Corpay, Inc. (NYSE:CPAY) Stock Position Cut by Douglas Lane & Associates LLC

Douglas Lane & Associates LLC decreased its stake in shares of Corpay, Inc. (NYSE:CPAY) by 51.1% during the 4th quarter, Holdings Channel reports. The institutional investor owned 1,555 shares of the company’s stock after selling 1,623 shares during the period. Douglas Lane & Associates LLC’s holdings in Corpay were worth $526,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the stock. American Century Companies Inc. raised its position in Corpay by 1,734.1% in the second quarter. American Century Companies Inc. now owns 400,662 shares of the company’s stock worth $106,740,000 after acquiring an additional 378,817 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in Corpay during the third quarter valued at approximately $40,497,000. JPMorgan Chase & Co. boosted its holdings in Corpay by 2.3% during the third quarter. JPMorgan Chase & Co. now owns 5,287,311 shares of the company’s stock worth $1,653,659,000 after buying an additional 120,578 shares in the last quarter. Prana Capital Management LP acquired a new position in Corpay in the third quarter worth approximately $31,541,000. Finally, FMR LLC increased its holdings in shares of Corpay by 3.0% in the third quarter. FMR LLC now owns 2,692,847 shares of the company’s stock valued at $842,215,000 after buying an additional 78,880 shares in the last quarter. 98.84% of the stock is owned by institutional investors and hedge funds.

Corpay Price Performance

Shares of NYSE:CPAY opened at $357.74 on Thursday. The firm has a market cap of $24.94 billion, a price-to-earnings ratio of 25.52, a P/E/G ratio of 1.40 and a beta of 1.24. Corpay, Inc. has a 1 year low of $247.10 and a 1 year high of $385.30. 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 business has a fifty day simple moving average of $357.15 and a 200 day simple moving average of $321.78.

Analysts Set New Price Targets

Several research firms have recently weighed in on CPAY. Bank of America raised their price objective on Corpay from $344.00 to $375.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. Wells Fargo & Company lifted their price target on Corpay from $285.00 to $320.00 and gave the stock an “equal weight” rating in a research note on Monday, October 21st. Morgan Stanley upped their price objective on shares of Corpay from $325.00 to $350.00 and gave the company an “equal weight” rating in a research note on Monday, November 11th. Citigroup lifted their target price on shares of Corpay from $405.00 to $430.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Finally, Barclays upped 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. Three investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $377.50.

Insiders Place Their Bets

In related news, CAO Alissa B. Vickery sold 8,000 shares of the business’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 value of $2,960,320.00. Following the completion of 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 sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Joseph W. Farrelly sold 2,975 shares of the firm’s stock in a transaction that occurred 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 directly owns 10,530 shares in the company, valued at approximately $3,950,645.40. The trade was a 22.03 % decrease in their position. The disclosure for this sale can be found here. Insiders own 6.10% of the company’s stock.

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.