Goodman Financial Corp Boosts Position in Corpay, Inc. (NYSE:CPAY)

Goodman Financial Corp lifted its stake in shares of Corpay, Inc. (NYSE:CPAY) by 0.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 51,784 shares of the company’s stock after acquiring an additional 372 shares during the quarter. Corpay makes up approximately 3.6% of Goodman Financial Corp’s holdings, making the stock its 5th biggest position. Goodman Financial Corp’s holdings in Corpay were worth $16,196,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Albion Financial Group UT purchased a new stake in Corpay in the 3rd quarter worth $27,000. LGT Financial Advisors LLC bought a new position in shares of Corpay in the second quarter worth about $33,000. Blue Trust Inc. boosted its stake in shares of Corpay by 246.2% in the second quarter. Blue Trust Inc. now owns 135 shares of the company’s stock worth $36,000 after acquiring an additional 96 shares during the period. Innealta Capital LLC bought a new stake in Corpay during the 2nd quarter valued at approximately $36,000. Finally, Whittier Trust Co. of Nevada Inc. bought a new stake in Corpay during the 2nd quarter valued at approximately $40,000. 98.84% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have weighed in on CPAY. Keefe, Bruyette & Woods upped their price target on Corpay from $380.00 to $400.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Barclays upped their target price on shares of Corpay from $385.00 to $415.00 and gave the stock an “overweight” rating in a research report on Monday, October 28th. JPMorgan Chase & Co. lifted their price target on shares of Corpay from $327.00 to $353.00 and gave the company an “overweight” rating in a report on Tuesday, August 20th. Citigroup increased their price objective on shares of Corpay from $405.00 to $430.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Finally, Wolfe Research raised Corpay from an “underperform” rating to a “peer perform” rating in a report on Tuesday, September 3rd. Four analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Corpay currently has an average rating of “Moderate Buy” and a consensus price target of $363.93.

Corpay Price Performance

NYSE:CPAY opened at $382.19 on Tuesday. The firm has a market capitalization of $26.64 billion, a price-to-earnings ratio of 27.21, a PEG ratio of 1.49 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. The business has a 50 day simple moving average of $339.86 and a 200-day simple moving average of $301.90. Corpay, Inc. has a 1 year low of $230.68 and a 1 year high of $385.30.

Insider Activity at Corpay

In related news, Director Joseph W. Farrelly sold 2,975 shares of the company’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $375.18, for a total transaction of $1,116,160.50. Following the transaction, the director now directly owns 10,530 shares in the company, valued at approximately $3,950,645.40. This represents a 22.03 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Alissa B. Vickery sold 8,000 shares of the firm’s stock in a transaction dated 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 completion of the sale, the chief accounting officer now directly owns 1,797 shares of the company’s stock, 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. 6.10% of the stock is currently owned by insiders.

Corpay Company 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.