Quarry LP Makes New Investment in Corpay, Inc. (NYSE:CPAY)

Quarry LP purchased a new stake in Corpay, Inc. (NYSE:CPAY) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 134 shares of the company’s stock, valued at approximately $42,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. FMR LLC increased its holdings in shares of Corpay by 3.0% in the third quarter. FMR LLC now owns 2,692,847 shares of the company’s stock valued at $842,215,000 after purchasing an additional 78,880 shares during the last quarter. Mawer Investment Management Ltd. increased its holdings in shares of Corpay by 1.1% in the second quarter. Mawer Investment Management Ltd. now owns 1,177,297 shares of the company’s stock valued at $313,644,000 after purchasing an additional 12,338 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Corpay by 10.9% in the second quarter. Dimensional Fund Advisors LP now owns 718,752 shares of the company’s stock valued at $191,497,000 after purchasing an additional 70,408 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Corpay by 0.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 458,477 shares of the company’s stock valued at $143,393,000 after purchasing an additional 1,749 shares during the last quarter. Finally, American Century Companies Inc. increased its holdings in shares of Corpay by 1,734.1% in the second quarter. American Century Companies Inc. now owns 400,662 shares of the company’s stock valued at $106,740,000 after purchasing an additional 378,817 shares during the last quarter. Institutional investors and hedge funds own 98.84% of the company’s stock.

Corpay Trading Down 1.3 %

NYSE:CPAY opened at $357.01 on Wednesday. The firm has a market cap of $24.89 billion, a PE ratio of 25.46, a price-to-earnings-growth ratio of 1.43 and a beta of 1.24. The stock has a fifty day moving average price of $353.00 and a 200 day moving average price of $308.64. Corpay, Inc. has a 12-month low of $247.10 and a 12-month high of $385.30. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 1.69.

Insider Activity at Corpay

In other Corpay news, Director Joseph W. Farrelly sold 2,975 shares of the firm’s stock in a transaction on 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 sale, the director now directly owns 10,530 shares in the company, valued at $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 available at this hyperlink. Also, CAO Alissa B. Vickery sold 8,000 shares of the firm’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $370.04, for a total value of $2,960,320.00. Following the completion of the sale, the chief accounting officer now owns 1,797 shares in the company, valued at approximately $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 currently owned by company insiders.

Analyst Upgrades and Downgrades

CPAY has been the subject of several analyst reports. JPMorgan Chase & Co. increased their price objective on Corpay from $327.00 to $353.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 20th. BMO Capital Markets increased their price objective on Corpay from $350.00 to $390.00 and gave the stock an “outperform” rating in a research report on Thursday, October 3rd. 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 report on Monday, October 21st. Jefferies Financial Group increased their price objective on Corpay from $375.00 to $425.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Finally, Wolfe Research upgraded Corpay from an “underperform” rating to a “peer perform” rating in a research report on Tuesday, September 3rd. Four equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $365.71.

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.