Joseph W. Farrelly Sells 2,975 Shares of Corpay, Inc. (NYSE:CPAY) Stock

Corpay, Inc. (NYSE:CPAY) Director Joseph W. Farrelly sold 2,975 shares of Corpay stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $375.18, for a total transaction of $1,116,160.50. Following the completion of the transaction, the director now directly owns 10,530 shares of the company’s stock, valued at $3,950,645.40. This trade represents a 22.03 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Corpay Stock Performance

NYSE:CPAY opened at $363.36 on Friday. The company has a debt-to-equity ratio of 1.69, a quick ratio of 1.02 and a current ratio of 1.05. The stock has a 50-day simple moving average of $330.77 and a two-hundred day simple moving average of $298.37. The firm has a market capitalization of $25.33 billion, a PE ratio of 25.92, a P/E/G ratio of 1.44 and a beta of 1.21. Corpay, Inc. has a 52-week low of $230.68 and a 52-week high of $375.98.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in CPAY. Janney Montgomery Scott LLC bought a new stake in shares of Corpay during the 1st quarter valued at $316,000. Envestnet Portfolio Solutions Inc. bought a new stake in Corpay during the first quarter valued at about $966,000. Empowered Funds LLC purchased a new position in shares of Corpay in the first quarter valued at about $292,000. Sei Investments Co. purchased a new stake in shares of Corpay during the first quarter worth about $9,712,000. Finally, Headlands Technologies LLC bought a new stake in Corpay during the 1st quarter valued at approximately $31,000. 98.84% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on CPAY shares. Wells Fargo & Company boosted their price objective on shares of Corpay from $285.00 to $320.00 and gave the stock an “equal weight” rating in a report on Monday, October 21st. Citigroup upped their price target on Corpay from $405.00 to $430.00 and gave the company a “buy” rating in a report on Thursday. JPMorgan Chase & Co. upped their target price on shares of Corpay from $327.00 to $353.00 and gave the company an “overweight” rating in a research note on Tuesday, August 20th. Bank of America lifted their price target 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. Finally, Morgan Stanley increased their price objective on shares of Corpay from $325.00 to $350.00 and gave the company an “equal weight” rating in a research report on Monday, November 11th. Four equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $363.93.

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.