Townsquare Capital LLC Trims Stock Position in Corpay, Inc. (NYSE:CPAY)

Townsquare Capital LLC cut its stake in Corpay, Inc. (NYSE:CPAY) by 49.6% in the 3rd quarter, Holdings Channel reports. The firm owned 4,640 shares of the company’s stock after selling 4,568 shares during the period. Townsquare Capital LLC’s holdings in Corpay were worth $1,451,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of CPAY. Swedbank AB lifted its holdings in Corpay by 26.9% in the second quarter. Swedbank AB now owns 127,217 shares of the company’s stock worth $33,892,000 after buying an additional 27,000 shares during the period. DekaBank Deutsche Girozentrale bought a new stake in shares of Corpay during the first quarter valued at approximately $10,171,000. Janus Henderson Group PLC bought a new stake in shares of Corpay during the first quarter valued at approximately $2,827,000. TCW Group Inc. raised its holdings in Corpay by 75.2% in the second quarter. TCW Group Inc. now owns 17,579 shares of the company’s stock worth $4,683,000 after purchasing an additional 7,543 shares in the last quarter. Finally, Securian Asset Management Inc. purchased a new position in Corpay during the second quarter valued at $1,042,000. 98.84% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on CPAY. Citigroup increased their price target on shares of Corpay from $405.00 to $430.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. William Blair upgraded Corpay to a “strong-buy” rating in a research note on Thursday, August 8th. Morgan Stanley boosted their target price on Corpay from $325.00 to $350.00 and gave the stock an “equal weight” rating in a report on Monday, November 11th. Bank of America raised their price target on Corpay from $344.00 to $375.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. Finally, BMO Capital Markets upped their price target on shares of Corpay from $350.00 to $390.00 and gave the stock an “outperform” rating in a research note on Thursday, October 3rd. Four equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Corpay currently has a consensus rating of “Moderate Buy” and a consensus target price of $363.93.

Corpay Stock Up 0.1 %

Shares of Corpay stock opened at $381.18 on Monday. Corpay, Inc. has a twelve month low of $236.15 and a twelve month high of $385.30. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 1.69. The company’s 50 day moving average is $345.66 and its 200 day moving average is $304.65. The company has a market cap of $26.57 billion, a price-to-earnings ratio of 27.19, a price-to-earnings-growth ratio of 1.49 and a beta of 1.21.

Insider Buying and Selling at Corpay

In related news, Director Joseph W. Farrelly sold 2,975 shares of the firm’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $375.18, for a total value of $1,116,160.50. Following the transaction, the director now 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 transaction was disclosed in a 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 that occurred 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 owns 1,797 shares of the company’s stock, valued at $664,961.88. This trade represents a 81.66 % 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 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.