Peapack Gladstone Financial Corp Acquires 113 Shares of Corpay, Inc. (NYSE:CPAY)

Peapack Gladstone Financial Corp grew its holdings in shares of Corpay, Inc. (NYSE:CPAY) by 0.3% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 40,416 shares of the company’s stock after acquiring an additional 113 shares during the quarter. Peapack Gladstone Financial Corp’s holdings in Corpay were worth $12,640,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Albion Financial Group UT purchased a new position in Corpay during the third quarter worth $27,000. LGT Financial Advisors LLC bought a new stake in shares of Corpay in the 2nd quarter worth about $33,000. Blue Trust Inc. boosted its stake in shares of Corpay by 246.2% during the 2nd quarter. Blue Trust Inc. now owns 135 shares of the company’s stock worth $36,000 after purchasing an additional 96 shares during the period. Innealta Capital LLC bought a new position in Corpay during the 2nd quarter valued at about $36,000. Finally, Whittier Trust Co. of Nevada Inc. bought a new position in Corpay during the 2nd quarter valued at about $40,000. Institutional investors own 98.84% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Bank of America raised their price objective on shares of Corpay from $344.00 to $375.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. 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 note on Wednesday, October 16th. BMO Capital Markets upped their price objective on Corpay from $400.00 to $440.00 and gave the company an “outperform” rating in a research report on Friday. JPMorgan Chase & Co. increased their target price on Corpay from $327.00 to $353.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 20th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Corpay from $400.00 to $425.00 and gave the company an “outperform” rating in a research note on Monday, December 9th. Four research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $369.29.

Corpay Stock Performance

CPAY stock opened at $357.10 on Friday. Corpay, Inc. has a 1-year low of $247.10 and a 1-year high of $385.30. The business has a 50-day moving average price of $356.18 and a 200 day moving average price of $310.63. The company has a market capitalization of $24.89 billion, a P/E ratio of 25.47, a PEG ratio of 1.43 and a beta of 1.24. 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 other news, CAO Alissa B. Vickery sold 8,000 shares of the business’s stock in a transaction on 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 directly owns 1,797 shares of the company’s stock, valued at approximately $664,961.88. The trade was a 81.66 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Joseph W. Farrelly sold 2,975 shares of the firm’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 sale, the director now directly owns 10,530 shares in the company, valued at approximately $3,950,645.40. The trade was 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.

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.