Nomura Asset Management Co. Ltd. reduced its holdings in Corpay, Inc. (NYSE:CPAY - Free Report) by 19.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 26,708 shares of the company's stock after selling 6,441 shares during the period. Nomura Asset Management Co. Ltd.'s holdings in Corpay were worth $8,353,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently bought and sold shares of CPAY. American Century Companies Inc. grew 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 purchasing an additional 378,817 shares during the last quarter. TD Asset Management Inc acquired a new position in Corpay during the second quarter worth about $41,475,000. Assenagon Asset Management S.A. acquired a new position in shares of Corpay in the second quarter valued at approximately $35,655,000. International Assets Investment Management LLC purchased a new stake in shares of Corpay in the third quarter valued at $40,497,000. Finally, Prana Capital Management LP purchased a new position in Corpay during the third quarter worth approximately $31,541,000. 98.84% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling
In other news, Director Joseph W. Farrelly sold 2,975 shares of the 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 completion of the sale, 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 filing with the SEC, which is available at this hyperlink. Also, CAO Alissa B. Vickery sold 8,000 shares of the business's stock in a transaction that occurred 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. The trade was a 81.66 % decrease in their position. The disclosure for this sale can be found here. 6.10% of the stock is owned by corporate insiders.
Wall Street Analyst Weigh In
A number of analysts recently weighed in on CPAY shares. 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. Jefferies Financial Group raised their target price on Corpay from $375.00 to $425.00 and gave the company a "buy" rating in a report on Wednesday, October 16th. Keefe, Bruyette & Woods upped their price objective on shares of Corpay from $400.00 to $425.00 and gave the company an "outperform" rating in a research report on Monday. Bank of America upped their price target on Corpay from $344.00 to $375.00 and gave the company a "buy" rating in a research report on Tuesday, October 15th. Finally, Wells Fargo & Company increased their price target on shares of Corpay from $285.00 to $320.00 and gave the company an "equal weight" rating in a research note on Monday, October 21st. Four research 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. According to data from MarketBeat.com, Corpay currently has a consensus rating of "Moderate Buy" and an average price target of $369.29.
Get Our Latest Stock Report on Corpay
Corpay Trading Down 1.2 %
CPAY stock traded down $4.45 during trading on Friday, hitting $357.10. The company had a trading volume of 231,336 shares, compared to its average volume of 471,125. The firm has a market capitalization of $24.89 billion, a P/E ratio of 25.77, a PEG 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. Corpay, Inc. has a 52-week low of $247.10 and a 52-week high of $385.30. The company has a 50 day simple moving average of $355.66 and a 200-day simple moving average of $310.01.
About Corpay
(
Free Report)
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.
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