Teachers Retirement System of The State of Kentucky Trims Holdings in Corpay, Inc. (NYSE:CPAY)

Teachers Retirement System of The State of Kentucky reduced its position in shares of Corpay, Inc. (NYSE:CPAY - Free Report) by 93.0% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 5,329 shares of the company's stock after selling 70,901 shares during the quarter. Teachers Retirement System of The State of Kentucky's holdings in Corpay were worth $1,666,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in CPAY. Albion Financial Group UT purchased a new position in Corpay during the third quarter valued at $27,000. LGT Financial Advisors LLC purchased a new position in shares of Corpay during the 2nd quarter valued at about $33,000. Blue Trust Inc. grew its stake in shares of Corpay by 246.2% during the 2nd quarter. Blue Trust Inc. now owns 135 shares of the company's stock valued at $36,000 after acquiring an additional 96 shares during the period. Innealta Capital LLC purchased a new stake in Corpay in the 2nd quarter worth approximately $36,000. Finally, Whittier Trust Co. of Nevada Inc. bought a new stake in Corpay during the 2nd quarter worth approximately $40,000. Hedge funds and other institutional investors own 98.84% of the company's stock.

Insider Activity

In other news, CAO Alissa B. Vickery sold 8,000 shares of the firm's stock in a transaction dated 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 owns 1,797 shares in the company, valued at approximately $664,961.88. This trade represents a 81.66 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Joseph W. Farrelly sold 2,975 shares of the company's stock in a transaction dated 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 transaction, the director now owns 10,530 shares in the company, valued at $3,950,645.40. The trade was a 22.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 6.10% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on CPAY shares. Bank of America upped their price target on shares of Corpay from $344.00 to $375.00 and gave the stock a "buy" rating in a research report on Tuesday, October 15th. Jefferies Financial Group increased their price target on Corpay from $375.00 to $425.00 and gave the stock a "buy" rating in a research note on Wednesday, October 16th. BMO Capital Markets boosted their price objective on Corpay from $400.00 to $440.00 and gave the company an "outperform" rating in a research report on Friday, December 13th. Keefe, Bruyette & Woods upped their price objective on Corpay from $400.00 to $425.00 and gave the stock an "outperform" rating in a research note on Monday, December 9th. Finally, Wolfe Research raised Corpay from an "underperform" rating to a "peer perform" rating in a research note on Tuesday, September 3rd. Four investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $369.29.

Corpay Price Performance

CPAY stock traded down $12.93 during trading on Wednesday, hitting $339.17. 470,457 shares of the company's stock traded hands, compared to its average volume of 470,543. Corpay, Inc. has a 52 week low of $247.10 and a 52 week high of $385.30. The stock has a market capitalization of $23.64 billion, a price-to-earnings ratio of 24.19, a P/E/G ratio of 1.43 and a beta of 1.24. The business has a fifty day simple moving average of $357.07 and a 200 day simple moving average of $312.72. The company has a debt-to-equity ratio of 1.69, a quick ratio of 1.05 and a current ratio of 1.05.

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.