BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Decreases Stake in Corpay, Inc. (NYSE:CPAY)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp cut its holdings in shares of Corpay, Inc. (NYSE:CPAY) by 14.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,139 shares of the company’s stock after selling 1,940 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Corpay were worth $3,484,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of CPAY. Albion Financial Group UT purchased a new stake in shares of Corpay during the 3rd quarter valued at about $27,000. LGT Financial Advisors LLC bought a new position in Corpay during the second quarter valued at approximately $33,000. Huntington National Bank boosted its holdings in Corpay by 43.0% in 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 last quarter. Innealta Capital LLC bought a new stake in Corpay in the 2nd quarter worth approximately $36,000. Finally, Blue Trust Inc. grew its position in Corpay by 246.2% in the 2nd quarter. Blue Trust Inc. now owns 135 shares of the company’s stock worth $36,000 after purchasing an additional 96 shares during the period. 98.84% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other 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 transaction, the chief accounting officer now directly owns 1,797 shares in the company, valued at $664,961.88. The trade was a 81.66 % decrease in their ownership of the stock. The sale was disclosed in a legal 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 stock was sold at an average price of $375.18, for a total value of $1,116,160.50. Following the sale, the director now 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. 6.10% of the stock is currently owned by insiders.

Corpay Stock Performance

Shares of NYSE CPAY opened at $374.58 on Wednesday. The stock has a market cap of $26.11 billion, a PE ratio of 26.72, a price-to-earnings-growth ratio of 1.50 and a beta of 1.24. Corpay, Inc. has a 1 year low of $247.10 and a 1 year high of $385.30. The firm has a fifty day moving average price of $348.40 and a 200-day moving average price of $306.03. The company has a debt-to-equity ratio of 1.69, a current ratio of 1.05 and a quick ratio of 1.05.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on CPAY. Royal Bank of Canada restated a “sector perform” rating and issued a $310.00 price target on shares of Corpay in a research note on Thursday, August 8th. Jefferies Financial Group raised 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. Morgan Stanley upped their price target on shares of Corpay from $325.00 to $350.00 and gave the company an “equal weight” rating in a research report on Monday, November 11th. Keefe, Bruyette & Woods raised their price objective on shares of Corpay from $380.00 to $400.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Finally, Wolfe Research raised shares of Corpay from an “underperform” rating to a “peer perform” rating in a report on Tuesday, September 3rd. Four research 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 company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $363.93.

Corpay 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.