Bridgewater Associates LP Trims Stock Position in Corpay, Inc. (NYSE:CPAY)

Bridgewater Associates LP trimmed its holdings in Corpay, Inc. (NYSE:CPAY) by 3.1% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 134,084 shares of the company’s stock after selling 4,243 shares during the period. Bridgewater Associates LP owned approximately 0.19% of Corpay worth $41,936,000 at the end of the most recent quarter.

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

Insider Transactions at Corpay

In other Corpay news, CAO Alissa B. Vickery sold 8,000 shares of Corpay 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 transaction, the chief accounting officer now owns 1,797 shares of the company’s stock, valued at $664,961.88. The trade was a 81.66 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, 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 value of $1,116,160.50. Following the completion of the sale, the director now directly owns 10,530 shares of the company’s stock, valued at $3,950,645.40. The trade was 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.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on CPAY shares. Keefe, Bruyette & Woods boosted their price objective on Corpay from $380.00 to $400.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Jefferies Financial Group boosted their price target on shares of Corpay from $375.00 to $425.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Bank of America raised their price objective on shares of Corpay from $344.00 to $375.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. JPMorgan Chase & Co. upped their target price on shares of Corpay from $327.00 to $353.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 20th. Finally, Morgan Stanley increased their target price on shares of Corpay from $325.00 to $350.00 and gave the stock an “equal weight” rating in a 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 issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $363.93.

Corpay Stock Performance

NYSE:CPAY opened at $382.04 on Wednesday. Corpay, Inc. has a 12 month low of $230.68 and a 12 month high of $385.30. The company has a debt-to-equity ratio of 1.69, a current ratio of 1.05 and a quick ratio of 1.05. The firm has a market capitalization of $26.63 billion, a PE ratio of 27.25, a price-to-earnings-growth ratio of 1.49 and a beta of 1.21. The business’s fifty day moving average price is $341.36 and its 200 day moving average price is $302.59.

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.