Corpay, Inc. (NYSE:CPAY) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company lessened its stake in shares of Corpay, Inc. (NYSE:CPAY) by 4.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 42,643 shares of the company’s stock after selling 2,132 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.06% of Corpay worth $13,335,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Whittier Trust Co. of Nevada Inc. increased its position in shares of Corpay by 22.7% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 184 shares of the company’s stock valued at $58,000 after purchasing an additional 34 shares during the period. Mather Group LLC. grew its holdings in Corpay by 21.2% during the third quarter. Mather Group LLC. now owns 200 shares of the company’s stock worth $63,000 after acquiring an additional 35 shares during the period. Epic Trust Investment Advisors LLC grew its holdings in Corpay by 4.1% during the second quarter. Epic Trust Investment Advisors LLC now owns 998 shares of the company’s stock worth $266,000 after acquiring an additional 39 shares during the period. Huntington National Bank raised its position in Corpay by 43.0% in the third quarter. Huntington National Bank now owns 133 shares of the company’s stock worth $42,000 after acquiring an additional 40 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV lifted its holdings in Corpay by 21.6% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 242 shares of the company’s stock valued at $64,000 after acquiring an additional 43 shares during the last quarter. Institutional investors own 98.84% of the company’s stock.

Corpay Trading Up 0.1 %

Corpay stock opened at $381.18 on Monday. Corpay, Inc. has a 12 month low of $236.15 and a 12 month high of $385.30. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 1.69. The stock has a market cap of $26.57 billion, a P/E ratio of 27.19, a P/E/G ratio of 1.49 and a beta of 1.21. The company’s fifty day simple moving average is $345.66 and its 200-day simple moving average is $304.65.

Insider Buying and Selling at Corpay

In other Corpay news, CAO Alissa B. Vickery sold 8,000 shares of Corpay stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $370.04, for a total value of $2,960,320.00. Following the completion of the sale, the chief accounting officer now directly owns 1,797 shares in the company, valued at $664,961.88. The trade was a 81.66 % 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, Director Joseph W. Farrelly sold 2,975 shares of the firm’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $375.18, for a total transaction of $1,116,160.50. Following the transaction, the director now owns 10,530 shares in the company, valued at $3,950,645.40. This represents a 22.03 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 6.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Bank of America boosted their target price on shares of Corpay from $344.00 to $375.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. Citigroup increased their price objective on Corpay from $405.00 to $430.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. BMO Capital Markets lifted their target price on Corpay from $350.00 to $390.00 and gave the stock an “outperform” rating in a report on Thursday, October 3rd. Raymond James reduced their target price on Corpay from $330.00 to $311.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Finally, Barclays lifted their price target on Corpay from $385.00 to $415.00 and gave the stock an “overweight” rating in a research note on Monday, October 28th. Four investment 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. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $363.93.

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.