Main Management ETF Advisors LLC Acquires New Shares in Corpay, Inc. (NYSE:CPAY)

Main Management ETF Advisors LLC acquired a new stake in shares of Corpay, Inc. (NYSE:CPAY) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 3,104 shares of the company’s stock, valued at approximately $971,000.

Several other hedge funds also recently modified their holdings of CPAY. American Century Companies Inc. lifted its holdings in Corpay by 1,734.1% during the 2nd quarter. American Century Companies Inc. now owns 400,662 shares of the company’s stock worth $106,740,000 after buying an additional 378,817 shares during the period. TD Asset Management Inc acquired a new position in Corpay during the 2nd quarter worth about $41,475,000. Assenagon Asset Management S.A. acquired a new position in Corpay during the 2nd quarter worth about $35,655,000. International Assets Investment Management LLC acquired a new position in Corpay during the 3rd quarter worth about $40,497,000. Finally, Prana Capital Management LP acquired a new position in Corpay during the 3rd quarter worth about $31,541,000. Institutional investors and hedge funds own 98.84% of the company’s stock.

Insider Activity

In related news, Director Joseph W. Farrelly sold 2,975 shares of the company’s stock in a transaction 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 completion of the sale, the director now owns 10,530 shares in the company, valued at approximately $3,950,645.40. This represents a 22.03 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Alissa B. Vickery sold 8,000 shares of the company’s stock in a transaction 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 sale, the chief accounting officer now owns 1,797 shares of the company’s stock, valued at $664,961.88. This trade represents a 81.66 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 6.10% of the company’s stock.

Analyst Ratings Changes

CPAY has been the topic of several recent research reports. Wolfe Research raised Corpay from an “underperform” rating to a “peer perform” rating in a report on Tuesday, September 3rd. JPMorgan Chase & Co. raised their target price on Corpay from $327.00 to $353.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 20th. Jefferies Financial Group lifted their target price on Corpay from $375.00 to $425.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Bank of America lifted their target price on Corpay from $344.00 to $375.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. Finally, Barclays lifted their target price on Corpay from $385.00 to $415.00 and gave the stock an “overweight” rating in a report on Monday, October 28th. Four equities 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 has a consensus rating of “Moderate Buy” and an average target price of $363.93.

Corpay Trading Down 0.5 %

NYSE CPAY opened at $365.81 on Friday. The company has a market cap of $25.50 billion, a price-to-earnings ratio of 26.09, a P/E/G ratio of 1.45 and a beta of 1.24. Corpay, Inc. has a 52 week low of $247.10 and a 52 week high of $385.30. The business has a 50 day moving average price of $350.94 and a 200-day moving average price of $306.91. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 1.69.

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.