State Street Corp Sells 37,413 Shares of Corpay, Inc. (NYSE:CPAY)

State Street Corp decreased its holdings in shares of Corpay, Inc. (NYSE:CPAY - Free Report) by 1.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,809,284 shares of the company's stock after selling 37,413 shares during the quarter. State Street Corp owned 4.03% of Corpay worth $878,632,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the business. Swedbank AB increased its holdings in shares of Corpay by 26.9% in the 2nd quarter. Swedbank AB now owns 127,217 shares of the company's stock valued at $33,892,000 after purchasing an additional 27,000 shares during the period. TCW Group Inc. increased its stake in Corpay by 75.2% in the 2nd quarter. TCW Group Inc. now owns 17,579 shares of the company's stock valued at $4,683,000 after buying an additional 7,543 shares during the period. Securian Asset Management Inc. purchased a new stake in Corpay in the 2nd quarter worth approximately $1,042,000. Oppenheimer Asset Management Inc. boosted its stake in shares of Corpay by 66.7% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 5,888 shares of the company's stock valued at $1,842,000 after buying an additional 2,355 shares during the period. Finally, Assenagon Asset Management S.A. purchased a new position in shares of Corpay during the 2nd quarter valued at $35,655,000. 98.84% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CPAY has been the subject of a number of research reports. Jefferies Financial Group lifted their price objective on Corpay from $375.00 to $425.00 and gave the company a "buy" rating in a research report on Wednesday, October 16th. JPMorgan Chase & Co. boosted their price target on Corpay from $327.00 to $353.00 and gave the company an "overweight" rating in a research note on Tuesday, August 20th. Keefe, Bruyette & Woods raised their price objective on shares of Corpay from $380.00 to $400.00 and gave the company an "outperform" rating in a research report on Friday, November 8th. Morgan Stanley lifted their target price on shares of Corpay from $325.00 to $350.00 and gave the company an "equal weight" rating in a research note on Monday, November 11th. Finally, Barclays increased their price target on shares of Corpay from $385.00 to $415.00 and gave the stock an "overweight" rating in a research note on Monday, October 28th. 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 stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $363.93.

Corpay Stock Performance

Shares of CPAY stock traded down $1.82 during trading hours on Friday, reaching $365.76. 323,241 shares of the company's stock were exchanged, compared to its average volume of 494,575. Corpay, Inc. has a fifty-two week low of $247.10 and a fifty-two week 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 stock has a market capitalization of $25.50 billion, a P/E ratio of 26.09, a P/E/G ratio of 1.45 and a beta of 1.24. The business has a fifty day moving average price of $352.03 and a 200-day moving average price of $307.75.

Insider Buying and Selling at Corpay

In related news, CAO Alissa B. Vickery sold 8,000 shares of the firm's stock in a transaction on Wednesday, November 20th. The stock was 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 directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Joseph W. Farrelly sold 2,975 shares of Corpay stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $375.18, for a total transaction of $1,116,160.50. Following the sale, the director now owns 10,530 shares in the company, valued at $3,950,645.40. This represents a 22.03 % decrease in their position. The disclosure for this sale can be found here. Insiders own 6.10% of the company's stock.

Corpay 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.