Retirement Systems of Alabama Sells 255 Shares of Corpay, Inc. (NYSE:CPAY)

Retirement Systems of Alabama cut its stake in Corpay, Inc. (NYSE:CPAY) by 1.6% in the third quarter, Holdings Channel.com reports. The firm owned 15,245 shares of the company’s stock after selling 255 shares during the period. Retirement Systems of Alabama’s holdings in Corpay were worth $4,768,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently bought and sold shares of the company. Oppenheimer Asset Management Inc. lifted its stake in shares of Corpay by 66.7% in the third quarter. Oppenheimer Asset Management Inc. now owns 5,888 shares of the company’s stock valued at $1,842,000 after buying an additional 2,355 shares during the period. Swedbank AB raised its holdings in Corpay by 46.3% in the 3rd quarter. Swedbank AB now owns 186,117 shares of the company’s stock valued at $58,210,000 after acquiring an additional 58,900 shares in the last quarter. Wilkins Investment Counsel Inc. lifted its position in shares of Corpay by 16.8% in the 2nd quarter. Wilkins Investment Counsel Inc. now owns 22,425 shares of the company’s stock worth $5,974,000 after acquiring an additional 3,225 shares during the period. Retireful LLC acquired a new stake in shares of Corpay during the 3rd quarter worth approximately $702,000. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new stake in shares of Corpay during the third quarter valued at approximately $527,000. 98.84% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

CPAY has been the topic of a number of recent research reports. Barclays lifted their price target on shares of Corpay from $385.00 to $415.00 and gave the stock an “overweight” rating in a research note on Monday, October 28th. Morgan Stanley lifted their target price 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. BMO Capital Markets increased their price target on shares of Corpay from $400.00 to $440.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Jefferies Financial Group lifted their price objective on Corpay from $375.00 to $425.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Finally, Wells Fargo & Company upped their price objective on Corpay from $285.00 to $320.00 and gave the company an “equal weight” rating in a research note on Monday, October 21st. Four analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $369.29.

Corpay Trading Down 0.0 %

Shares of CPAY opened at $339.09 on Friday. The company has a debt-to-equity ratio of 1.69, a quick ratio of 1.05 and a current ratio of 1.05. The company has a market cap of $23.64 billion, a price-to-earnings ratio of 24.19, a PEG ratio of 1.43 and a beta of 1.24. The stock has a fifty day moving average price of $357.14 and a two-hundred day moving average price of $312.90. Corpay, Inc. has a 52-week low of $247.10 and a 52-week high of $385.30.

Insider Activity at Corpay

In other news, Director Joseph W. Farrelly sold 2,975 shares of the 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 directly owns 10,530 shares of the company’s stock, valued at $3,950,645.40. This represents a 22.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Alissa B. Vickery sold 8,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $370.04, for a total transaction of $2,960,320.00. Following the completion of the sale, the chief accounting officer now directly owns 1,797 shares of the company’s stock, valued at approximately $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 currently owned by company insiders.

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.