Eagle Asset Management Inc. Acquires 8,378 Shares of Corpay, Inc. (NYSE:CPAY)

Eagle Asset Management Inc. increased its stake in Corpay, Inc. (NYSE:CPAY) by 2.4% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 357,397 shares of the company’s stock after purchasing an additional 8,378 shares during the quarter. Eagle Asset Management Inc. owned about 0.51% of Corpay worth $111,779,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in CPAY. Albion Financial Group UT purchased a new stake in Corpay in the third quarter valued at approximately $27,000. LGT Financial Advisors LLC bought a new stake in shares of Corpay during the 2nd quarter valued at $33,000. Huntington National Bank grew its stake in shares of Corpay by 43.0% in the 3rd quarter. Huntington National Bank now owns 133 shares of the company’s stock worth $42,000 after buying an additional 40 shares during the last quarter. Innealta Capital LLC bought a new stake in Corpay during the 2nd quarter valued at about $36,000. Finally, Blue Trust Inc. lifted 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 in the last quarter. Hedge funds and other institutional investors own 98.84% of the company’s stock.

Corpay Trading Up 1.6 %

Shares of 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 P/E ratio of 26.75, a P/E/G ratio of 1.44 and a beta of 1.21. The business’s 50-day moving average is $336.93 and its 200 day moving average is $300.72. Corpay, Inc. has a 1 year low of $230.68 and a 1 year high of $377.97.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. William Blair upgraded shares of Corpay to a “strong-buy” rating in a research note on Thursday, August 8th. Wolfe Research raised Corpay from an “underperform” rating to a “peer perform” rating in a report on Tuesday, September 3rd. Barclays increased their target price on Corpay from $385.00 to $415.00 and gave the company an “overweight” rating in a report on Monday, October 28th. Keefe, Bruyette & Woods increased their price target on shares of Corpay from $380.00 to $400.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $310.00 price target on shares of Corpay in a research report on Thursday, August 8th. Four equities research 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.com, the company has an average rating of “Moderate Buy” and an average target price of $363.93.

Insider Activity

In related news, CAO Alissa B. Vickery sold 8,000 shares of Corpay stock in a transaction dated 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 completion of the transaction, the chief accounting officer now owns 1,797 shares in the company, valued at $664,961.88. The trade was a 81.66 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Joseph W. Farrelly sold 2,975 shares of the firm’s stock in a transaction that occurred on Wednesday, November 13th. The shares were 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 approximately $3,950,645.40. The trade was a 22.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 6.10% of the company’s stock.

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.