Royal London Asset Management Ltd. Sells 2,570 Shares of Corpay, Inc. (NYSE:CPAY)

Royal London Asset Management Ltd. trimmed its holdings in shares of Corpay, Inc. (NYSE:CPAY) by 8.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,683 shares of the company’s stock after selling 2,570 shares during the period. Royal London Asset Management Ltd.’s holdings in Corpay were worth $9,284,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of CPAY. Cetera Investment Advisers bought a new stake in shares of Corpay during the first quarter worth approximately $1,628,000. Mather Group LLC. bought a new stake in Corpay in the second quarter valued at approximately $44,000. CWM LLC bought a new stake in Corpay in the second quarter valued at approximately $426,000. Simplicity Wealth LLC increased its stake in Corpay by 13.3% in the second quarter. Simplicity Wealth LLC now owns 767 shares of the company’s stock valued at $204,000 after purchasing an additional 90 shares in the last quarter. Finally, Czech National Bank increased its stake in Corpay by 5.4% in the second quarter. Czech National Bank now owns 13,391 shares of the company’s stock valued at $3,567,000 after purchasing an additional 687 shares in the last quarter. 98.84% of the stock is owned by institutional investors.

Corpay Stock Performance

Shares of CPAY opened at $365.76 on Friday. Corpay, Inc. has a 12 month low of $247.10 and a 12 month high of $385.30. The firm has a fifty day simple moving average of $352.03 and a 200 day simple moving average of $307.75. The stock has a market capitalization of $25.50 billion, a price-to-earnings ratio of 26.09, a PEG ratio of 1.45 and a beta of 1.24. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 1.69.

Insider Buying and Selling

In related news, CAO Alissa B. Vickery sold 8,000 shares of the stock in a transaction 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 completion of the transaction, the chief accounting officer now owns 1,797 shares in the company, valued at approximately $664,961.88. This represents a 81.66 % decrease in their ownership of the stock. 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 stock in a transaction 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 owns 10,530 shares of the company’s stock, valued at $3,950,645.40. The trade was 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 corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on CPAY shares. Wells Fargo & Company upped their target price on shares of Corpay from $285.00 to $320.00 and gave the company an “equal weight” rating in a research note on Monday, October 21st. Keefe, Bruyette & Woods upped their target price on shares of Corpay from $380.00 to $400.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Bank of America upped their target price on shares of Corpay from $344.00 to $375.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. Morgan Stanley upped their target price on shares of Corpay from $325.00 to $350.00 and gave the company an “equal weight” rating in a research note on Monday, November 11th. Finally, BMO Capital Markets upped their target price on shares of Corpay from $350.00 to $390.00 and gave the company an “outperform” rating in a research note on Thursday, October 3rd. Four analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $363.93.

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.