First Horizon Advisors Inc. Grows Stock Position in Corpay, Inc. (NYSE:CPAY)

First Horizon Advisors Inc. boosted its position in shares of Corpay, Inc. (NYSE:CPAY) by 4.6% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,825 shares of the company’s stock after buying an additional 81 shares during the quarter. First Horizon Advisors Inc.’s holdings in Corpay were worth $571,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of CPAY. Janney Montgomery Scott LLC bought a new position in Corpay during the 1st quarter valued at about $316,000. Blair William & Co. IL purchased a new stake in shares of Corpay in the first quarter worth approximately $516,000. Covestor Ltd bought a new stake in shares of Corpay during the 1st quarter worth approximately $65,000. Ameritas Investment Partners Inc. purchased a new position in Corpay during the 1st quarter valued at $247,000. Finally, O Shaughnessy Asset Management LLC bought a new position in Corpay in the 1st quarter valued at $486,000. Institutional investors own 98.84% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on CPAY shares. William Blair raised shares of Corpay to a “strong-buy” rating in a research note on Thursday, August 8th. Raymond James lowered their price objective on shares of Corpay from $330.00 to $311.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Morgan Stanley lifted their price target on shares of Corpay from $325.00 to $350.00 and gave the company an “equal weight” rating in a research note on Monday, November 11th. Wells Fargo & Company increased their price objective on Corpay from $285.00 to $320.00 and gave the stock an “equal weight” rating in a research note on Monday, October 21st. Finally, Citigroup lifted their target price on Corpay from $405.00 to $430.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Four research 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, the stock presently has an average rating of “Moderate Buy” and an average target price of $363.93.

Corpay Trading Up 1.6 %

Shares of NYSE CPAY opened at $375.01 on Friday. Corpay, Inc. has a 1-year low of $230.68 and a 1-year high of $377.97. The business has a fifty day moving average price of $336.93 and a 200 day moving average price of $300.72. The stock has a market capitalization of $26.14 billion, a P/E ratio of 26.75, a price-to-earnings-growth ratio of 1.44 and a beta of 1.21. The company has a debt-to-equity ratio of 1.69, a current ratio of 1.05 and a quick ratio of 1.05.

Insider Buying and Selling at Corpay

In related news, 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 transaction of $2,960,320.00. Following the transaction, 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 sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Joseph W. Farrelly sold 2,975 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at approximately $3,950,645.40. This represents a 22.03 % decrease in their position. The disclosure for this sale can be found here. Insiders own 6.10% of the company’s stock.

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.