Franklin Resources Inc. Has $4.53 Million Holdings in Corpay, Inc. (NYSE:CPAY)

Franklin Resources Inc. trimmed its holdings in shares of Corpay, Inc. (NYSE:CPAY - Free Report) by 48.7% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 13,352 shares of the company's stock after selling 12,681 shares during the period. Franklin Resources Inc.'s holdings in Corpay were worth $4,525,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. FMR LLC increased its position in shares of Corpay by 3.0% in the third quarter. FMR LLC now owns 2,692,847 shares of the company's stock worth $842,215,000 after acquiring an additional 78,880 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Corpay by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 1,677,899 shares of the company's stock valued at $523,061,000 after buying an additional 23,275 shares in the last quarter. Mawer Investment Management Ltd. lifted its stake in Corpay by 1.1% in the second quarter. Mawer Investment Management Ltd. now owns 1,177,297 shares of the company's stock valued at $313,644,000 after acquiring an additional 12,338 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake 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 last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Corpay by 0.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 458,477 shares of the company's stock worth $143,393,000 after acquiring an additional 1,749 shares in the last quarter. 98.84% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently commented on CPAY. Citigroup lifted their target price on shares of Corpay from $405.00 to $430.00 and gave the stock a "buy" rating in a report on Thursday, November 14th. Jefferies Financial Group lifted their price target on shares of Corpay from $375.00 to $425.00 and gave the stock a "buy" rating in a research note on Wednesday, October 16th. Keefe, Bruyette & Woods upped their price objective on Corpay from $400.00 to $425.00 and gave the company an "outperform" rating in a research note on Monday, December 9th. Barclays lifted their price target on shares of Corpay from $385.00 to $415.00 and gave the company an "overweight" rating in a report on Monday, October 28th. Finally, Bank of America boosted their price objective on Corpay from $344.00 to $375.00 and gave the stock a "buy" rating in a research note on Tuesday, October 15th. Four equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $369.29.

Corpay Trading Up 0.9 %

Shares of NYSE:CPAY traded up $3.19 during mid-day trading on Tuesday, reaching $346.25. The stock had a trading volume of 150,207 shares, compared to its average volume of 471,363. The firm has a 50 day simple moving average of $357.31 and a two-hundred day simple moving average of $314.85. 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 has a market cap of $24.14 billion, a PE ratio of 24.70, a price-to-earnings-growth ratio of 1.43 and a beta of 1.23. Corpay, Inc. has a twelve month low of $247.10 and a twelve month high of $385.30.

Insider Activity

In related 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 transaction, the chief accounting officer now owns 1,797 shares of the company's stock, 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 Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Joseph W. Farrelly sold 2,975 shares of Corpay 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 completion of the sale, the director now directly owns 10,530 shares in the company, valued at approximately $3,950,645.40. This represents a 22.03 % decrease in their position. The disclosure for this sale can be found here. 6.10% of the stock is owned by company insiders.

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.