BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Sells 1,940 Shares of Corpay, Inc. (NYSE:CPAY)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp decreased its position in shares of Corpay, Inc. (NYSE:CPAY) by 14.8% in the third quarter, HoldingsChannel reports. The firm owned 11,139 shares of the company’s stock after selling 1,940 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Corpay were worth $3,484,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in CPAY. FMR LLC grew its holdings 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 buying an additional 78,880 shares in the last quarter. Mawer Investment Management Ltd. grew its holdings in shares of Corpay by 1.1% in the second 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 in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Corpay by 10.9% in the second 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 in the last quarter. Charles Schwab Investment Management Inc. increased its position in Corpay by 0.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 458,477 shares of the company’s stock worth $143,393,000 after purchasing an additional 1,749 shares during the last quarter. Finally, American Century Companies Inc. raised its stake in Corpay by 1,734.1% during the second quarter. American Century Companies Inc. now owns 400,662 shares of the company’s stock valued at $106,740,000 after purchasing an additional 378,817 shares in the last quarter. 98.84% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Corpay news, CAO Alissa B. Vickery sold 8,000 shares of the company’s stock in a transaction on 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 completion of the sale, the chief accounting officer now directly owns 1,797 shares in the company, valued at approximately $664,961.88. This represents a 81.66 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Joseph W. Farrelly sold 2,975 shares of the firm’s stock in a transaction 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 in the company, valued at approximately $3,950,645.40. This represents a 22.03 % 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 recent research reports. Citigroup lifted their price objective 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. Wells Fargo & Company boosted 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. Raymond James lowered their price objective on Corpay from $330.00 to $311.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Bank of America boosted their target price on Corpay from $344.00 to $375.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $310.00 price target on shares of Corpay in a research report on Thursday, August 8th. Four 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 stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $363.93.

Corpay Trading Down 2.2 %

NYSE CPAY opened at $374.58 on Wednesday. The stock has a market cap of $26.11 billion, a PE ratio of 26.72, a PEG ratio of 1.50 and a beta of 1.24. Corpay, Inc. has a 12 month low of $247.10 and a 12 month high of $385.30. The company’s 50-day moving average price is $348.40 and its 200-day moving average price is $306.03. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 1.69.

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.