Peapack Gladstone Financial Corp Buys 113 Shares of Corpay, Inc. (NYSE:CPAY)

Peapack Gladstone Financial Corp boosted its stake in shares of Corpay, Inc. (NYSE:CPAY) by 0.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 40,416 shares of the company’s stock after purchasing an additional 113 shares during the period. Peapack Gladstone Financial Corp owned about 0.06% of Corpay worth $12,640,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. FMR LLC raised its stake in Corpay by 3.0% during the 3rd quarter. FMR LLC now owns 2,692,847 shares of the company’s stock valued at $842,215,000 after buying an additional 78,880 shares during the last quarter. Geode Capital Management LLC increased its position in Corpay by 1.4% during the third quarter. Geode Capital Management LLC now owns 1,677,899 shares of the company’s stock valued at $523,061,000 after acquiring an additional 23,275 shares during the last quarter. Mawer Investment Management Ltd. lifted its holdings in Corpay by 1.1% in the second quarter. Mawer Investment Management Ltd. now owns 1,177,297 shares of the company’s stock valued at $313,644,000 after acquiring an additional 12,338 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Corpay by 10.9% in the second quarter. Dimensional Fund Advisors LP now owns 718,752 shares of the company’s stock valued at $191,497,000 after acquiring an additional 70,408 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in Corpay by 0.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 458,477 shares of the company’s stock worth $143,393,000 after purchasing an additional 1,749 shares during the last quarter. Hedge funds and other institutional investors own 98.84% of the company’s stock.

Corpay Stock Performance

NYSE:CPAY opened at $357.10 on Friday. The stock has a 50-day moving average price of $356.18 and a 200 day moving average price of $310.63. The stock has a market capitalization of $24.89 billion, a P/E ratio of 25.47, a P/E/G ratio of 1.43 and a beta of 1.24. Corpay, Inc. has a 12-month low of $247.10 and a 12-month high of $385.30. 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 Ratings Changes

Several equities research analysts have recently commented on the stock. Morgan Stanley upped their price target on shares of Corpay from $325.00 to $350.00 and gave the company an “equal weight” rating in a research report on Monday, November 11th. Keefe, Bruyette & Woods upped their target price on shares of Corpay from $400.00 to $425.00 and gave the company an “outperform” rating in a report on Monday, December 9th. Citigroup lifted 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. Jefferies Financial Group boosted their price objective on shares of Corpay from $375.00 to $425.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Finally, Wolfe Research raised Corpay from an “underperform” rating to a “peer perform” rating in a report on Tuesday, September 3rd. Four equities research 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $369.29.

Insiders Place Their Bets

In other news, Director Joseph W. Farrelly sold 2,975 shares of Corpay stock in a transaction dated 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 sale, the director now directly 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Alissa B. Vickery sold 8,000 shares of the stock in a transaction that occurred 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 transaction, 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 ownership of the stock. The disclosure for this sale can be found here. 6.10% of the stock is currently owned by corporate insiders.

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.