Corpay, Inc. (NYSE:CPAY) Stake Reduced by Swiss National Bank

Swiss National Bank trimmed its stake in Corpay, Inc. (NYSE:CPAY) by 1.9% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 198,200 shares of the company’s stock after selling 3,900 shares during the quarter. Swiss National Bank owned approximately 0.29% of Corpay worth $61,989,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of CPAY. Ceera Investments LLC increased its holdings in shares of Corpay by 22.8% in the 3rd quarter. Ceera Investments LLC now owns 16,258 shares of the company’s stock worth $5,085,000 after acquiring an additional 3,022 shares during the period. Natixis Advisors LLC increased its stake in shares of Corpay by 94.3% in the third quarter. Natixis Advisors LLC now owns 27,453 shares of the company’s stock valued at $8,586,000 after purchasing an additional 13,322 shares during the period. Mizuho Securities USA LLC raised its holdings in shares of Corpay by 728.1% during the third quarter. Mizuho Securities USA LLC now owns 44,889 shares of the company’s stock valued at $14,039,000 after buying an additional 39,468 shares during the last quarter. Empirical Finance LLC boosted its position in shares of Corpay by 1.8% during the third quarter. Empirical Finance LLC now owns 2,493 shares of the company’s stock worth $780,000 after buying an additional 43 shares during the period. Finally, CIBC Asset Management Inc grew its holdings in Corpay by 7.3% in the 3rd quarter. CIBC Asset Management Inc now owns 10,196 shares of the company’s stock worth $3,189,000 after buying an additional 691 shares in the last quarter. Institutional investors and hedge funds own 98.84% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. William Blair raised Corpay to a “strong-buy” rating in a research note on Thursday, August 8th. Keefe, Bruyette & Woods lifted their price objective on shares of Corpay from $380.00 to $400.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. BMO Capital Markets increased their target price on shares of Corpay from $350.00 to $390.00 and gave the company an “outperform” rating in a research report on Thursday, October 3rd. Raymond James dropped their price target on shares of Corpay from $330.00 to $311.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Finally, Citigroup upped their price target on shares of Corpay from $405.00 to $430.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Four equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Corpay has an average rating of “Moderate Buy” and an average target price of $363.93.

Corpay Stock Performance

Shares of CPAY opened at $368.16 on Wednesday. The company has a 50-day moving average of $334.29 and a two-hundred day moving average of $299.71. The stock has a market cap of $25.66 billion, a price-to-earnings ratio of 26.26, a PEG ratio of 1.42 and a beta of 1.21. The company has a debt-to-equity ratio of 1.69, a current ratio of 1.05 and a quick ratio of 1.05. Corpay, Inc. has a one year low of $230.68 and a one year high of $375.98.

Insider Buying and Selling

In other news, Director Joseph W. Farrelly sold 2,975 shares of the stock in a transaction on 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 owns 10,530 shares in the company, valued at $3,950,645.40. This represents a 22.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 6.10% of the company’s stock.

Corpay 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.