Valley National Advisers Inc. increased its holdings in Corpay, Inc (NYSE:CPAY – Free Report) by 40,105.9% in the 3rd quarter, Holdings Channel reports. The fund owned 6,835 shares of the corporate payments company’s stock after buying an additional 6,818 shares during the quarter. Valley National Advisers Inc.’s holdings in Corpay were worth $2,428,000 as of its most recent SEC filing.
Other large investors also recently bought and sold shares of the company. Radnor Capital Management LLC boosted its stake in Corpay by 14.9% during the third quarter. Radnor Capital Management LLC now owns 11,355 shares of the corporate payments company’s stock worth $4,362,000 after acquiring an additional 1,470 shares in the last quarter. Signaturefd LLC grew its holdings in Corpay by 172.9% in the third quarter. Signaturefd LLC now owns 1,542 shares of the corporate payments company’s stock worth $569,000 after purchasing an additional 977 shares during the period. Citizens Financial Group Inc. RI grew its holdings in Corpay by 1,373.1% in the third quarter. Citizens Financial Group Inc. RI now owns 15,350 shares of the corporate payments company’s stock worth $5,521,000 after purchasing an additional 14,308 shares during the period. Sowell Financial Services LLC purchased a new stake in Corpay in the third quarter worth about $373,000. Finally, Kendall Capital Management increased its stake in shares of Corpay by 0.9% during the third quarter. Kendall Capital Management now owns 4,460 shares of the corporate payments company’s stock valued at $1,733,000 after purchasing an additional 40 shares in the last quarter. 98.84% of the stock is owned by hedge funds and other institutional investors.
Corpay Stock Performance
Shares of CPAY stock opened at $408.95 on Friday. Corpay, Inc has a one year low of $252.84 and a one year high of $427.46. The company’s 50-day moving average is $404.60 and its 200 day moving average is $372.37. The company has a market capitalization of $26.85 billion, a price-to-earnings ratio of 24.89, a price-to-earnings-growth ratio of 1.12 and a beta of 0.89. The company has a debt-to-equity ratio of 1.70, a quick ratio of 0.97 and a current ratio of 0.97.
Insider Activity at Corpay
In other news, CEO Ronald Clarke sold 119,486 shares of the stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $412.40, for a total transaction of $49,276,026.40. Following the sale, the chief executive officer owned 2,354,330 shares in the company, valued at $970,925,692. This represents a 4.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Steven Stull sold 4,000 shares of the stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $410.66, for a total transaction of $1,642,640.00. Following the sale, the director owned 23,598 shares in the company, valued at approximately $9,690,754.68. The trade was a 14.49% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 220,860 shares of company stock worth $91,395,514. Insiders own 5.19% of the company’s stock.
Analyst Ratings Changes
Several equities analysts have recently issued reports on CPAY shares. Robert W. Baird set a $475.00 target price on shares of Corpay in a report on Thursday, August 6th. Wolfe Research boosted their price target on Corpay from $475.00 to $530.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 25th. Royal Bank Of Canada upped their price target on Corpay from $423.00 to $438.00 and gave the stock a “sector perform” rating in a research note on Monday, August 31st. Raymond James Financial reaffirmed an “outperform” rating and set a $442.00 price objective on shares of Corpay in a research report on Thursday, August 6th. Finally, Keefe, Bruyette & Woods raised their price objective on Corpay from $400.00 to $470.00 and gave the company an “outperform” rating in a research report on Thursday, August 6th. Twelve analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $438.93.
Read Our Latest Stock Report on Corpay
Corpay Profile
Corpay is a global corporate payments company that provides businesses with a range of payment and expense management solutions. Its services are designed to help organizations manage payables, card programs, travel and fleet-related expenses, and cross-border transactions more efficiently.
The company serves customers across a variety of industries and geographies, offering software and payment tools that streamline accounts payable, vendor payments, and workforce payments. Corpay also provides specialized solutions for fleet management and international payments, helping businesses control costs and simplify financial operations.
Corpay operates as part of the broader financial technology and payment processing sector.
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