Corpay, Inc. (NYSE:CPAY) Shares Sold by iA Global Asset Management Inc.

iA Global Asset Management Inc. cut its holdings in shares of Corpay, Inc. (NYSE:CPAY) by 42.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,778 shares of the company’s stock after selling 2,029 shares during the period. iA Global Asset Management Inc.’s holdings in Corpay were worth $869,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of CPAY. FMR LLC boosted its position in Corpay by 3.0% during the 3rd quarter. FMR LLC now owns 2,692,847 shares of the company’s stock valued at $842,215,000 after purchasing an additional 78,880 shares during the period. Mawer Investment Management Ltd. lifted its position in Corpay by 1.1% in the 2nd quarter. Mawer Investment Management Ltd. now owns 1,177,297 shares of the company’s stock valued at $313,644,000 after purchasing an additional 12,338 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Corpay by 10.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 718,752 shares of the company’s stock valued at $191,497,000 after purchasing an additional 70,408 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Corpay by 0.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 458,477 shares of the company’s stock valued at $143,393,000 after purchasing an additional 1,749 shares in the last quarter. Finally, American Century Companies Inc. lifted its holdings in Corpay by 1,734.1% in the second quarter. American Century Companies Inc. now owns 400,662 shares of the company’s stock worth $106,740,000 after purchasing an additional 378,817 shares during the period. Institutional investors and hedge funds own 98.84% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on CPAY. Jefferies Financial Group raised their target price on Corpay from $375.00 to $425.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Wells Fargo & Company raised their price objective on Corpay from $285.00 to $320.00 and gave the stock an “equal weight” rating in a research note on Monday, October 21st. Bank of America boosted their target price on Corpay from $344.00 to $375.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. Morgan Stanley upped their price target on shares of Corpay from $325.00 to $350.00 and gave the company an “equal weight” rating in a research report on Monday, November 11th. Finally, BMO Capital Markets raised their target price on Corpay from $350.00 to $390.00 and gave the stock an “outperform” rating in a research report on Thursday, October 3rd. Four investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Corpay presently has a consensus rating of “Moderate Buy” and an average price target of $365.71.

Corpay Price Performance

NYSE:CPAY opened at $361.23 on Tuesday. Corpay, Inc. has a one year low of $247.10 and a one year high of $385.30. The company has a debt-to-equity ratio of 1.69, a current ratio of 1.05 and a quick ratio of 1.05. The stock has a market cap of $25.18 billion, a P/E ratio of 25.77, a PEG ratio of 1.43 and a beta of 1.24. The company has a fifty day moving average price of $352.03 and a 200 day moving average price of $308.00.

Insider Transactions at Corpay

In related news, CAO Alissa B. Vickery sold 8,000 shares of the firm’s stock in a transaction that occurred 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 owns 1,797 shares in the company, valued at $664,961.88. This trade represents a 81.66 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Joseph W. Farrelly sold 2,975 shares of the 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 transaction, the director now owns 10,530 shares of the company’s stock, 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. 6.10% of the stock is owned by insiders.

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.