Daiwa Securities Group Inc. Acquires 678 Shares of Corpay, Inc. (NYSE:CPAY)

Daiwa Securities Group Inc. increased its holdings in Corpay, Inc. (NYSE:CPAY) by 8.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,343 shares of the company’s stock after acquiring an additional 678 shares during the period. Daiwa Securities Group Inc.’s holdings in Corpay were worth $2,609,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Swedbank AB raised its stake in shares of Corpay by 46.3% in the third quarter. Swedbank AB now owns 186,117 shares of the company’s stock worth $58,210,000 after purchasing an additional 58,900 shares during the last quarter. Cerity Partners LLC grew its holdings in Corpay by 17.3% during the third quarter. Cerity Partners LLC now owns 29,310 shares of the company’s stock worth $9,167,000 after buying an additional 4,315 shares in the last quarter. Camden National Bank purchased a new stake in Corpay in the 3rd quarter valued at $237,000. Eagle Asset Management Inc. lifted its stake in Corpay by 2.4% during the 3rd quarter. Eagle Asset Management Inc. now owns 357,397 shares of the company’s stock valued at $111,779,000 after acquiring an additional 8,378 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Corpay by 0.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 458,477 shares of the company’s stock worth $143,393,000 after acquiring an additional 1,749 shares during the last quarter. Institutional investors own 98.84% of the company’s stock.

Corpay Trading Down 0.4 %

Shares of CPAY opened at $380.60 on Thursday. Corpay, Inc. has a twelve month low of $231.30 and a twelve month high of $385.30. The stock has a market cap of $26.53 billion, a PE ratio of 27.15, a P/E/G ratio of 1.49 and a beta of 1.21. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 1.69. The business’s 50-day moving average price is $342.82 and its 200-day moving average price is $303.14.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on CPAY. Morgan Stanley increased their target price on shares of Corpay from $325.00 to $350.00 and gave the company an “equal weight” rating in a report on Monday, November 11th. Citigroup lifted their target price on shares of Corpay from $405.00 to $430.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $310.00 target price on shares of Corpay in a report on Thursday, August 8th. JPMorgan Chase & Co. lifted their price target on Corpay from $327.00 to $353.00 and gave the stock an “overweight” rating in a report on Tuesday, August 20th. Finally, William Blair upgraded Corpay to a “strong-buy” rating in a research note on Thursday, August 8th. Four analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Corpay has a consensus rating of “Moderate Buy” and a consensus price target of $363.93.

Insider Activity at Corpay

In related news, Director Joseph W. Farrelly sold 2,975 shares of Corpay stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $375.18, for a total transaction of $1,116,160.50. Following the completion of the sale, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Alissa B. Vickery sold 8,000 shares of the company’s 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. This represents 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 owned by corporate insiders.

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.