Douglas Lane & Associates LLC Sells 1,623 Shares of Corpay, Inc. (NYSE:CPAY)

Douglas Lane & Associates LLC decreased its position in shares of Corpay, Inc. (NYSE:CPAY - Free Report) by 51.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,555 shares of the company's stock after selling 1,623 shares during the period. Douglas Lane & Associates LLC's holdings in Corpay were worth $526,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Acadian Asset Management LLC bought a new position in Corpay in the second quarter valued at about $571,000. Quest Partners LLC acquired a new position in Corpay during the 2nd quarter worth approximately $364,000. Choreo LLC acquired a new position in Corpay during the 2nd quarter worth approximately $284,000. Royal London Asset Management Ltd. lifted its stake in Corpay by 9.0% in the 2nd quarter. Royal London Asset Management Ltd. now owns 32,253 shares of the company's stock valued at $8,593,000 after purchasing an additional 2,657 shares during the last quarter. Finally, Daiwa Securities Group Inc. boosted its position in Corpay by 6.2% in the second quarter. Daiwa Securities Group Inc. now owns 7,665 shares of the company's stock valued at $2,042,000 after buying an additional 448 shares in the last quarter. 98.84% of the stock is owned by institutional investors.

Corpay Trading Up 2.9 %

Corpay stock traded up $10.11 during trading hours on Thursday, reaching $357.74. 828,794 shares of the company's stock were exchanged, compared to its average volume of 484,506. The firm's 50 day simple moving average is $357.71 and its 200 day simple moving average is $322.03. Corpay, Inc. has a twelve month low of $247.10 and a twelve month high of $385.30. 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 firm has a market capitalization of $24.94 billion, a PE ratio of 25.52, a PEG ratio of 1.40 and a beta of 1.26.

Insider Buying and Selling

In other Corpay news, CAO Alissa B. Vickery sold 8,000 shares of the firm'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 completion of the sale, the chief accounting officer now directly owns 1,797 shares in the company, valued at approximately $664,961.88. This trade represents a 81.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Joseph W. Farrelly sold 2,975 shares of Corpay stock in a transaction on 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 sale, the director now directly owns 10,530 shares of the company's stock, valued at approximately $3,950,645.40. This trade represents a 22.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 6.10% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several brokerages have recently issued reports on CPAY. Wolfe Research upgraded shares of Corpay from a "peer perform" rating to an "outperform" rating and set a $420.00 price target for the company in a report on Wednesday. Wells Fargo & Company increased their target price on Corpay from $285.00 to $320.00 and gave the company an "equal weight" rating in a research report on Monday, October 21st. Citigroup lifted their price target on Corpay from $405.00 to $430.00 and gave the company a "buy" rating in a research note on Thursday, November 14th. Bank of America raised their price objective on shares of Corpay from $344.00 to $375.00 and gave the company a "buy" rating in a report on Tuesday, October 15th. Finally, BMO Capital Markets boosted 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, December 13th. Three analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Corpay presently has a consensus rating of "Moderate Buy" and an average target price of $377.50.

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.