Vantage Investment Partners LLC has increased its investment in Corpay, Inc. (NYSE: CPAY) by 9.6% during the third quarter, now holding a total of 130,769 shares valued at approximately $37.67 million. This change follows the purchase of an additional 11,497 shares, making Corpay about 2.6% of Vantage’s total portfolio, positioning it as the firm’s 19th largest investment, according to data from Holdings Channel.
Several other institutional investors have also adjusted their stakes in Corpay recently. Notably, Norges Bank acquired a new position in the second quarter, valued at $266.25 million. Additionally, Vanguard Group Inc. expanded its holdings by 3.2%, now owning 8,124,437 shares worth $2.70 billion after acquiring an extra 251,651 shares. Other firms, such as Boston Partners and Orbis Allan Gray Ltd, have similarly increased their positions, showcasing a robust interest in Corpay among institutional investors.
As of the latest filings, institutional investors collectively own 98.84% of Corpay’s stock.
Corpay Stock Performance and Insider Activity
On Friday, Corpay’s stock opened at $327.05, reflecting a 3.3% increase. The company’s stock has a market capitalization of $22.88 billion and a price-to-earnings (P/E) ratio of 22.20. Over the past year, the stock has fluctuated significantly, reaching a low of $252.84 and a high of $400.81. The company’s quick ratio and current ratio both stand at 1.13, while its debt-to-equity ratio is 1.41.
In addition to institutional movements, insider trading activity has also been notable. On December 12, Director Steven T. Stull purchased 8,000 shares at an average price of $314.98 each, resulting in a total transaction value of approximately $2.52 million. Following this acquisition, Stull’s ownership rose by 37.66%, bringing his total shares to 29,241, valued at around $9.21 million.
Analyst Ratings and Market Outlook
Analysts have varied opinions on Corpay’s stock, with several recent upgrades and downgrades. Royal Bank of Canada raised its price target from $336.00 to $344.00, assigning a “sector perform” rating. Meanwhile, Jefferies Financial Group maintained a “buy” rating. Conversely, Keefe, Bruyette & Woods reduced its target price from $445.00 to $400.00 while advising an “outperform” rating.
Overall, seven analysts currently rate Corpay as a “Buy,” while five have issued a “Hold” rating. According to MarketBeat, the average rating is classified as “Moderate Buy” with a consensus price target of $366.25.
Corpay, Inc. specializes in global payments and fintech solutions, offering businesses tools to manage and optimize corporate spending. The company’s services include payment processing, accounts payable automation, and foreign-exchange hedging, catering to the needs of businesses engaged in commercial payments and cross-border transactions.
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