Bank of Montreal Can Sells 40,052 Shares of Corpay, Inc. (NYSE:CPAY)

Bank of Montreal Can lessened its stake in Corpay, Inc. (NYSE:CPAY) by 28.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 100,729 shares of the company’s stock after selling 40,052 shares during the quarter. Bank of Montreal Can owned approximately 0.14% of Corpay worth $31,351,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of CPAY. Advisors Asset Management Inc. bought a new stake in shares of Corpay in the 1st quarter worth approximately $71,000. Janus Henderson Group PLC purchased a new position in Corpay in the 1st quarter valued at approximately $2,827,000. Comerica Bank purchased a new position in Corpay in the 1st quarter valued at approximately $11,371,000. Plato Investment Management Ltd purchased a new position in Corpay in the 1st quarter valued at approximately $194,000. Finally, Swedbank AB purchased a new position in Corpay in the 1st quarter valued at approximately $30,921,000. Institutional investors own 98.84% of the company’s stock.

Corpay Stock Down 0.4 %

Shares of NYSE:CPAY opened at $380.62 on Friday. Corpay, Inc. has a 52-week low of $231.30 and a 52-week high of $385.30. The firm has a fifty day moving average of $344.18 and a 200 day moving average of $303.68. The firm has a market capitalization of $26.53 billion, a PE ratio of 27.15, a price-to-earnings-growth ratio of 1.49 and a beta of 1.21. The company has a debt-to-equity ratio of 1.69, a quick ratio of 1.05 and a current ratio of 1.05.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on CPAY. Jefferies Financial Group lifted their price objective on shares of Corpay from $375.00 to $425.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. BMO Capital Markets lifted their price objective on shares of Corpay from $350.00 to $390.00 and gave the company an “outperform” rating in a research note on Thursday, October 3rd. JPMorgan Chase & Co. boosted their price target on shares of Corpay from $327.00 to $353.00 and gave the company an “overweight” rating in a research report on Tuesday, August 20th. Barclays boosted their price target on shares of Corpay from $385.00 to $415.00 and gave the company an “overweight” rating in a research report on Monday, October 28th. Finally, William Blair upgraded shares of Corpay to a “strong-buy” rating 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 stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $363.93.

Insider Buying and Selling

In other Corpay news, Director Joseph W. Farrelly sold 2,975 shares of the business’s stock in a transaction 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 of the company’s stock, 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 document filed with the SEC, which is available at the SEC website. Also, CAO Alissa B. Vickery sold 8,000 shares of the business’s stock in a transaction 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 completion of the sale, the chief accounting officer now directly owns 1,797 shares of the company’s stock, valued at $664,961.88. This represents a 81.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 6.10% of the stock is owned by company insiders.

Corpay 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.