Kentucky Retirement Systems Sells 458 Shares of Corpay, Inc. (NYSE:CPAY)

Kentucky Retirement Systems reduced its position in shares of Corpay, Inc. (NYSE:CPAY) by 8.6% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,837 shares of the company’s stock after selling 458 shares during the quarter. Kentucky Retirement Systems’ holdings in Corpay were worth $1,513,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of CPAY. Empirical Finance LLC increased its position in shares of Corpay by 1.8% during the third quarter. Empirical Finance LLC now owns 2,493 shares of the company’s stock valued at $780,000 after acquiring an additional 43 shares in the last quarter. CIBC Asset Management Inc boosted its stake in Corpay by 7.3% during the 3rd quarter. CIBC Asset Management Inc now owns 10,196 shares of the company’s stock valued at $3,189,000 after purchasing an additional 691 shares during the last quarter. Huntington National Bank boosted its stake in Corpay by 43.0% during the 3rd quarter. Huntington National Bank now owns 133 shares of the company’s stock valued at $42,000 after purchasing an additional 40 shares during the last quarter. Oppenheimer Asset Management Inc. increased its holdings in shares of Corpay by 66.7% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 5,888 shares of the company’s stock worth $1,842,000 after purchasing an additional 2,355 shares in the last quarter. Finally, Pinnacle Financial Partners Inc raised its stake in shares of Corpay by 0.8% in the third quarter. Pinnacle Financial Partners Inc now owns 27,963 shares of the company’s stock worth $8,746,000 after purchasing an additional 214 shares during the last quarter. 98.84% of the stock is owned by hedge funds and other institutional investors.

Corpay Price Performance

Shares of Corpay stock opened at $364.58 on Tuesday. The stock’s fifty day moving average is $333.12 and its 200 day moving average is $299.23. Corpay, Inc. has a one year low of $230.68 and a one year high of $375.98. 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 market cap of $25.42 billion, a P/E ratio of 26.00, a P/E/G ratio of 1.42 and a beta of 1.21.

Insider Transactions at Corpay

In other Corpay 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 value of $1,116,160.50. Following the sale, the director now directly owns 10,530 shares in the company, valued at approximately $3,950,645.40. The trade was a 22.03 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 6.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Jefferies Financial Group increased their price objective on Corpay from $375.00 to $425.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Morgan Stanley raised their price target on shares of Corpay from $325.00 to $350.00 and gave the company an “equal weight” rating in a report on Monday, November 11th. William Blair upgraded shares of Corpay to a “strong-buy” rating in a research note on Thursday, August 8th. JPMorgan Chase & Co. increased 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. Finally, Barclays lifted their target price on shares of Corpay from $385.00 to $415.00 and gave the stock an “overweight” rating in a research report on Monday, October 28th. Four 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.com, the company presently has an average rating of “Moderate Buy” and an average target price of $363.93.

Corpay 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.