Orion Portfolio Solutions LLC Sells 28,420 Shares of Corpay, Inc. (NYSE:CPAY)

Orion Portfolio Solutions LLC decreased its position in shares of Corpay, Inc. (NYSE:CPAY - Free Report) by 88.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,636 shares of the company's stock after selling 28,420 shares during the period. Orion Portfolio Solutions LLC's holdings in Corpay were worth $1,137,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. Albion Financial Group UT bought a new position in shares of Corpay in the 3rd quarter valued at about $27,000. LGT Financial Advisors LLC bought a new position in shares of Corpay in the 2nd quarter worth $33,000. Huntington National Bank grew its stake in shares of Corpay by 43.0% during the third quarter. Huntington National Bank now owns 133 shares of the company's stock worth $42,000 after purchasing an additional 40 shares during the period. Innealta Capital LLC bought a new stake in Corpay in the second quarter valued at about $36,000. Finally, Quarry LP acquired a new position in Corpay in the third quarter valued at about $42,000. Institutional investors own 98.84% of the company's stock.

Corpay Stock Down 1.2 %

Shares of NYSE:CPAY traded down $4.48 during midday trading on Friday, reaching $357.07. The company had a trading volume of 231,600 shares, compared to its average volume of 471,125. Corpay, Inc. has a 1-year low of $247.10 and a 1-year high of $385.30. The stock has a market cap of $24.89 billion, a PE ratio of 25.47, a P/E/G ratio of 1.43 and a beta of 1.24. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 1.69. The business's 50 day moving average price is $356.18 and its 200 day moving average price is $310.97.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on CPAY shares. Bank of America lifted their price objective on shares of Corpay from $344.00 to $375.00 and gave the stock a "buy" rating in a research note on Tuesday, October 15th. Morgan Stanley increased their price target on Corpay from $325.00 to $350.00 and gave the stock an "equal weight" rating in a report on Monday, November 11th. Keefe, Bruyette & Woods lifted their price objective on Corpay from $400.00 to $425.00 and gave the company an "outperform" rating in a report on Monday, December 9th. Citigroup boosted their price objective on Corpay from $405.00 to $430.00 and gave the company a "buy" rating in a research report on Thursday, November 14th. Finally, BMO Capital Markets raised their target price on shares of Corpay from $400.00 to $440.00 and gave the stock an "outperform" rating in a report on Friday. Four investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Corpay presently has an average rating of "Moderate Buy" and an average target price of $369.29.

Insiders Place Their Bets

In other news, Director Joseph W. Farrelly sold 2,975 shares of the company's stock in a transaction dated 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 directly owns 10,530 shares of the company's stock, valued at approximately $3,950,645.40. This represents a 22.03 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Alissa B. Vickery sold 8,000 shares of the firm's 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 completion of the sale, the chief accounting officer now owns 1,797 shares of the company's stock, valued at $664,961.88. This trade represents 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.

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.