Kentucky Retirement Systems Sells 458 Shares of Corpay, Inc. (NYSE:CPAY)

Kentucky Retirement Systems cut its stake in shares of Corpay, Inc. (NYSE:CPAY) by 8.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,837 shares of the company’s stock after selling 458 shares during the period. Kentucky Retirement Systems’ holdings in Corpay were worth $1,513,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of CPAY. Albion Financial Group UT bought a new stake in Corpay in the third quarter worth $27,000. LGT Financial Advisors LLC purchased a new stake in shares of Corpay in the second quarter valued at $33,000. Blue Trust Inc. lifted its holdings in shares of Corpay by 246.2% in the 2nd quarter. Blue Trust Inc. now owns 135 shares of the company’s stock worth $36,000 after acquiring an additional 96 shares during the last quarter. Innealta Capital LLC purchased a new position in shares of Corpay during the 2nd quarter worth about $36,000. Finally, Whittier Trust Co. of Nevada Inc. purchased a new position in shares of Corpay during the 2nd quarter worth about $40,000. 98.84% of the stock is owned by institutional investors.

Corpay Price Performance

CPAY opened at $364.58 on Tuesday. The firm has a market capitalization of $25.42 billion, a PE ratio of 26.00, a price-to-earnings-growth ratio of 1.42 and a beta of 1.21. The company has a debt-to-equity ratio of 1.69, a current ratio of 1.05 and a quick ratio of 1.02. The business’s 50-day moving average is $333.12 and its two-hundred day moving average is $299.23. Corpay, Inc. has a 1 year low of $230.68 and a 1 year high of $375.98.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on CPAY. William Blair raised shares of Corpay to a “strong-buy” rating in a research note on Thursday, August 8th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $310.00 target price on shares of Corpay in a research report on Thursday, August 8th. JPMorgan Chase & Co. increased their price objective on Corpay from $327.00 to $353.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 20th. BMO Capital Markets lifted their target price on Corpay from $350.00 to $390.00 and gave the company an “outperform” rating in a research report on Thursday, October 3rd. Finally, Barclays upped their target price on Corpay from $385.00 to $415.00 and gave the stock an “overweight” rating in a report on Monday, October 28th. Four equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $363.93.

Insider Activity

In other Corpay 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 completion of the sale, the director now directly owns 10,530 shares in the company, valued at $3,950,645.40. This trade represents a 22.03 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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.