iA Global Asset Management Inc. Sells 2,029 Shares of Corpay, Inc. (NYSE:CPAY)

iA Global Asset Management Inc. cut its stake in Corpay, Inc. (NYSE:CPAY - Free Report) by 42.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,778 shares of the company's stock after selling 2,029 shares during the period. iA Global Asset Management Inc.'s holdings in Corpay were worth $869,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. FMR LLC increased its stake in Corpay by 3.0% in the third quarter. FMR LLC now owns 2,692,847 shares of the company's stock valued at $842,215,000 after purchasing an additional 78,880 shares in the last quarter. Mawer Investment Management Ltd. increased its holdings in shares of Corpay by 1.1% in the second quarter. Mawer Investment Management Ltd. now owns 1,177,297 shares of the company's stock worth $313,644,000 after acquiring an additional 12,338 shares in the last quarter. Dimensional Fund Advisors LP grew its position 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 valued at $191,497,000 after purchasing an additional 70,408 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in Corpay by 0.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 458,477 shares of the company's stock valued at $143,393,000 after buying an additional 1,749 shares in the last quarter. Finally, American Century Companies Inc. raised its holdings in shares of Corpay by 1,734.1% during the second quarter. American Century Companies Inc. now owns 400,662 shares of the company's stock worth $106,740,000 after acquiring an additional 378,817 shares during the period. Institutional investors own 98.84% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on CPAY. Wolfe Research raised Corpay from an "underperform" rating to a "peer perform" rating in a research report on Tuesday, September 3rd. BMO Capital Markets raised 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. Barclays raised their price target on Corpay from $385.00 to $415.00 and gave the stock an "overweight" rating in a research report on Monday, October 28th. 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 note on Monday, November 11th. Finally, Wells Fargo & Company boosted their target price on shares of Corpay from $285.00 to $320.00 and gave the company an "equal weight" rating in a research report on Monday, October 21st. Four equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $365.71.

Corpay Stock Performance

Shares of NYSE CPAY traded down $4.72 during midday trading on Tuesday, reaching $357.01. The company's stock had a trading volume of 534,779 shares, compared to its average volume of 472,710. The stock has a market capitalization of $24.89 billion, a P/E ratio of 25.76, a PEG ratio of 1.43 and a beta of 1.24. The company has a debt-to-equity ratio of 1.69, a current ratio of 1.05 and a quick ratio of 1.05. The firm has a 50 day moving average price of $353.00 and a 200-day moving average price of $308.64. Corpay, Inc. has a 12-month low of $247.10 and a 12-month high of $385.30.

Insiders Place Their Bets

In other news, Director Joseph W. Farrelly sold 2,975 shares of the business's stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $375.18, for a total value of $1,116,160.50. Following the sale, the director now owns 10,530 shares of the company's stock, valued at $3,950,645.40. The trade was a 22.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Alissa B. Vickery sold 8,000 shares of the business's stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $370.04, for a total value of $2,960,320.00. Following the sale, the chief accounting officer now owns 1,797 shares in the company, valued at approximately $664,961.88. The trade was a 81.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 6.10% of the company's stock.

Corpay Company 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.