Corpay, Inc. (NYSE:CPAY) Shares Sold by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA reduced its holdings in shares of Corpay, Inc. (NYSE:CPAY) by 0.2% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 182,960 shares of the company’s stock after selling 294 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 0.26% of Corpay worth $57,223,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in CPAY. Albion Financial Group UT acquired a new position in Corpay in the third quarter valued at approximately $27,000. LGT Financial Advisors LLC acquired a new position in shares of Corpay in the 2nd quarter valued at $33,000. Blue Trust Inc. raised its stake in Corpay by 246.2% during the 2nd quarter. Blue Trust Inc. now owns 135 shares of the company’s stock worth $36,000 after acquiring an additional 96 shares in the last quarter. Innealta Capital LLC acquired a new stake in Corpay during the 2nd quarter worth $36,000. Finally, Whittier Trust Co. of Nevada Inc. purchased a new stake in Corpay in the second quarter valued at $40,000. Hedge funds and other institutional investors own 98.84% of the company’s stock.

Insider Buying and Selling

In related news, Director Joseph W. Farrelly sold 2,975 shares of the firm’s 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 transaction, the director now directly owns 10,530 shares of the company’s stock, valued at $3,950,645.40. This trade represents a 22.03 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Alissa B. Vickery sold 8,000 shares of Corpay stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $370.04, for a total value of $2,960,320.00. Following the transaction, the chief accounting officer now directly owns 1,797 shares of the company’s stock, valued at approximately $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 currently owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have recently commented on the company. BMO Capital Markets lifted their target price on Corpay from $350.00 to $390.00 and gave the stock an “outperform” rating in a research report on Thursday, October 3rd. JPMorgan Chase & Co. increased their price objective on Corpay from $327.00 to $353.00 and gave the company an “overweight” rating in a report on Tuesday, August 20th. Keefe, Bruyette & Woods raised their target price on shares of Corpay from $380.00 to $400.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Wolfe Research upgraded shares of Corpay from an “underperform” rating to a “peer perform” rating in a research report on Tuesday, September 3rd. Finally, William Blair raised shares of Corpay to a “strong-buy” rating in a research report on Thursday, August 8th. Four equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Corpay currently has an average rating of “Moderate Buy” and an average target price of $363.93.

Corpay Stock Performance

NYSE CPAY opened at $379.87 on Monday. The stock has a market capitalization of $26.48 billion, a price-to-earnings ratio of 27.09, a PEG ratio of 1.47 and a beta of 1.21. The business’s 50 day moving average is $338.38 and its two-hundred day moving average is $301.21. Corpay, Inc. has a 12-month low of $230.68 and a 12-month high of $380.00. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 1.69.

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.