Contravisory Investment Management Inc. Sells 226 Shares of Corpay, Inc. (NYSE:CPAY)

Contravisory Investment Management Inc. decreased its holdings in shares of Corpay, Inc. (NYSE:CPAY) by 0.8% in the 4th quarter, Holdings Channel reports. The institutional investor owned 26,900 shares of the company’s stock after selling 226 shares during the period. Corpay accounts for about 1.9% of Contravisory Investment Management Inc.’s portfolio, making the stock its 20th biggest position. Contravisory Investment Management Inc.’s holdings in Corpay were worth $9,103,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Albion Financial Group UT acquired a new stake in Corpay during the 3rd quarter worth $27,000. Versant Capital Management Inc grew its stake in shares of Corpay by 130.4% during the fourth quarter. Versant Capital Management Inc now owns 106 shares of the company’s stock worth $36,000 after purchasing an additional 60 shares during the period. Huntington National Bank grew its stake in shares of Corpay by 43.0% during 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 period. Quarry LP acquired a new position in Corpay in the third quarter valued at about $42,000. Finally, Continuum Advisory LLC boosted its holdings in Corpay by 47.9% during the third quarter. Continuum Advisory LLC now owns 142 shares of the company’s stock worth $44,000 after buying an additional 46 shares during the last quarter. 98.84% of the stock is owned by institutional investors.

Insider Transactions at Corpay

In other Corpay news, CAO Alissa B. Vickery sold 8,000 shares of the company’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $370.04, for a total transaction of $2,960,320.00. Following the sale, the chief accounting officer now directly 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 transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Joseph W. Farrelly sold 2,975 shares of the business’s stock in a transaction dated 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 transaction, the director now owns 10,530 shares in the company, valued at $3,950,645.40. This represents a 22.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 6.10% of the company’s stock.

Corpay Stock Performance

Shares of CPAY opened at $362.57 on Thursday. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 1.69. Corpay, Inc. has a 12 month low of $247.10 and a 12 month high of $385.30. The firm has a fifty day simple moving average of $359.11 and a 200 day simple moving average of $324.55. The stock has a market capitalization of $25.27 billion, a price-to-earnings ratio of 25.86, a PEG ratio of 1.17 and a beta of 1.26.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on CPAY. Wells Fargo & Company increased their price target on shares of Corpay from $285.00 to $320.00 and gave the company an “equal weight” rating in a research report on Monday, October 21st. Morgan Stanley lifted their price target on shares of Corpay from $325.00 to $350.00 and gave the stock an “equal weight” rating in a research report on Monday, November 11th. Barclays boosted their price target on shares of Corpay from $385.00 to $415.00 and gave the company an “overweight” rating in a report on Monday, October 28th. Citigroup assumed coverage on Corpay in a report on Tuesday. They issued a “buy” rating and a $430.00 price target for the company. Finally, Keefe, Bruyette & Woods cut their price objective on Corpay from $425.00 to $415.00 and set an “outperform” rating on the stock in a report on Monday, January 6th. Three investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Corpay presently has a consensus rating of “Moderate Buy” and a consensus price target of $377.50.

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.