Stifel Financial Corp lowered its position in shares of Corpay, Inc. (NYSE:CPAY - Free Report) by 13.9% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,436 shares of the company's stock after selling 2,004 shares during the quarter. Stifel Financial Corp's holdings in Corpay were worth $3,889,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of CPAY. Albion Financial Group UT acquired a new position in Corpay in the third quarter worth approximately $27,000. LGT Financial Advisors LLC acquired a new position in shares of Corpay in the 2nd quarter worth $33,000. Huntington National Bank raised its position 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 purchased a new stake in shares of Corpay during the second quarter valued at $36,000. Finally, Quarry LP acquired a new position in shares of Corpay in the 3rd quarter valued at $42,000. 98.84% of the stock is owned by institutional investors and hedge funds.
Insiders Place Their Bets
In other Corpay news, CAO Alissa B. Vickery sold 8,000 shares of the business's stock in a transaction dated 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 sale, the chief accounting officer now owns 1,797 shares of the company's stock, valued at $664,961.88. The trade was a 81.66 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Joseph W. Farrelly sold 2,975 shares of the 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 transaction, 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. Insiders own 6.10% of the company's stock.
Corpay Stock Down 1.6 %
Shares of NYSE CPAY traded down $5.62 during trading hours on Tuesday, hitting $352.10. The stock had a trading volume of 369,159 shares, compared to its average volume of 470,543. The firm's 50-day moving average price is $356.67 and its two-hundred day moving average price is $311.94. Corpay, Inc. has a 52 week low of $247.10 and a 52 week high of $385.30. The company has a market capitalization of $24.55 billion, a P/E ratio of 25.50, a P/E/G ratio of 1.43 and a beta of 1.24. The company has a debt-to-equity ratio of 1.69, a quick ratio of 1.05 and a current ratio of 1.05.
Wall Street Analyst Weigh In
A number of research firms have commented on CPAY. JPMorgan Chase & Co. upped their price objective on shares of Corpay from $327.00 to $353.00 and gave the company an "overweight" rating in a research note on Tuesday, August 20th. BMO Capital Markets upped their price target on shares of Corpay from $400.00 to $440.00 and gave the company an "outperform" rating in a research report on Friday. Keefe, Bruyette & Woods lifted their price objective on shares of Corpay from $400.00 to $425.00 and gave the stock an "outperform" rating in a research report on Monday, December 9th. Barclays increased their target price on Corpay from $385.00 to $415.00 and gave the company an "overweight" rating in a report on Monday, October 28th. Finally, Citigroup lifted their price target on Corpay from $405.00 to $430.00 and gave the company a "buy" rating in a report on Thursday, November 14th. 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's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $369.29.
View Our Latest Analysis on CPAY
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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