Empowered Funds LLC Sells 4,127 Shares of Corpay, Inc. (NYSE:CPAY)

Empowered Funds LLC lowered its position in shares of Corpay, Inc. (NYSE:CPAY) by 78.5% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,130 shares of the company’s stock after selling 4,127 shares during the quarter. Empowered Funds LLC’s holdings in Corpay were worth $353,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in CPAY. Boston Partners acquired a new position in shares of Corpay in the 1st quarter valued at approximately $553,667,000. Mawer Investment Management Ltd. raised its position in Corpay by 1.1% in the 2nd quarter. Mawer Investment Management Ltd. now owns 1,177,297 shares of the company’s stock valued at $313,644,000 after buying an additional 12,338 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Corpay by 10.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 718,752 shares of the company’s stock valued at $191,497,000 after acquiring an additional 70,408 shares in the last quarter. American Century Companies Inc. boosted its position in Corpay by 1,734.1% during the 2nd 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 during the last quarter. Finally, Thompson Siegel & Walmsley LLC grew its stake in shares of Corpay by 12.2% during the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 266,272 shares of the company’s stock worth $70,938,000 after acquiring an additional 28,959 shares in the last quarter. Institutional investors and hedge funds own 98.84% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on CPAY. Wolfe Research upgraded Corpay from an “underperform” rating to a “peer perform” rating in a report on Tuesday, September 3rd. Keefe, Bruyette & Woods raised their price target on Corpay from $380.00 to $400.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Morgan Stanley boosted their price target on Corpay from $325.00 to $350.00 and gave the stock an “equal weight” rating in a research report on Monday, November 11th. Barclays increased their price objective on Corpay from $385.00 to $415.00 and gave the company an “overweight” rating in a report on Monday, October 28th. Finally, William Blair raised shares of Corpay to a “strong-buy” rating in a research report on Thursday, August 8th. Four research 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. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $363.93.

Insider Transactions at Corpay

In related news, Director Joseph W. Farrelly sold 2,975 shares of the company’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $375.18, for a total value 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. This represents a 22.03 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Alissa B. Vickery sold 8,000 shares of Corpay stock in a transaction dated 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 $664,961.88. This trade represents 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 Stock Performance

NYSE CPAY opened at $381.53 on Tuesday. The stock has a market cap of $26.60 billion, a PE ratio of 27.21, a P/E/G ratio of 1.49 and a beta of 1.21. 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 50-day moving average of $339.86 and a 200-day moving average of $301.90. Corpay, Inc. has a 52-week low of $230.68 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.