Corpay, Inc. (NYSE:CPAY) Shares Sold by Long Path Partners LP

Long Path Partners LP lowered its position in shares of Corpay, Inc. (NYSE:CPAY) by 3.3% during the third quarter, HoldingsChannel.com reports. The fund owned 135,972 shares of the company’s stock after selling 4,688 shares during the quarter. Corpay accounts for about 13.8% of Long Path Partners LP’s holdings, making the stock its 2nd biggest position. Long Path Partners LP’s holdings in Corpay were worth $42,527,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Swedbank AB lifted its stake in Corpay by 46.3% in the third quarter. Swedbank AB now owns 186,117 shares of the company’s stock valued at $58,210,000 after buying an additional 58,900 shares during the period. Cerity Partners LLC increased its stake in shares of Corpay by 17.3% in the 3rd quarter. Cerity Partners LLC now owns 29,310 shares of the company’s stock valued at $9,167,000 after acquiring an additional 4,315 shares in the last quarter. Camden National Bank acquired a new position in shares of Corpay during the 3rd quarter valued at $237,000. Eagle Asset Management Inc. boosted its stake in Corpay by 2.4% during the third quarter. Eagle Asset Management Inc. now owns 357,397 shares of the company’s stock worth $111,779,000 after acquiring an additional 8,378 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Corpay by 0.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 458,477 shares of the company’s stock worth $143,393,000 after purchasing an additional 1,749 shares during the period. 98.84% of the stock is currently owned by institutional investors and hedge funds.

Corpay Stock Up 1.2 %

Corpay stock opened at $379.87 on Friday. Corpay, Inc. has a fifty-two week low of $230.68 and a fifty-two week high of $380.00. The firm’s 50-day simple moving average is $338.38 and its 200 day simple moving average is $301.23. The company has a debt-to-equity ratio of 1.69, a quick ratio of 1.05 and a current ratio of 1.05. The stock has a market cap of $26.48 billion, a PE ratio of 27.09, a price-to-earnings-growth ratio of 1.47 and a beta of 1.21.

Insider Transactions at Corpay

In other Corpay news, Director Joseph W. Farrelly sold 2,975 shares of the business’s stock in a transaction dated 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 transaction, the director now directly owns 10,530 shares in the company, valued at $3,950,645.40. The trade was a 22.03 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Alissa B. Vickery sold 8,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $370.04, for a total transaction of $2,960,320.00. Following the sale, the chief accounting officer now owns 1,797 shares of the company’s stock, valued at approximately $664,961.88. The trade was a 81.66 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 6.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on CPAY. Royal Bank of Canada reiterated a “sector perform” rating and set a $310.00 price objective on shares of Corpay in a report on Thursday, August 8th. BMO Capital Markets upped their price target on Corpay from $350.00 to $390.00 and gave the stock an “outperform” rating in a research note on Thursday, October 3rd. JPMorgan Chase & Co. raised their price objective on Corpay from $327.00 to $353.00 and gave the company an “overweight” rating in a research note on Tuesday, August 20th. Bank of America upped their target price on Corpay from $344.00 to $375.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. Finally, Raymond James reduced their price target on shares of Corpay from $330.00 to $311.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. 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 company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $363.93.

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.