Corpay, Inc. (NYSE:CPAY) Shares Sold by Mawer Investment Management Ltd.

Mawer Investment Management Ltd. lowered its stake in Corpay, Inc. (NYSE:CPAY) by 0.3% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,173,238 shares of the company’s stock after selling 4,059 shares during the quarter. Corpay comprises 1.7% of Mawer Investment Management Ltd.’s portfolio, making the stock its 19th largest position. Mawer Investment Management Ltd. owned about 1.69% of Corpay worth $366,942,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of CPAY. Quest Partners LLC boosted its position in shares of Corpay by 97.1% during the third quarter. Quest Partners LLC now owns 2,691 shares of the company’s stock worth $842,000 after buying an additional 1,326 shares during the period. Ceera Investments LLC increased its stake in shares of Corpay by 22.8% during the 3rd quarter. Ceera Investments LLC now owns 16,258 shares of the company’s stock worth $5,085,000 after purchasing an additional 3,022 shares during the last quarter. Natixis Advisors LLC increased its holdings in shares of Corpay by 94.3% during the 3rd quarter. Natixis Advisors LLC now owns 27,453 shares of the company’s stock valued at $8,586,000 after acquiring an additional 13,322 shares during the last quarter. Mizuho Securities USA LLC raised its holdings in Corpay by 728.1% in the 3rd quarter. Mizuho Securities USA LLC now owns 44,889 shares of the company’s stock worth $14,039,000 after acquiring an additional 39,468 shares during the period. Finally, Empirical Finance LLC lifted its position in shares of Corpay by 1.8% during the 3rd quarter. Empirical Finance LLC now owns 2,493 shares of the company’s stock worth $780,000 after purchasing an additional 43 shares during the last quarter. Institutional investors own 98.84% of the company’s stock.

Insider Activity

In other news, Director Joseph W. Farrelly sold 2,975 shares of the company’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 value of $1,116,160.50. Following the transaction, the director now owns 10,530 shares of the company’s stock, valued at approximately $3,950,645.40. This represents a 22.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 6.10% of the company’s stock.

Analysts Set New Price Targets

CPAY has been the topic of several recent research reports. Barclays lifted 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. BMO Capital Markets raised their price target on shares of Corpay from $350.00 to $390.00 and gave the company an “outperform” rating in a report on Thursday, October 3rd. William Blair upgraded shares of Corpay to a “strong-buy” rating in a research report on Thursday, August 8th. Jefferies Financial Group boosted their target price on Corpay from $375.00 to $425.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Finally, 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 note on Thursday, August 8th. Four equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $363.93.

Corpay Stock Performance

Shares of CPAY opened at $363.46 on Monday. Corpay, Inc. has a one year low of $230.68 and a one year high of $375.98. The company has a market cap of $25.34 billion, a PE ratio of 26.06, a price-to-earnings-growth ratio of 1.42 and a beta of 1.21. The firm has a 50-day moving average of $331.97 and a 200-day moving average of $298.77. The company has a debt-to-equity ratio of 1.69, a current ratio of 1.05 and a quick ratio of 1.02.

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.