Long Path Partners LP Has $42.53 Million Stock Position in Corpay, Inc. (NYSE:CPAY)

Long Path Partners LP decreased its position in shares of Corpay, Inc. (NYSE:CPAY) by 3.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 135,972 shares of the company’s stock after selling 4,688 shares during the period. Corpay makes up 13.8% of Long Path Partners LP’s holdings, making the stock its 2nd biggest position. Long Path Partners LP owned 0.20% of Corpay worth $42,527,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Albion Financial Group UT acquired a new stake in shares of Corpay in the third quarter valued at approximately $27,000. LGT Financial Advisors LLC bought a new position in Corpay during the 2nd quarter worth $33,000. Blue Trust Inc. raised its holdings in Corpay by 246.2% in the 2nd quarter. Blue Trust Inc. now owns 135 shares of the company’s stock valued at $36,000 after acquiring an additional 96 shares in the last quarter. Innealta Capital LLC bought a new stake in shares of Corpay during the 2nd quarter valued at $36,000. Finally, Whittier Trust Co. of Nevada Inc. acquired a new stake in shares of Corpay during the 2nd quarter worth $40,000. Institutional investors and hedge funds own 98.84% of the company’s stock.

Corpay Price Performance

Corpay stock opened at $379.87 on Friday. The stock has a 50-day moving average price of $338.38 and a two-hundred day moving average price of $301.23. Corpay, Inc. has a 12 month low of $230.68 and a 12 month high of $380.00. The company has a market capitalization of $26.48 billion, a PE ratio of 27.09, a P/E/G ratio of 1.47 and a beta of 1.21. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 1.69.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on CPAY shares. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $310.00 price target on shares of Corpay in a research note on Thursday, August 8th. Keefe, Bruyette & Woods boosted their target price on shares of Corpay from $380.00 to $400.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Raymond James reduced 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. Morgan Stanley upped their target price on Corpay from $325.00 to $350.00 and gave the stock an “equal weight” rating in a research note on Monday, November 11th. Finally, JPMorgan Chase & Co. lifted their price target on Corpay from $327.00 to $353.00 and gave the company an “overweight” rating in a research note on Tuesday, August 20th. 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. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $363.93.

Insider Activity

In related news, Director Joseph W. Farrelly sold 2,975 shares of the business’s stock in a transaction 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 owns 10,530 shares of the company’s stock, valued at $3,950,645.40. The trade was a 22.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Alissa B. Vickery sold 8,000 shares of the stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $370.04, for a total value of $2,960,320.00. Following the completion of the sale, the chief accounting officer now owns 1,797 shares of the company’s stock, valued at $664,961.88. The trade was a 81.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 6.10% of the stock is currently owned by insiders.

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.