Commerce Bank Has $9.28 Million Holdings in Corpay, Inc. (NYSE:CPAY)

Commerce Bank grew its position in Corpay, Inc. (NYSE:CPAY) by 28.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 29,681 shares of the company’s stock after acquiring an additional 6,544 shares during the period. Commerce Bank’s holdings in Corpay were worth $9,283,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Albion Financial Group UT acquired a new position in Corpay during the 3rd quarter worth $27,000. LGT Financial Advisors LLC acquired a new position in shares of Corpay during the second quarter valued at $33,000. Blue Trust Inc. boosted its holdings in Corpay by 246.2% in the second quarter. Blue Trust Inc. now owns 135 shares of the company’s stock valued at $36,000 after acquiring an additional 96 shares during the last quarter. Innealta Capital LLC acquired a new stake in Corpay in the second quarter worth about $36,000. Finally, Whittier Trust Co. of Nevada Inc. bought a new stake in shares of Corpay during the second quarter worth approximately $40,000. 98.84% of the stock is owned by institutional investors and hedge funds.

Corpay Stock Up 1.6 %

CPAY opened at $375.01 on Friday. The stock has a market cap of $26.14 billion, a PE ratio of 26.75, a price-to-earnings-growth ratio of 1.44 and a beta of 1.21. The stock’s fifty day simple moving average is $336.93 and its 200 day simple moving average is $300.72. Corpay, Inc. has a 1-year low of $230.68 and a 1-year high of $377.97. 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 related news, Director Joseph W. Farrelly sold 2,975 shares of the company’s stock in a transaction dated 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 transaction, the director now directly owns 10,530 shares in the company, valued at approximately $3,950,645.40. This represents a 22.03 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Alissa B. Vickery sold 8,000 shares of the firm’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 transaction, the chief accounting officer now directly 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 company insiders.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on CPAY. Morgan Stanley increased their price target on Corpay from $325.00 to $350.00 and gave the company an “equal weight” rating in a research note on Monday, November 11th. Raymond James decreased their price objective on shares of Corpay from $330.00 to $311.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Wolfe Research upgraded shares of Corpay from an “underperform” rating to a “peer perform” rating in a report on Tuesday, September 3rd. Citigroup boosted their target price on Corpay from $405.00 to $430.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Finally, Jefferies Financial Group raised their price target on Corpay from $375.00 to $425.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Four equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Corpay currently has an average rating of “Moderate Buy” and an average target price of $363.93.

Corpay 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.