Citigroup Inc. Sells 292 Shares of Corpay, Inc. (NYSE:CPAY)

Citigroup Inc. lessened its holdings in Corpay, Inc. (NYSE:CPAY) by 0.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 58,283 shares of the company’s stock after selling 292 shares during the quarter. Citigroup Inc. owned 0.08% of Corpay worth $18,229,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Albion Financial Group UT bought a new position in Corpay in the third quarter valued at approximately $27,000. LGT Financial Advisors LLC bought a new position in shares of Corpay in the second quarter valued at $33,000. Blue Trust Inc. increased its holdings in Corpay by 246.2% during the second 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. Innealta Capital LLC bought a new stake in Corpay during the second quarter worth $36,000. Finally, Whittier Trust Co. of Nevada Inc. acquired a new stake in Corpay in the second quarter valued at $40,000. Institutional investors and hedge funds own 98.84% of the company’s stock.

Wall Street Analyst Weigh In

CPAY has been the topic of a number of research analyst reports. William Blair raised shares of Corpay to a “strong-buy” rating in a report on Thursday, August 8th. Jefferies Financial Group raised their price objective on Corpay from $375.00 to $425.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Bank of America boosted their target price on Corpay from $344.00 to $375.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $310.00 price target on shares of Corpay in a report on Thursday, August 8th. Finally, Wolfe Research upgraded shares of Corpay from an “underperform” rating to a “peer perform” rating in a report on Tuesday, September 3rd. Four investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $363.93.

Corpay Price Performance

NYSE:CPAY opened at $380.60 on Thursday. Corpay, Inc. has a 52-week low of $231.30 and a 52-week high of $385.30. The stock has a fifty day moving average of $342.82 and a 200 day moving average of $303.14. The company has a debt-to-equity ratio of 1.69, a quick ratio of 1.05 and a current ratio of 1.05. The firm has a market capitalization of $26.53 billion, a price-to-earnings ratio of 27.15, a P/E/G ratio of 1.49 and a beta of 1.21.

Insider Activity

In related news, Director Joseph W. Farrelly sold 2,975 shares of the stock in a transaction 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 transaction, the director now owns 10,530 shares of the company’s stock, valued at $3,950,645.40. This represents a 22.03 % 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, CAO Alissa B. Vickery sold 8,000 shares of the firm’s stock in a transaction dated 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 sale, the chief accounting officer now owns 1,797 shares in the company, valued at $664,961.88. The trade was a 81.66 % decrease in their position. The disclosure for this sale can be found here. Corporate 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.