Hancock Whitney Corp Grows Holdings in Corpay, Inc. (NYSE:CPAY)

Hancock Whitney Corp grew its stake in shares of Corpay, Inc. (NYSE:CPAY) by 0.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 39,098 shares of the company’s stock after purchasing an additional 116 shares during the quarter. Hancock Whitney Corp’s holdings in Corpay were worth $12,228,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Daiwa Securities Group Inc. lifted its holdings in Corpay by 8.8% during the 3rd quarter. Daiwa Securities Group Inc. now owns 8,343 shares of the company’s stock valued at $2,609,000 after buying an additional 678 shares in the last quarter. Swedbank AB increased its position in shares of Corpay by 46.3% during the third quarter. Swedbank AB now owns 186,117 shares of the company’s stock worth $58,210,000 after acquiring an additional 58,900 shares during the period. Cerity Partners LLC raised its stake in shares of Corpay by 17.3% during the third quarter. Cerity Partners LLC now owns 29,310 shares of the company’s stock valued at $9,167,000 after acquiring an additional 4,315 shares in the last quarter. Camden National Bank purchased a new stake in shares of Corpay in the third quarter valued at approximately $237,000. Finally, Eagle Asset Management Inc. increased its holdings in Corpay by 2.4% during the 3rd quarter. Eagle Asset Management Inc. now owns 357,397 shares of the company’s stock worth $111,779,000 after purchasing an additional 8,378 shares during the period. 98.84% of the stock is currently owned by institutional investors.

Insider Activity at Corpay

In related news, Director Joseph W. Farrelly sold 2,975 shares of the 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 transaction, the director now directly owns 10,530 shares of the company’s stock, valued at $3,950,645.40. This trade represents a 22.03 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Alissa B. Vickery sold 8,000 shares of the business’s stock in a transaction that occurred on 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 sale, the chief accounting officer now directly owns 1,797 shares in the company, valued at approximately $664,961.88. This represents a 81.66 % decrease in their position. The disclosure for this sale can be found here. 6.10% of the stock is currently owned by corporate insiders.

Corpay Stock Performance

Shares of CPAY opened at $380.10 on Monday. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 1.69. The firm has a market cap of $26.50 billion, a PE ratio of 27.09, a P/E/G ratio of 1.49 and a beta of 1.21. Corpay, Inc. has a 12 month low of $230.68 and a 12 month high of $380.10. The stock has a fifty day moving average price of $338.38 and a 200-day moving average price of $301.21.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Citigroup upped their target price on Corpay from $405.00 to $430.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. BMO Capital Markets increased their target price on shares of Corpay from $350.00 to $390.00 and gave the stock an “outperform” rating in a report on Thursday, October 3rd. JPMorgan Chase & Co. boosted their price target on shares of Corpay from $327.00 to $353.00 and gave the company an “overweight” rating in a report on Tuesday, August 20th. Royal Bank of Canada reiterated a “sector perform” rating and set a $310.00 price objective on shares of Corpay in a research note on Thursday, August 8th. Finally, William Blair raised shares of Corpay to a “strong-buy” rating in a research note on Thursday, August 8th. Four investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Corpay presently has an average rating of “Moderate Buy” and a consensus target price of $363.93.

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.