were worth $48,383,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Albion Financial Group UT acquired a new stake in Corpay during the third quarter worth $27,000. Headlands Technologies LLC acquired a new stake in Corpay during the first quarter worth $31,000. LGT Financial Advisors LLC acquired a new stake in Corpay during the second quarter worth $33,000. Innealta Capital LLC acquired a new stake in Corpay during the second quarter worth $36,000. Finally, Blue Trust Inc. boosted its stake in Corpay by 246.2% during the second quarter. Blue Trust Inc. now owns 135 shares of the company’s stock worth $36,000 after buying an additional 96 shares in the last quarter. Institutional investors and hedge funds own 98.84% of the company’s stock.

Corpay Stock Performance

Shares of NYSE:CPAY opened at $363.36 on Friday. The stock has a market capitalization of $25.33 billion, a P/E ratio of 25.92, a P/E/G ratio of 1.44 and a beta of 1.21. Corpay, Inc. has a 1-year low of $230.68 and a 1-year high of $375.98. The company has a current ratio of 1.05, a quick ratio of 1.02 and a debt-to-equity ratio of 1.69. The business has a 50-day moving average price of $330.77 and a two-hundred day moving average price of $298.37.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on CPAY. Raymond James decreased their price target on shares of Corpay from $330.00 to $311.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. William Blair upgraded shares of Corpay to a “strong-buy” rating in a research note on Thursday, August 8th. Jefferies Financial Group boosted their target price on shares of Corpay from $375.00 to $425.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. JPMorgan Chase & Co. boosted their target price on shares of Corpay from $327.00 to $353.00 and gave the company an “overweight” rating in a research note on Tuesday, August 20th. Finally, Bank of America boosted their target price on shares of Corpay from $344.00 to $375.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. Four research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Corpay presently has an average rating of “Moderate Buy” and an average target price of $363.93.

Insiders Place Their Bets

In other news, Director Joseph W. Farrelly sold 2,975 shares of the company’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $375.18, for a total value of $1,116,160.50. Following the completion of the sale, the director now directly owns 10,530 shares of the company’s stock, valued at $3,950,645.40. This represents a 22.03 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 6.10% of the company’s stock.

Corpay Company Profile

Corpay, Inc operates as a payments company that helps businesses and consumers manage vehicle-related expenses, lodging expenses, and corporate payments in the United States, Brazil, the United Kingdom, and internationally. The company offers vehicle payment solutions, which include fuel, tolls, parking, fleet maintenance, and long-haul transportation services, as well as prepaid food and transportation vouchers and cards.