Citigroup Inc. Cuts Stake in Corpay, Inc. (NYSE:CPAY)

Citigroup Inc. lowered its holdings in shares of Corpay, Inc. (NYSE:CPAY) by 0.5% during the 3rd quarter, Holdings Channel.com reports. The firm owned 58,283 shares of the company’s stock after selling 292 shares during the quarter. Citigroup Inc.’s holdings in Corpay were worth $18,229,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. Whittier Trust Co. of Nevada Inc. raised its holdings in Corpay by 22.7% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 184 shares of the company’s stock valued at $58,000 after buying an additional 34 shares during the last quarter. Mather Group LLC. increased its position in shares of Corpay by 21.2% in the third quarter. Mather Group LLC. now owns 200 shares of the company’s stock valued at $63,000 after acquiring an additional 35 shares during the period. Epic Trust Investment Advisors LLC raised its stake in shares of Corpay by 4.1% during the second quarter. Epic Trust Investment Advisors LLC now owns 998 shares of the company’s stock valued at $266,000 after acquiring an additional 39 shares during the last quarter. Huntington National Bank boosted its holdings in shares of Corpay by 43.0% during the third quarter. Huntington National Bank now owns 133 shares of the company’s stock worth $42,000 after purchasing an additional 40 shares during the period. Finally, Massmutual Trust Co. FSB ADV grew its stake in shares of Corpay by 21.6% in the second quarter. Massmutual Trust Co. FSB ADV now owns 242 shares of the company’s stock worth $64,000 after purchasing an additional 43 shares during the last quarter. Hedge funds and other institutional investors own 98.84% of the company’s stock.

Corpay Trading Down 0.4 %

NYSE:CPAY opened at $380.60 on Thursday. The company’s 50-day simple moving average is $342.82 and its 200 day simple moving average is $303.14. Corpay, Inc. has a one year low of $231.30 and a one year high of $385.30. The firm has a market capitalization of $26.53 billion, a P/E ratio of 27.15, a PEG ratio of 1.49 and a beta of 1.21. The company has a debt-to-equity ratio of 1.69, a current ratio of 1.05 and a quick ratio of 1.05.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Morgan Stanley upped their price target on Corpay from $325.00 to $350.00 and gave the company an “equal weight” rating in a research report on Monday, November 11th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $310.00 price target on shares of Corpay in a research note on Thursday, August 8th. JPMorgan Chase & Co. boosted their price objective on shares of Corpay from $327.00 to $353.00 and gave the company an “overweight” rating in a research report on Tuesday, August 20th. Citigroup raised their target price on shares of Corpay from $405.00 to $430.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Finally, Wells Fargo & Company boosted their price target on shares of Corpay from $285.00 to $320.00 and gave the company an “equal weight” rating in a research report on Monday, October 21st. Four investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $363.93.

Insider Transactions at Corpay

In other Corpay news, CAO Alissa B. Vickery sold 8,000 shares of Corpay stock in a transaction 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 transaction, the chief accounting officer now owns 1,797 shares in the company, valued at approximately $664,961.88. The trade was a 81.66 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 completion of the sale, 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 disclosure for this sale can be found here. Insiders own 6.10% of the company’s stock.

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.