Corpay, Inc. (NYSE:CPAY) Stock Position Reduced by Worldquant Millennium Advisors LLC

Worldquant Millennium Advisors LLC trimmed its position in shares of Corpay, Inc. (NYSE:CPAY - Free Report) by 44.7% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 8,578 shares of the company's stock after selling 6,928 shares during the quarter. Worldquant Millennium Advisors LLC's holdings in Corpay were worth $2,683,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of CPAY. Cetera Investment Advisers purchased a new stake in Corpay during the first quarter worth $1,628,000. CWM LLC acquired a new position in shares of Corpay in the second quarter worth $426,000. Simplicity Wealth LLC raised its holdings in shares of Corpay by 13.3% in the second quarter. Simplicity Wealth LLC now owns 767 shares of the company's stock worth $204,000 after acquiring an additional 90 shares during the last quarter. Czech National Bank raised its holdings in shares of Corpay by 5.4% in the second quarter. Czech National Bank now owns 13,391 shares of the company's stock worth $3,567,000 after acquiring an additional 687 shares during the last quarter. Finally, Securian Asset Management Inc. acquired a new position in shares of Corpay in the second quarter worth $1,042,000. 98.84% of the stock is currently owned by hedge funds and other institutional investors.

Corpay Stock Down 1.2 %

Shares of NYSE CPAY traded down $4.53 on Monday, hitting $361.23. The company had a trading volume of 612,672 shares, compared to its average volume of 472,481. Corpay, Inc. has a 12-month low of $247.10 and a 12-month high of $385.30. The business has a 50 day moving average of $352.03 and a two-hundred day moving average of $308.00. 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 firm has a market capitalization of $25.18 billion, a P/E ratio of 25.90, a PEG ratio of 1.43 and a beta of 1.24.

Insider Transactions at Corpay

In related news, CAO Alissa B. Vickery sold 8,000 shares of the 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 transaction, the chief accounting officer now owns 1,797 shares of the company's stock, valued at approximately $664,961.88. This represents a 81.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 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 completion of the transaction, the director now directly 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 disclosure for this sale can be found here. Company insiders own 6.10% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on CPAY. BMO Capital Markets boosted their price target on Corpay from $350.00 to $390.00 and gave the stock an "outperform" rating in a report on Thursday, October 3rd. Citigroup upped their target price on Corpay from $405.00 to $430.00 and gave the company a "buy" rating in a research note on Thursday, November 14th. Wolfe Research upgraded Corpay from an "underperform" rating to a "peer perform" rating in a research note on Tuesday, September 3rd. Jefferies Financial Group upped their target price on Corpay from $375.00 to $425.00 and gave the company a "buy" rating in a research note on Wednesday, October 16th. Finally, Keefe, Bruyette & Woods upped their target price on Corpay from $400.00 to $425.00 and gave the company an "outperform" rating in a research note on Monday. Four investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $365.71.

About Corpay

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.