Birch Capital Management LLC Reduces Holdings in Corpay, Inc. (NYSE:CPAY)

Birch Capital Management LLC reduced its position in Corpay, Inc. (NYSE:CPAY) by 2.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,289 shares of the company’s stock after selling 196 shares during the period. Corpay makes up about 1.2% of Birch Capital Management LLC’s holdings, making the stock its 25th biggest holding. Birch Capital Management LLC’s holdings in Corpay were worth $2,467,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of CPAY. Albion Financial Group UT purchased a new stake in Corpay during the 3rd quarter worth approximately $27,000. Versant Capital Management Inc increased its stake in shares of Corpay by 130.4% in the fourth quarter. Versant Capital Management Inc now owns 106 shares of the company’s stock worth $36,000 after buying an additional 60 shares during the last quarter. Huntington National Bank raised its holdings in Corpay by 43.0% in the third 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 bought a new position in Corpay during the 3rd quarter valued at $42,000. Finally, Continuum Advisory LLC increased its position in shares of Corpay by 47.9% in the 3rd quarter. Continuum Advisory LLC now owns 142 shares of the company’s stock worth $44,000 after purchasing an additional 46 shares during the last quarter. 98.84% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CPAY has been the subject of several research analyst reports. Bank of America boosted their price objective on Corpay from $344.00 to $375.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. Citigroup raised their price objective on Corpay from $405.00 to $430.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Morgan Stanley boosted their target price on shares of Corpay from $325.00 to $350.00 and gave the company an “equal weight” rating in a research note on Monday, November 11th. Jefferies Financial Group raised their price target on shares of Corpay from $375.00 to $425.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Finally, Keefe, Bruyette & Woods lowered 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. Four research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $368.57.

Insider Buying and Selling at Corpay

In other news, Director Joseph W. Farrelly sold 2,975 shares of the business’s stock in a transaction that occurred 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 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Alissa B. Vickery sold 8,000 shares of the firm’s 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 transaction, the chief accounting officer now directly owns 1,797 shares of the company’s stock, valued at $664,961.88. This represents a 81.66 % decrease in their position. The disclosure for this sale can be found here. 6.10% of the stock is owned by corporate insiders.

Corpay Price Performance

Shares of CPAY traded up $3.35 during midday trading on Tuesday, reaching $345.72. The stock had a trading volume of 145,073 shares, compared to its average volume of 324,466. The firm’s 50 day moving average price is $356.32 and its 200-day moving average price is $320.96. Corpay, Inc. has a 52 week low of $247.10 and a 52 week high of $385.30. The company has a market capitalization of $24.10 billion, a P/E ratio of 24.66, a P/E/G ratio of 1.40 and a beta of 1.24. The company has a debt-to-equity ratio of 1.69, a current ratio of 1.05 and a quick ratio of 1.05.

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.