Vantage Investment Partners LLC has increased its holdings in Corpay, Inc. (NYSE: CPAY) by 9.6% during the third quarter, raising its total position to approximately $37.67 million. According to Holdings Channel, the fund now owns 130,769 shares of Corpay after acquiring an additional 11,497 shares during the quarter. This investment represents about 2.6% of Vantage’s total portfolio, making Corpay its 19th largest holding.
The shift in Vantage’s holdings reflects broader trends among institutional investors. Notably, Norges Bank established a new position in Corpay valued at approximately $266.25 million during the second quarter. Vanguard Group Inc. also increased its stake by 3.2%, bringing its total to 8,124,437 shares valued at approximately $2.70 billion after purchasing an additional 251,651 shares. Similarly, Boston Partners raised its holdings by 5.8%, now owning 2,289,271 shares worth about $758.54 million. Orbis Allan Gray Ltd and Invesco Ltd. made significant adjustments as well, increasing their stakes by 3.3% and 4.4%, respectively.
98.84% of Corpay’s stock is now owned by institutional investors, highlighting the strong interest in the company’s financial performance.
Corpay’s Stock Performance and Insider Trading
On December 12, Corpay’s stock opened at $327.05, reflecting a 3.3% increase. The company has experienced a 50-day moving average of $306.40 and a 200-day moving average of $305.70. Corpay’s market capitalization stands at approximately $22.88 billion. Over the past twelve months, the stock reached a low of $252.84 and a high of $400.81. The company currently has a price-to-earnings (P/E) ratio of 22.20 and a price-to-earnings-growth (PEG) ratio of 0.97.
In a notable insider transaction, Director Steven T. Stull acquired 8,000 shares of Corpay at an average cost of $314.98 per share, totaling approximately $2.52 million. Following this transaction, Stull’s total ownership in the company increased by 37.66%, bringing his total shares to 29,241, valued at approximately $9.21 million. This transaction has been documented in a legal filing with the Securities and Exchange Commission (SEC).
Analyst Ratings and Market Outlook
Recent analyst assessments have been generally positive for Corpay. The Royal Bank of Canada raised its price target from $336.00 to $344.00, maintaining a “sector perform” rating. Jefferies Financial Group reaffirmed a “buy” rating, while Keefe, Bruyette & Woods adjusted their target price downward from $445.00 to $400.00, issuing an “outperform” rating. Weiss Ratings rated the stock as “hold (c+)”, and Williams Trading set a price objective of $300.00.
Currently, seven analysts rate Corpay as a “buy,” while five have issued a “hold.” Data from MarketBeat indicates that the stock has an average rating of “Moderate Buy” with a consensus price target of $366.25.
Corpay, Inc. operates as a global payments and fintech company, focusing on commercial payments, foreign exchange, and cross-border transactions. The company aims to streamline treasury operations and improve business-to-business payment processes through technology-driven solutions. Its offerings include payment processing, accounts payable automation, and expense management tools.
For those interested in further investment insights, detailed reports and filings regarding Corpay can be accessed through financial platforms like HoldingsChannel.com.
