Factorial Partners LLC Boosts Stock Position in Corpay, Inc. (NYSE:CPAY)

Factorial Partners LLC increased its position in Corpay, Inc. (NYSE:CPAY) by 5.9% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 16,100 shares of the company’s stock after purchasing an additional 900 shares during the quarter. Corpay makes up about 2.9% of Factorial Partners LLC’s investment portfolio, making the stock its 9th largest holding. Factorial Partners LLC’s holdings in Corpay were worth $5,035,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD purchased a new position in Corpay during the first quarter valued at $1,355,377,000. Boston Partners purchased a new stake in Corpay in the first quarter worth about $553,667,000. Mawer Investment Management Ltd. boosted its position in shares of Corpay by 1.1% in the 2nd quarter. Mawer Investment Management Ltd. now owns 1,177,297 shares of the company’s stock worth $313,644,000 after purchasing an additional 12,338 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Corpay by 10.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 718,752 shares of the company’s stock worth $191,497,000 after buying an additional 70,408 shares during the last quarter. Finally, Third Point LLC purchased a new position in Corpay during the first quarter valued at $200,551,000. 98.84% of the stock is currently owned by institutional investors.

Insider Activity

In other news, 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 transaction of $1,116,160.50. Following the completion of the transaction, the director now 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 sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 6.10% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Raymond James reduced their price target on Corpay from $330.00 to $311.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Bank of America lifted their target price on shares of Corpay from $344.00 to $375.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. Barclays upped their target price on shares of Corpay from $385.00 to $415.00 and gave the stock an “overweight” rating in a research note on Monday, October 28th. William Blair raised shares of Corpay to a “strong-buy” rating in a research report on Thursday, August 8th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Corpay from $327.00 to $353.00 and gave the stock an “overweight” rating in a report on Tuesday, August 20th. 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 stock. Based on data from MarketBeat.com, Corpay presently has a consensus rating of “Moderate Buy” and a consensus price target of $363.93.

Corpay Stock Performance

NYSE:CPAY opened at $368.16 on Wednesday. The stock has a 50-day simple moving average of $334.29 and a two-hundred day simple moving average of $299.71. The company has a debt-to-equity ratio of 1.69, a quick ratio of 1.05 and a current ratio of 1.05. Corpay, Inc. has a 52-week low of $230.68 and a 52-week high of $375.98. The firm has a market capitalization of $25.66 billion, a PE ratio of 26.26, a P/E/G ratio of 1.42 and a beta of 1.21.

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.