Corpay, Inc. (NYSE:CPAY) Shares Sold by TD Private Client Wealth LLC

TD Private Client Wealth LLC trimmed its holdings in shares of Corpay, Inc. (NYSE:CPAY) by 3.1% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 2,084 shares of the company’s stock after selling 67 shares during the period. TD Private Client Wealth LLC’s holdings in Corpay were worth $652,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Swedbank AB increased its holdings in shares of Corpay by 26.9% during the second quarter. Swedbank AB now owns 127,217 shares of the company’s stock valued at $33,892,000 after acquiring an additional 27,000 shares in the last quarter. TCW Group Inc. lifted its stake in shares of Corpay by 75.2% during the second quarter. TCW Group Inc. now owns 17,579 shares of the company’s stock worth $4,683,000 after buying an additional 7,543 shares during the period. Oppenheimer Asset Management Inc. lifted its position in Corpay by 66.7% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 5,888 shares of the company’s stock worth $1,842,000 after acquiring an additional 2,355 shares during the period. Wilkins Investment Counsel Inc. increased its holdings in shares of Corpay by 16.8% in the second quarter. Wilkins Investment Counsel Inc. now owns 22,425 shares of the company’s stock valued at $5,974,000 after purchasing an additional 3,225 shares during the period. Finally, Retireful LLC purchased a new position in shares of Corpay in the third quarter worth about $702,000. 98.84% of the stock is currently owned by hedge funds and other institutional investors.

Corpay Stock Down 1.2 %

Shares of CPAY opened at $357.10 on Friday. The firm has a market cap of $24.89 billion, a P/E ratio of 25.47, a PEG ratio of 1.43 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 stock’s 50 day moving average is $356.18 and its two-hundred day moving average is $310.63. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 1.69.

Wall Street Analyst Weigh In

CPAY has been the topic of several research reports. Keefe, Bruyette & Woods increased their price target on shares of Corpay from $400.00 to $425.00 and gave the stock an “outperform” rating in a report on Monday, December 9th. Wolfe Research upgraded shares of Corpay from an “underperform” rating to a “peer perform” rating in a research note on Tuesday, September 3rd. Morgan Stanley boosted their target price 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. Bank of America upped their price target on shares of Corpay from $344.00 to $375.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. Finally, Citigroup lifted their price objective on Corpay from $405.00 to $430.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Four research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Corpay currently has a consensus rating of “Moderate Buy” and a consensus target price of $369.29.

Insider Activity

In related news, CAO Alissa B. Vickery sold 8,000 shares of the company’s stock in a transaction dated 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 $664,961.88. This represents a 81.66 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Joseph W. Farrelly sold 2,975 shares of Corpay stock in a transaction dated 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 completion of the sale, the director now owns 10,530 shares in the company, valued at approximately $3,950,645.40. The trade was a 22.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 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.