BNP Paribas Financial Markets Reduces Stock Position in Corpay, Inc. (NYSE:CPAY)

BNP Paribas Financial Markets trimmed its position in shares of Corpay, Inc. (NYSE:CPAY - Free Report) by 20.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 86,215 shares of the company's stock after selling 22,065 shares during the quarter. BNP Paribas Financial Markets owned approximately 0.12% of Corpay worth $26,965,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. American Century Companies Inc. grew its position in shares of Corpay by 1,734.1% in the 2nd quarter. American Century Companies Inc. now owns 400,662 shares of the company's stock valued at $106,740,000 after buying an additional 378,817 shares during the last quarter. TD Asset Management Inc bought a new stake in Corpay in the second quarter valued at approximately $41,475,000. Assenagon Asset Management S.A. bought a new stake in Corpay in the second quarter valued at approximately $35,655,000. International Assets Investment Management LLC acquired a new stake in Corpay during the 3rd quarter valued at approximately $40,497,000. Finally, FMR LLC raised its holdings in Corpay by 3.0% during the 3rd quarter. FMR LLC now owns 2,692,847 shares of the company's stock worth $842,215,000 after purchasing an additional 78,880 shares during the last quarter. 98.84% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Joseph W. Farrelly sold 2,975 shares of Corpay stock in a transaction on 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 sale, the director now directly owns 10,530 shares in the company, valued at $3,950,645.40. The trade was a 22.03 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Alissa B. Vickery sold 8,000 shares of the stock in a transaction dated Wednesday, November 20th. The shares were 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 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 disclosure for this sale can be found here. Insiders own 6.10% of the company's stock.

Analyst Ratings Changes

Several research firms have recently weighed in on CPAY. Bank of America increased their price objective on shares of Corpay from $344.00 to $375.00 and gave the stock a "buy" rating in a research report on Tuesday, October 15th. William Blair upgraded shares of Corpay to a "strong-buy" rating in a research report on Thursday, August 8th. Jefferies Financial Group lifted their price target on shares of Corpay from $375.00 to $425.00 and gave the company a "buy" rating in a research note on Wednesday, October 16th. Morgan Stanley increased their price objective on shares of Corpay from $325.00 to $350.00 and gave the stock an "equal weight" rating in a research report on Monday, November 11th. Finally, BMO Capital Markets boosted their target price on Corpay from $350.00 to $390.00 and gave the company an "outperform" rating in a research report on Thursday, October 3rd. Four investment 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 stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $363.93.

Corpay Stock Up 0.1 %

Shares of CPAY traded up $0.56 during trading hours on Friday, reaching $381.18. 212,465 shares of the stock traded hands, compared to its average volume of 471,828. Corpay, Inc. has a 52 week low of $236.15 and a 52 week high of $385.30. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 1.69. The stock has a fifty day simple moving average of $345.66 and a 200 day simple moving average of $304.48. The company has a market cap of $26.57 billion, a price-to-earnings ratio of 27.19, a PEG ratio of 1.49 and a beta of 1.21.

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.