Douglas Lane & Associates LLC Cuts Position in Corpay, Inc. (NYSE:CPAY)

Douglas Lane & Associates LLC lowered its position in shares of Corpay, Inc. (NYSE:CPAY) by 51.1% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 1,555 shares of the company’s stock after selling 1,623 shares during the quarter. Douglas Lane & Associates LLC’s holdings in Corpay were worth $526,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Albion Financial Group UT purchased a new stake in Corpay during the third quarter worth approximately $27,000. Versant Capital Management Inc lifted its holdings in shares of Corpay by 130.4% during the 4th quarter. Versant Capital Management Inc now owns 106 shares of the company’s stock valued at $36,000 after acquiring an additional 60 shares in the last quarter. Huntington National Bank lifted its holdings in shares of Corpay by 43.0% during the 3rd quarter. Huntington National Bank now owns 133 shares of the company’s stock valued at $42,000 after acquiring an additional 40 shares in the last quarter. Quarry LP acquired a new stake in Corpay in the 3rd quarter valued at $42,000. Finally, Continuum Advisory LLC raised its position in Corpay by 47.9% in the third quarter. Continuum Advisory LLC now owns 142 shares of the company’s stock valued at $44,000 after purchasing an additional 46 shares during the period. Institutional investors and hedge funds own 98.84% of the company’s stock.

Corpay Stock Performance

Shares of CPAY opened at $357.74 on Thursday. The stock has a market capitalization of $24.94 billion, a PE ratio of 25.52, a price-to-earnings-growth ratio of 1.40 and a beta of 1.24. The business’s fifty day moving average price is $357.15 and its 200 day moving average price is $321.78. The company has a debt-to-equity ratio of 1.69, a current ratio of 1.05 and a quick ratio of 1.05. Corpay, Inc. has a 12-month low of $247.10 and a 12-month high of $385.30.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on CPAY. Citigroup upped their target price on Corpay from $405.00 to $430.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Wolfe Research raised shares of Corpay from a “peer perform” rating to an “outperform” rating and set a $420.00 price objective for the company in a research report on Wednesday. BMO Capital Markets lifted their price objective on shares of Corpay from $400.00 to $440.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Wells Fargo & Company upped their target price on shares of Corpay from $285.00 to $320.00 and gave the company an “equal weight” rating in a research note on Monday, October 21st. Finally, Keefe, Bruyette & Woods decreased their price objective on shares of Corpay from $425.00 to $415.00 and set an “outperform” rating for the company in a research report on Monday. Three investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $377.50.

Insiders Place Their Bets

In other Corpay news, CAO Alissa B. Vickery sold 8,000 shares of Corpay 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 transaction, the chief accounting officer now directly owns 1,797 shares in the company, valued at $664,961.88. The trade was a 81.66 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Joseph W. Farrelly sold 2,975 shares of the stock in a transaction that occurred 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 sale, the director now owns 10,530 shares in the company, valued at $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. 6.10% of the stock is owned by corporate insiders.

Corpay Company 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.