Townsquare Capital LLC lowered its position in Corpay, Inc. (NYSE:CPAY - Free Report) by 49.6% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 4,640 shares of the company's stock after selling 4,568 shares during the period. Townsquare Capital LLC's holdings in Corpay were worth $1,451,000 at the end of the most recent quarter.
A number of other institutional investors have also bought and sold shares of the business. Goodman Financial Corp grew its position in shares of Corpay by 0.7% during the third quarter. Goodman Financial Corp now owns 51,784 shares of the company's stock valued at $16,196,000 after purchasing an additional 372 shares in the last quarter. Brooklyn Investment Group purchased a new position in shares of Corpay during the 3rd quarter worth about $48,000. Quantbot Technologies LP bought a new position in shares of Corpay during the third quarter valued at approximately $1,309,000. FMR LLC lifted its stake in shares of Corpay by 3.0% during the 3rd 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 during the last quarter. Finally, Hancock Whitney Corp lifted its stake in shares of Corpay by 0.3% during the 3rd quarter. Hancock Whitney Corp now owns 39,098 shares of the company's stock worth $12,228,000 after acquiring an additional 116 shares during the last quarter. Hedge funds and other institutional investors own 98.84% of the company's stock.
Insider Transactions at Corpay
In related news, CAO Alissa B. Vickery sold 8,000 shares of Corpay stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $370.04, for a total transaction of $2,960,320.00. Following the completion of the transaction, the chief accounting officer now directly owns 1,797 shares in the company, valued at approximately $664,961.88. This trade represents a 81.66 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Joseph W. Farrelly sold 2,975 shares of the firm's stock in a transaction that occurred 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 directly owns 10,530 shares in the company, valued at $3,950,645.40. The trade was a 22.03 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 6.10% of the company's stock.
Analyst Upgrades and Downgrades
Several analysts have recently weighed in on CPAY shares. Raymond James decreased their target price on Corpay from $330.00 to $311.00 and set an "outperform" rating for the company in a research report on Thursday, August 8th. Keefe, Bruyette & Woods raised their target price on shares of Corpay from $380.00 to $400.00 and gave the stock an "outperform" rating in a research report on Friday, November 8th. Barclays raised their price objective on Corpay from $385.00 to $415.00 and gave the stock an "overweight" rating in a report on Monday, October 28th. William Blair upgraded Corpay to a "strong-buy" rating in a research note on Thursday, August 8th. Finally, Royal Bank of Canada reissued a "sector perform" rating and set a $310.00 target price on shares of Corpay in a research report on Thursday, August 8th. Four equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $363.93.
View Our Latest Analysis on CPAY
Corpay Stock Performance
Shares of CPAY traded up $1.75 during trading hours on Monday, reaching $382.94. 674,090 shares of the company traded hands, compared to its average volume of 472,684. 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 business has a fifty day moving average price of $345.66 and a 200-day moving average price of $304.65. Corpay, Inc. has a 12-month low of $247.10 and a 12-month high of $385.30. The stock has a market capitalization of $26.69 billion, a P/E ratio of 27.32, a P/E/G ratio of 1.49 and a beta of 1.21.
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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