11,442 Shares in Corpay, Inc. (NYSE:CPAY) Purchased by Artemis Investment Management LLP

Artemis Investment Management LLP acquired a new stake in shares of Corpay, Inc. (NYSE:CPAY) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 11,442 shares of the company’s stock, valued at approximately $3,872,000.

Other large investors also recently modified their holdings of the company. International Assets Investment Management LLC bought a new position in shares of Corpay during the 3rd quarter worth approximately $40,497,000. JPMorgan Chase & Co. raised its stake in Corpay by 2.3% during the third quarter. JPMorgan Chase & Co. now owns 5,287,311 shares of the company’s stock worth $1,653,659,000 after acquiring an additional 120,578 shares in the last quarter. Prana Capital Management LP bought a new position in shares of Corpay during the third quarter valued at $31,541,000. FMR LLC boosted its stake in shares of Corpay by 3.0% in the 3rd quarter. FMR LLC now owns 2,692,847 shares of the company’s stock valued at $842,215,000 after purchasing an additional 78,880 shares in the last quarter. Finally, Stanley Capital Management LLC bought a new stake in shares of Corpay in the 2nd quarter worth about $18,593,000. 98.84% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Wells Fargo & Company lifted their price target on shares of Corpay from $340.00 to $375.00 and gave the company an “equal weight” rating in a report on Thursday. Jefferies Financial Group lifted 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. Bank of America increased their price target on Corpay from $344.00 to $375.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. BMO Capital Markets raised their price target on Corpay from $400.00 to $440.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Finally, Citigroup started coverage on Corpay in a research note on Tuesday, January 14th. They issued a “buy” rating and a $430.00 price objective on the stock. Three analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $381.43.

Insider Activity at Corpay

In related news, Director Joseph W. Farrelly sold 2,975 shares of the stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $375.18, for a total value 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. This trade represents a 22.03 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Alissa B. Vickery sold 8,000 shares of Corpay stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $370.04, for a total transaction of $2,960,320.00. Following the transaction, the chief accounting officer now directly owns 1,797 shares in the company, valued at $664,961.88. The trade was a 81.66 % decrease in their position. The disclosure for this sale can be found here. 6.10% of the stock is currently owned by company insiders.

Corpay Stock Up 0.2 %

Shares of NYSE CPAY opened at $370.91 on Monday. Corpay, Inc. has a 1 year low of $247.10 and a 1 year high of $385.30. The firm’s 50-day moving average is $359.95 and its 200-day moving average is $326.26. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 1.69. The firm has a market capitalization of $25.86 billion, a PE ratio of 26.46, a price-to-earnings-growth ratio of 1.17 and a beta of 1.26.

About Corpay

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.