Joseph W. Farrelly Sells 2,975 Shares of Corpay, Inc. (NYSE:CPAY) Stock

Corpay, Inc. (NYSE:CPAY) Director Joseph W. Farrelly sold 2,975 shares of the stock in a transaction that occurred on 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 sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Corpay Stock Performance

CPAY traded down $0.38 on Thursday, reaching $370.39. 405,435 shares of the stock were exchanged, compared to its average volume of 474,330. The company’s 50-day moving average price is $329.45 and its 200 day moving average price is $297.86. Corpay, Inc. has a fifty-two week low of $230.68 and a fifty-two week high of $375.98. 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 firm has a market capitalization of $25.82 billion, a PE ratio of 26.31, a PEG ratio of 1.46 and a beta of 1.21.

Analysts Set New Price Targets

Several research analysts have commented on CPAY shares. William Blair upgraded Corpay to a “strong-buy” rating in a report on Thursday, August 8th. JPMorgan Chase & Co. raised their price objective on Corpay from $327.00 to $353.00 and gave the stock an “overweight” rating in a report on Tuesday, August 20th. BMO Capital Markets raised their price objective on Corpay from $350.00 to $390.00 and gave the stock an “outperform” rating in a report on Thursday, October 3rd. 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. Finally, Morgan Stanley increased their target price on Corpay from $325.00 to $350.00 and gave the company an “equal weight” rating in a research report on Monday. Four 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 company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $363.93.

Institutional Trading of Corpay

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Albion Financial Group UT purchased a new position in shares of Corpay during the 3rd quarter valued at approximately $27,000. Headlands Technologies LLC purchased a new stake in shares of Corpay during the first quarter worth about $31,000. LGT Financial Advisors LLC acquired a new stake in Corpay in the 2nd quarter worth about $33,000. RFP Financial Group LLC acquired a new position in shares of Corpay during the first quarter valued at approximately $35,000. Finally, Blue Trust Inc. lifted its position in shares of Corpay by 246.2% in the second quarter. Blue Trust Inc. now owns 135 shares of the company’s stock valued at $36,000 after acquiring an additional 96 shares in the last quarter. Institutional investors and hedge funds own 98.84% of the company’s stock.

About Corpay

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.