Corpay, Inc. (NYSE:CPAY) Shares Bought by Victory Capital Management Inc.

Victory Capital Management Inc. increased its position in Corpay, Inc. (NYSE:CPAY) by 0.9% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 154,698 shares of the company’s stock after acquiring an additional 1,339 shares during the period. Victory Capital Management Inc. owned approximately 0.22% of Corpay worth $48,383,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Albion Financial Group UT acquired a new position in Corpay during the 3rd quarter valued at about $27,000. Headlands Technologies LLC acquired a new position in Corpay during the 1st quarter valued at about $31,000. LGT Financial Advisors LLC bought a new position in shares of Corpay during the 2nd quarter valued at about $33,000. Blue Trust Inc. boosted its position in shares of Corpay by 246.2% during the 2nd 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. Finally, Innealta Capital LLC bought a new position in shares of Corpay during the 2nd quarter valued at about $36,000. Institutional investors and hedge funds own 98.84% of the company’s stock.

Insider Activity at Corpay

In related news, 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 transaction of $1,116,160.50. Following the transaction, the director now owns 10,530 shares of the company’s stock, valued at approximately $3,950,645.40. This trade represents a 22.03 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 6.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CPAY. Keefe, Bruyette & Woods raised their price objective 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. Bank of America raised their price objective on shares of Corpay from $344.00 to $375.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. Citigroup raised their price objective on shares of Corpay from $405.00 to $430.00 and gave the company a “buy” rating in a research report on Thursday. William Blair upgraded shares of Corpay to a “strong-buy” rating in a report on Thursday, August 8th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $310.00 target price on shares of Corpay in a 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 stock. According to data from MarketBeat.com, Corpay has a consensus rating of “Moderate Buy” and an average price target of $363.93.

Corpay Stock Performance

CPAY stock opened at $363.36 on Friday. The company has a debt-to-equity ratio of 1.69, a quick ratio of 1.02 and a current ratio of 1.05. The stock has a market cap of $25.33 billion, a P/E ratio of 25.92, a P/E/G ratio of 1.44 and a beta of 1.21. The firm has a 50 day simple moving average of $330.77 and a 200 day simple moving average of $298.37. Corpay, Inc. has a 52 week low of $230.68 and a 52 week high of $375.98.

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.