Stifel Financial Corp Sells 2,004 Shares of Corpay, Inc. (NYSE:CPAY)

Stifel Financial Corp lessened its stake in Corpay, Inc. (NYSE:CPAY) by 13.9% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,436 shares of the company’s stock after selling 2,004 shares during the quarter. Stifel Financial Corp’s holdings in Corpay were worth $3,889,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. American Century Companies Inc. lifted its stake in Corpay by 1,734.1% during the 2nd quarter. American Century Companies Inc. now owns 400,662 shares of the company’s stock valued at $106,740,000 after acquiring an additional 378,817 shares in the last quarter. TD Asset Management Inc purchased a new position in Corpay during the second quarter worth about $41,475,000. International Assets Investment Management LLC bought a new stake in Corpay in the 3rd quarter worth about $40,497,000. Prana Capital Management LP purchased a new stake in Corpay in the 3rd quarter valued at about $31,541,000. Finally, FMR LLC lifted its position in shares of Corpay by 3.0% during the 3rd quarter. FMR LLC now owns 2,692,847 shares of the company’s stock worth $842,215,000 after buying an additional 78,880 shares in the last quarter. Hedge funds and other institutional investors own 98.84% of the company’s stock.

Corpay Stock Performance

NYSE:CPAY opened at $357.56 on Tuesday. The company has a debt-to-equity ratio of 1.69, a quick ratio of 1.05 and a current ratio of 1.05. The firm has a market cap of $24.93 billion, a price-to-earnings ratio of 25.50, a PEG ratio of 1.43 and a beta of 1.24. Corpay, Inc. has a 52-week low of $247.10 and a 52-week high of $385.30. The business’s fifty day moving average is $356.67 and its 200 day moving average is $311.94.

Insider Transactions 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 completion of the sale, the director now owns 10,530 shares in the company, valued at approximately $3,950,645.40. This trade represents a 22.03 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 of the company’s stock, valued at $664,961.88. The trade was a 81.66 % decrease in their position. The disclosure for this sale can be found here. Insiders own 6.10% of the company’s stock.

Analysts Set New Price Targets

CPAY has been the subject of a number of research analyst reports. Barclays increased their price target on Corpay from $385.00 to $415.00 and gave the company an “overweight” rating in a research report on Monday, October 28th. Citigroup lifted their target price on Corpay from $405.00 to $430.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. 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. Wolfe Research raised shares of Corpay from an “underperform” rating to a “peer perform” rating in a research report on Tuesday, September 3rd. Finally, Bank of America increased their target price on shares of Corpay from $344.00 to $375.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. Four equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Corpay presently has a consensus rating of “Moderate Buy” and a consensus price target of $369.29.

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.