Stifel Financial Corp Sells 2,004 Shares of Corpay, Inc. (NYSE:CPAY)

Stifel Financial Corp reduced its position in Corpay, Inc. (NYSE:CPAY) by 13.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,436 shares of the company’s stock after selling 2,004 shares during the quarter. Stifel Financial Corp’s holdings in Corpay were worth $3,889,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Blue Trust Inc. lifted its position in Corpay by 246.2% in the 2nd quarter. Blue Trust Inc. now owns 135 shares of the company’s stock worth $36,000 after buying an additional 96 shares during the last quarter. Raymond James & Associates lifted its holdings in shares of Corpay by 5.0% in the 2nd quarter. Raymond James & Associates now owns 67,271 shares of the company’s stock worth $17,922,000 after acquiring an additional 3,214 shares during the last quarter. First Citizens Bank & Trust Co. purchased a new stake in shares of Corpay in the 2nd quarter valued at $448,000. Capital Insight Partners LLC grew its holdings in shares of Corpay by 2.5% during the 2nd quarter. Capital Insight Partners LLC now owns 2,255 shares of the company’s stock valued at $601,000 after purchasing an additional 55 shares during the last quarter. Finally, Verdence Capital Advisors LLC raised its position in Corpay by 30.5% in the 2nd quarter. Verdence Capital Advisors LLC now owns 18,951 shares of the company’s stock worth $5,049,000 after purchasing an additional 4,433 shares during the period. 98.84% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Corpay news, 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 completion of the transaction, the director now owns 10,530 shares of the company’s stock, valued at approximately $3,950,645.40. This trade represents a 22.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 directly owns 1,797 shares in the company, 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 owned by corporate insiders.

Corpay Stock Up 0.1 %

Shares of NYSE:CPAY opened at $357.56 on Tuesday. The company has a debt-to-equity ratio of 1.69, a quick ratio of 1.05 and a current ratio of 1.05. Corpay, Inc. has a 52-week low of $247.10 and a 52-week high of $385.30. The firm has a market capitalization of $24.93 billion, a P/E ratio of 25.50, a P/E/G ratio of 1.43 and a beta of 1.24. The stock has a 50 day moving average price of $356.67 and a 200-day moving average price of $311.94.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on CPAY shares. Citigroup raised their price objective on Corpay from $405.00 to $430.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Jefferies Financial Group lifted their price target on Corpay from $375.00 to $425.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Wells Fargo & Company upped 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. BMO Capital Markets raised their price target on shares of Corpay from $400.00 to $440.00 and gave the stock an “outperform” rating in a report on Friday. Finally, Bank of America upped their price objective on shares of Corpay from $344.00 to $375.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. Four investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $369.29.

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.