BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Decreases Holdings in Corpay, Inc. (NYSE:CPAY)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp reduced its stake in Corpay, Inc. (NYSE:CPAY - Free Report) by 14.8% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,139 shares of the company's stock after selling 1,940 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp's holdings in Corpay were worth $3,484,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Cetera Investment Advisers purchased a new position in Corpay in the 1st quarter worth approximately $1,628,000. GAMMA Investing LLC raised its holdings in Corpay by 60.8% in the 2nd quarter. GAMMA Investing LLC now owns 775 shares of the company's stock worth $206,000 after acquiring an additional 293 shares during the last quarter. Massmutual Trust Co. FSB ADV raised its holdings in Corpay by 21.6% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 242 shares of the company's stock worth $64,000 after acquiring an additional 43 shares during the last quarter. Mather Group LLC. purchased a new position in Corpay in the 2nd quarter worth approximately $44,000. Finally, CWM LLC purchased a new position in Corpay in the 2nd quarter worth approximately $426,000. 98.84% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Corpay news, Director Joseph W. Farrelly sold 2,975 shares of the stock in a transaction dated Wednesday, November 13th. The shares were 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 of the company's stock, valued at $3,950,645.40. This represents a 22.03 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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 directly owns 1,797 shares of the company's stock, valued at $664,961.88. This trade represents a 81.66 % decrease in their position. The disclosure for this sale can be found here. 6.10% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on CPAY shares. Royal Bank of Canada restated a "sector perform" rating and issued a $310.00 price objective on shares of Corpay in a report on Thursday, August 8th. BMO Capital Markets boosted their target price on shares of Corpay from $350.00 to $390.00 and gave the company an "outperform" rating in a research note on Thursday, October 3rd. Raymond James decreased their target price on shares of Corpay from $330.00 to $311.00 and set an "outperform" rating for the company in a research note on Thursday, August 8th. Wolfe Research upgraded shares of Corpay from an "underperform" rating to a "peer perform" rating in a research note on Tuesday, September 3rd. Finally, Barclays boosted their target price on shares of Corpay from $385.00 to $415.00 and gave the company an "overweight" rating in a research note on Monday, October 28th. Four investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $363.93.

Corpay Price Performance

Corpay stock traded down $3.75 during mid-day trading on Wednesday, hitting $370.84. The stock had a trading volume of 392,041 shares, compared to its average volume of 472,711. The firm has a market capitalization of $25.85 billion, a P/E ratio of 26.45, a P/E/G ratio of 1.50 and a beta of 1.24. 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 firm's 50 day moving average is $349.72 and its 200 day moving average is $306.48. Corpay, Inc. has a one year low of $247.10 and a one year high of $385.30.

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.