Townsquare Capital LLC Reduces Stock Position in Corpay, Inc. (NYSE:CPAY)

Townsquare Capital LLC cut its stake in Corpay, Inc. (NYSE:CPAY) by 49.6% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,640 shares of the company’s stock after selling 4,568 shares during the quarter. Townsquare Capital LLC’s holdings in Corpay were worth $1,451,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CPAY. Albion Financial Group UT bought a new position in Corpay in the 3rd quarter worth about $27,000. LGT Financial Advisors LLC bought a new position in shares of Corpay in the second quarter valued at approximately $33,000. Blue Trust Inc. increased its holdings 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 during the period. Innealta Capital LLC purchased a new stake in Corpay in the 2nd quarter worth approximately $36,000. Finally, Whittier Trust Co. of Nevada Inc. purchased a new position in shares of Corpay during the 2nd quarter valued at $40,000. 98.84% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CAO Alissa B. Vickery sold 8,000 shares of the stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $370.04, for a total transaction 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. This represents a 81.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Joseph W. Farrelly sold 2,975 shares of Corpay stock in a transaction on Wednesday, November 13th. The stock was 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 directly owns 10,530 shares in the company, valued at approximately $3,950,645.40. The trade was a 22.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 6.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Barclays increased their price objective on Corpay from $385.00 to $415.00 and gave the stock an “overweight” rating in a research report on Monday, October 28th. Wells Fargo & Company lifted their price target on Corpay from $285.00 to $320.00 and gave the company an “equal weight” rating in a research report on Monday, October 21st. Morgan Stanley boosted their price objective on Corpay from $325.00 to $350.00 and gave the stock an “equal weight” rating in a report on Monday, November 11th. Bank of America raised their target price 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. Finally, Wolfe Research raised shares of Corpay from an “underperform” rating to a “peer perform” rating in a research note on Tuesday, September 3rd. Four analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Corpay currently has an average rating of “Moderate Buy” and a consensus price target of $363.93.

Corpay Price Performance

Shares of NYSE:CPAY opened at $381.18 on Monday. 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 PE ratio of 27.19, a PEG ratio of 1.49 and a beta of 1.21. The company’s fifty day moving average is $345.66 and its 200 day moving average is $304.65. Corpay, Inc. has a 52 week low of $236.15 and a 52 week high of $385.30.

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.