Corpay, Inc. (NYSE:CPAY) Shares Sold by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA trimmed its position in Corpay, Inc. (NYSE:CPAY) by 0.2% during the third quarter, HoldingsChannel.com reports. The firm owned 182,960 shares of the company’s stock after selling 294 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Corpay were worth $57,223,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Cypress Capital Group purchased a new position in Corpay in the third quarter valued at approximately $555,000. King Luther Capital Management Corp increased its holdings in Corpay by 73.9% in the 3rd quarter. King Luther Capital Management Corp now owns 12,729 shares of the company’s stock valued at $3,981,000 after purchasing an additional 5,408 shares in the last quarter. Retireful LLC purchased a new stake in shares of Corpay during the 3rd quarter valued at about $702,000. First Horizon Advisors Inc. boosted its holdings in Corpay by 4.6% in the 3rd quarter. First Horizon Advisors Inc. now owns 1,825 shares of the company’s stock worth $571,000 after acquiring an additional 81 shares during the period. Finally, Factorial Partners LLC grew its position in Corpay by 5.9% in the third quarter. Factorial Partners LLC now owns 16,100 shares of the company’s stock valued at $5,035,000 after acquiring an additional 900 shares in the last quarter. 98.84% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CPAY has been the subject of several analyst reports. Jefferies Financial Group upped their target price on shares of Corpay from $375.00 to $425.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Royal Bank of Canada restated a “sector perform” rating and set a $310.00 target price on shares of Corpay in a research note on Thursday, August 8th. William Blair upgraded Corpay to a “strong-buy” rating in a report on Thursday, August 8th. Bank of America increased their target price on Corpay from $344.00 to $375.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. Finally, JPMorgan Chase & Co. lifted their price target 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 equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $363.93.

Insider Buying and Selling at Corpay

In other Corpay news, CAO Alissa B. Vickery sold 8,000 shares of the stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $370.04, for a total transaction of $2,960,320.00. Following the completion of the transaction, the chief accounting officer now directly owns 1,797 shares of the company’s stock, valued at approximately $664,961.88. This trade represents a 81.66 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Joseph W. Farrelly sold 2,975 shares of the business’s stock in a transaction 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 completion of the sale, the director now directly owns 10,530 shares in the company, 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 company insiders.

Corpay Stock Performance

Shares of CPAY stock opened at $379.87 on Monday. The company has a market cap of $26.48 billion, a P/E ratio of 27.09, a PEG ratio of 1.47 and a beta of 1.21. The business has a 50 day moving average of $338.38 and a two-hundred day moving average of $301.21. Corpay, Inc. has a 52 week low of $230.68 and a 52 week high of $380.00. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 1.69.

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.