Petrus Trust Company LTA Trims Holdings in Corpay, Inc. (NYSE:CPAY)

Petrus Trust Company LTA decreased its position in Corpay, Inc. (NYSE:CPAY) by 9.3% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 217,713 shares of the company’s stock after selling 22,287 shares during the period. Corpay makes up 6.6% of Petrus Trust Company LTA’s portfolio, making the stock its 2nd largest position. Petrus Trust Company LTA owned approximately 0.31% of Corpay worth $68,092,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. American Century Companies Inc. lifted its stake in Corpay by 1,734.1% in 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 bought a new position in Corpay during the second quarter worth about $41,475,000. Assenagon Asset Management S.A. bought a new position in Corpay during the second quarter worth $35,655,000. International Assets Investment Management LLC acquired a new position in shares of Corpay in the third quarter valued at approximately $40,497,000. Finally, Prana Capital Management LP acquired a new position in shares of Corpay in the third quarter valued at about $31,541,000. 98.84% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently issued reports on CPAY shares. Citigroup boosted their price target on Corpay from $405.00 to $430.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Royal Bank of Canada reissued a “sector perform” rating and set a $310.00 price objective on shares of Corpay in a report on Thursday, August 8th. Jefferies Financial Group upped their price objective on Corpay from $375.00 to $425.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. JPMorgan Chase & Co. boosted their price objective 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. Finally, Bank of America upped their price target on Corpay from $344.00 to $375.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. Four investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $363.93.

Corpay Trading Down 2.2 %

NYSE CPAY opened at $374.58 on Wednesday. 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 business has a 50 day moving average price of $348.40 and a 200-day moving average price of $306.03. Corpay, Inc. has a 52 week low of $247.10 and a 52 week high of $385.30. The company has a market cap of $26.11 billion, a price-to-earnings ratio of 26.72, a P/E/G ratio of 1.50 and a beta of 1.24.

Insider Transactions at Corpay

In other Corpay news, CAO Alissa B. Vickery sold 8,000 shares of the stock in a transaction dated Wednesday, November 20th. The shares were 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 owns 1,797 shares in the company, valued at approximately $664,961.88. This trade represents a 81.66 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Joseph W. Farrelly sold 2,975 shares of Corpay stock in a transaction that occurred on 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 transaction, the director now directly 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. 6.10% of the stock is currently owned by insiders.

Corpay 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.