Crossmark Global Holdings Inc. Cuts Stock Position in Corpay, Inc. (NYSE:CPAY)

Crossmark Global Holdings Inc. decreased its holdings in shares of Corpay, Inc. (NYSE:CPAY) by 14.9% during the third quarter, HoldingsChannel reports. The institutional investor owned 2,930 shares of the company’s stock after selling 514 shares during the period. Crossmark Global Holdings Inc.’s holdings in Corpay were worth $916,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Albion Financial Group UT acquired a new position in Corpay during the third quarter worth $27,000. Headlands Technologies LLC acquired a new position in shares of Corpay during the 1st quarter worth about $31,000. LGT Financial Advisors LLC purchased a new position in Corpay in the 2nd quarter valued at about $33,000. Blue Trust Inc. boosted its holdings 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. Finally, Innealta Capital LLC purchased a new stake in Corpay during the 2nd quarter worth approximately $36,000. Hedge funds and other institutional investors own 98.84% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CPAY. Wolfe Research upgraded Corpay from an “underperform” rating to a “peer perform” rating in a research report on Tuesday, September 3rd. Wells Fargo & Company lifted their target price on shares of Corpay from $285.00 to $320.00 and gave the stock an “equal weight” rating in a research note on Monday, October 21st. BMO Capital Markets increased their target price on shares of Corpay from $350.00 to $390.00 and gave the company an “outperform” rating in a research report on Thursday, October 3rd. Citigroup upped their price objective on shares of Corpay from $405.00 to $430.00 and gave the company a “buy” rating in a research note on Thursday. Finally, Bank of America raised their target price on shares of Corpay from $344.00 to $375.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. 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, Corpay presently has a consensus rating of “Moderate Buy” and a consensus target price of $363.93.

Corpay Price Performance

Shares of CPAY opened at $370.39 on Friday. The firm has a 50-day simple moving average of $329.45 and a two-hundred day simple moving average of $297.86. The stock has a market cap of $25.82 billion, a PE ratio of 26.31, a P/E/G ratio of 1.46 and a beta of 1.21. Corpay, Inc. has a 1-year low of $230.68 and a 1-year high of $375.98. The company has a debt-to-equity ratio of 1.69, a current ratio of 1.05 and a quick ratio of 1.02.

Insider Activity

In other news, Director Joseph W. Farrelly sold 2,975 shares of Corpay stock in a transaction 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 sale, the director now directly owns 10,530 shares of the company’s stock, valued at approximately $3,950,645.40. The trade was a 22.03 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 6.10% of the company’s stock.

About Corpay

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.