Corpay, Inc. (NYSE:CPAY) Stock Position Reduced by Swiss National Bank

Swiss National Bank decreased its stake in Corpay, Inc. (NYSE:CPAY) by 1.9% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 198,200 shares of the company’s stock after selling 3,900 shares during the quarter. Swiss National Bank’s holdings in Corpay were worth $61,989,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Janney Montgomery Scott LLC purchased a new stake in shares of Corpay during the first quarter worth $316,000. Blair William & Co. IL bought a new stake in shares of Corpay in the 1st quarter valued at approximately $516,000. Mitsubishi UFJ Trust & Banking Corp acquired a new position in Corpay in the first quarter worth approximately $12,069,000. Covestor Ltd bought a new position in Corpay during the first quarter valued at approximately $65,000. Finally, Ameritas Investment Partners Inc. acquired a new stake in Corpay in the first quarter valued at approximately $247,000. Institutional investors and hedge funds own 98.84% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on CPAY shares. Wells Fargo & Company raised their price target on shares of Corpay from $285.00 to $320.00 and gave the company an “equal weight” rating in a report on Monday, October 21st. Raymond James reduced their price target on Corpay from $330.00 to $311.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Jefferies Financial Group increased their price objective on Corpay from $375.00 to $425.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Bank of America boosted their target price on Corpay from $344.00 to $375.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. Finally, Wolfe Research upgraded Corpay from an “underperform” rating to a “peer perform” rating in a report on Tuesday, September 3rd. 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. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $363.93.

Corpay Price Performance

Shares of CPAY stock opened at $368.16 on Wednesday. Corpay, Inc. has a 12 month low of $230.68 and a 12 month high of $375.98. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 1.69. The stock has a 50 day moving average of $334.29 and a two-hundred day moving average of $299.71. The company has a market capitalization of $25.66 billion, a P/E ratio of 26.26, a P/E/G ratio of 1.42 and a beta of 1.21.

Insider Activity

In other Corpay news, Director Joseph W. Farrelly sold 2,975 shares of the company’s stock in a transaction 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 sale, the director now directly owns 10,530 shares in the company, valued at $3,950,645.40. This represents a 22.03 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate 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.