First Horizon Advisors Inc. Increases Holdings in Corpay, Inc. (NYSE:CPAY)

First Horizon Advisors Inc. raised its holdings in shares of Corpay, Inc. (NYSE:CPAY) by 4.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,825 shares of the company’s stock after purchasing an additional 81 shares during the period. First Horizon Advisors Inc.’s holdings in Corpay were worth $571,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the business. Albion Financial Group UT bought a new position in shares of Corpay during the third quarter valued at approximately $27,000. LGT Financial Advisors LLC purchased a new stake in shares of Corpay in the 2nd quarter worth about $33,000. Huntington National Bank boosted its stake in shares of Corpay by 43.0% during the 3rd quarter. Huntington National Bank now owns 133 shares of the company’s stock valued at $42,000 after purchasing an additional 40 shares in the last quarter. Innealta Capital LLC purchased a new position in shares of Corpay during the second quarter valued at about $36,000. Finally, Blue Trust Inc. raised its stake in Corpay by 246.2% in the second quarter. Blue Trust Inc. now owns 135 shares of the company’s stock worth $36,000 after buying an additional 96 shares in the last quarter. 98.84% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Corpay

In other 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 value of $1,116,160.50. Following the completion of the sale, the director now directly owns 10,530 shares in the company, valued at $3,950,645.40. This represents a 22.03 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Alissa B. Vickery sold 8,000 shares of the business’s stock in a transaction dated 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 sale, the chief accounting officer now directly owns 1,797 shares of the company’s stock, valued at $664,961.88. This 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.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on CPAY. BMO Capital Markets upped their target price on Corpay from $350.00 to $390.00 and gave the stock an “outperform” rating in a report on Thursday, October 3rd. Wolfe Research raised Corpay from an “underperform” rating to a “peer perform” rating in a research report on Tuesday, September 3rd. Raymond James reduced their target price 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. Keefe, Bruyette & Woods lifted their price target 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. Finally, William Blair raised shares of Corpay to a “strong-buy” rating in a research note on Thursday, August 8th. Four investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $363.93.

Corpay Trading Up 1.6 %

Shares of CPAY stock opened at $375.01 on Friday. The stock has a market capitalization of $26.14 billion, a P/E ratio of 26.75, a P/E/G ratio of 1.44 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. Corpay, Inc. has a 12-month low of $230.68 and a 12-month high of $377.97. The firm’s 50 day moving average is $336.93 and its 200 day moving average is $300.72.

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.