Corpay, Inc. (NYSE:CPAY) Sees Large Increase in Short Interest

Corpay, Inc. (NYSE:CPAY) was the recipient of a significant increase in short interest in November. As of November 30th, there was short interest totalling 1,410,000 shares, an increase of 6.0% from the November 15th total of 1,330,000 shares. Based on an average trading volume of 496,800 shares, the days-to-cover ratio is currently 2.8 days. Currently, 2.1% of the shares of the stock are short sold.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on CPAY. Citigroup boosted their price target on shares of Corpay from $405.00 to $430.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Keefe, Bruyette & Woods boosted their target price on shares of Corpay from $400.00 to $425.00 and gave the company an “outperform” rating in a report on Monday, December 9th. JPMorgan Chase & Co. increased their price target on Corpay from $327.00 to $353.00 and gave the stock an “overweight” rating in a report on Tuesday, August 20th. BMO Capital Markets boosted their price objective on Corpay from $400.00 to $440.00 and gave the company an “outperform” rating in a research note on Friday. Finally, Wells Fargo & Company raised their target price on Corpay from $285.00 to $320.00 and gave the stock an “equal weight” rating in a research note on Monday, October 21st. Four equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $369.29.

Corpay Stock Down 1.6 %

CPAY traded down $5.62 during trading on Tuesday, hitting $352.10. 369,159 shares of the company’s stock were exchanged, compared to its average volume of 470,543. The stock has a market cap of $24.55 billion, a P/E ratio of 25.11, a PEG ratio of 1.43 and a beta of 1.24. The business’s 50 day moving average is $356.97 and its two-hundred day moving average is $312.53. Corpay has a fifty-two week low of $247.10 and a fifty-two week high of $385.30. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 1.69.

Insiders Place Their Bets

In other news, CAO Alissa B. Vickery sold 8,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $370.04, for a total value of $2,960,320.00. Following the completion of the transaction, the chief accounting officer now owns 1,797 shares of the company’s stock, valued at $664,961.88. This represents a 81.66 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Joseph W. Farrelly sold 2,975 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $375.18, for a total transaction of $1,116,160.50. Following the sale, the director now directly owns 10,530 shares in the company, valued at $3,950,645.40. The trade was a 22.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 6.10% of the company’s stock.

Hedge Funds Weigh In On Corpay

Several large investors have recently added to or reduced their stakes in the business. Albion Financial Group UT bought a new stake in Corpay during the third quarter worth $27,000. LGT Financial Advisors LLC bought a new stake in shares of Corpay in the 2nd quarter worth $33,000. Huntington National Bank raised its holdings in shares of Corpay by 43.0% in the third quarter. Huntington National Bank now owns 133 shares of the company’s stock valued at $42,000 after purchasing an additional 40 shares during the last quarter. Innealta Capital LLC bought a new position in shares of Corpay during the second quarter valued at about $36,000. Finally, Quarry LP purchased a new position in Corpay during the third quarter worth about $42,000. Institutional investors own 98.84% 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.