KBC Group NV Sells 313 Shares of Corpay, Inc. (NYSE:CPAY)

KBC Group NV lessened its position in shares of Corpay, Inc. (NYSE:CPAY) by 2.5% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,442 shares of the company’s stock after selling 313 shares during the period. KBC Group NV’s holdings in Corpay were worth $3,892,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Janney Montgomery Scott LLC acquired a new position in Corpay in the 1st quarter valued at $316,000. Empowered Funds LLC acquired a new position in shares of Corpay in the first quarter valued at about $292,000. US Bancorp DE bought a new position in Corpay during the first quarter worth about $1,068,000. Avantax Advisory Services Inc. acquired a new stake in Corpay in the 1st quarter worth about $426,000. Finally, Bleakley Financial Group LLC bought a new stake in Corpay in the 1st quarter valued at about $211,000. Institutional investors and hedge funds own 98.84% of the company’s stock.

Wall Street Analysts Forecast Growth

CPAY has been the subject of a number of analyst reports. Jefferies Financial Group lifted their price target on shares of Corpay from $375.00 to $425.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Raymond James dropped their price objective on Corpay from $330.00 to $311.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Barclays increased their target price on Corpay from $385.00 to $415.00 and gave the stock an “overweight” rating in a report on Monday, October 28th. William Blair raised Corpay to a “strong-buy” rating in a research note on Thursday, August 8th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Corpay from $327.00 to $353.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 20th. Four 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’s stock. According to data from MarketBeat, Corpay presently has a consensus rating of “Moderate Buy” and an average target price of $363.93.

Insider Buying and Selling at Corpay

In other news, Director Joseph W. Farrelly sold 2,975 shares of Corpay 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 sale, the director now directly owns 10,530 shares of the company’s stock, valued at approximately $3,950,645.40. This trade represents a 22.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 6.10% of the company’s stock.

Corpay Trading Down 1.9 %

Shares of Corpay stock opened at $363.36 on Monday. The firm has a market capitalization of $25.33 billion, a PE ratio of 25.92, a price-to-earnings-growth ratio of 1.42 and a beta of 1.21. The company has a current ratio of 1.05, a quick ratio of 1.02 and a debt-to-equity ratio of 1.69. The firm’s 50 day moving average is $331.97 and its 200 day moving average is $298.77. Corpay, Inc. has a 1 year low of $230.68 and a 1 year high of $375.98.

Corpay Company 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.