Commerce Bank Raises Stock Holdings in Corpay, Inc. (NYSE:CPAY)

Commerce Bank increased its stake in Corpay, Inc. (NYSE:CPAY) by 28.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 29,681 shares of the company’s stock after buying an additional 6,544 shares during the period. Commerce Bank’s holdings in Corpay were worth $9,283,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in CPAY. Albion Financial Group UT bought a new stake in Corpay in the 3rd quarter valued at about $27,000. LGT Financial Advisors LLC bought a new position in shares of Corpay in the second quarter worth $33,000. Blue Trust Inc. increased its holdings in shares of Corpay by 246.2% during the second quarter. Blue Trust Inc. now owns 135 shares of the company’s stock valued at $36,000 after purchasing an additional 96 shares during the period. Innealta Capital LLC bought a new stake in shares of Corpay during the second quarter valued at about $36,000. Finally, Whittier Trust Co. of Nevada Inc. acquired a new stake in Corpay in the second quarter worth about $40,000. 98.84% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Corpay

In related news, 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 value of $1,116,160.50. Following the completion of the sale, the director now owns 10,530 shares of the company’s stock, valued at approximately $3,950,645.40. The trade was a 22.03 % decrease in their position. 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 firm’s stock in a transaction that occurred on Wednesday, November 20th. The shares were 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 approximately $664,961.88. The trade was a 81.66 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 6.10% of the company’s stock.

Corpay Price Performance

NYSE CPAY opened at $375.01 on Friday. The company has a debt-to-equity ratio of 1.69, a current ratio of 1.05 and a quick ratio of 1.05. The firm has a market capitalization of $26.14 billion, a price-to-earnings ratio of 26.75, a price-to-earnings-growth ratio of 1.44 and a beta of 1.21. The company has a 50 day simple moving average of $336.93 and a 200-day simple moving average of $300.72. Corpay, Inc. has a 52-week low of $230.68 and a 52-week high of $377.97.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. JPMorgan Chase & Co. boosted their target price on Corpay from $327.00 to $353.00 and gave the stock an “overweight” rating in a report on Tuesday, August 20th. Wells Fargo & Company upped their price target on shares of Corpay from $285.00 to $320.00 and gave the company an “equal weight” rating in a report on Monday, October 21st. Royal Bank of Canada reiterated a “sector perform” rating and issued a $310.00 target price on shares of Corpay in a report on Thursday, August 8th. Keefe, Bruyette & Woods raised their price objective on Corpay from $380.00 to $400.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Finally, BMO Capital Markets increased their price target on Corpay from $350.00 to $390.00 and gave the company an “outperform” rating in a research report on Thursday, October 3rd. Four investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Corpay presently has an average rating of “Moderate Buy” and an average price target of $363.93.

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.