iA Global Asset Management Inc. Has $869,000 Holdings in Corpay, Inc. (NYSE:CPAY)

iA Global Asset Management Inc. trimmed its stake in shares of Corpay, Inc. (NYSE:CPAY) by 42.2% during the third quarter, Holdings Channel.com reports. The firm owned 2,778 shares of the company’s stock after selling 2,029 shares during the period. iA Global Asset Management Inc.’s holdings in Corpay were worth $869,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Albion Financial Group UT acquired a new stake in shares of Corpay during the third quarter worth about $27,000. LGT Financial Advisors LLC acquired a new stake in shares of Corpay during the second quarter worth $33,000. Blue Trust Inc. increased its holdings in shares of Corpay by 246.2% during the second quarter. Blue Trust Inc. now owns 135 shares of the company’s stock worth $36,000 after purchasing an additional 96 shares during the period. Innealta Capital LLC acquired a new position in Corpay in the 2nd quarter valued at $36,000. Finally, Whittier Trust Co. of Nevada Inc. acquired a new position in shares of Corpay in the 2nd quarter valued at approximately $40,000. 98.84% of the stock is owned by institutional investors.

Corpay Trading Down 1.2 %

NYSE CPAY opened at $361.23 on Tuesday. The stock has a market cap of $25.18 billion, a P/E ratio of 25.77, a P/E/G ratio of 1.43 and a beta of 1.24. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 1.69. The stock’s fifty day moving average price is $352.03 and its 200-day moving average price is $308.00. Corpay, Inc. has a 12 month low of $247.10 and a 12 month high of $385.30.

Analysts Set New Price Targets

CPAY has been the subject of a number of research reports. Keefe, Bruyette & Woods raised their price objective on shares of Corpay from $400.00 to $425.00 and gave the company an “outperform” rating in a report on Monday. BMO Capital Markets upped their target price on Corpay from $350.00 to $390.00 and gave the stock an “outperform” rating in a research report on Thursday, October 3rd. Morgan Stanley lifted their price target on Corpay from $325.00 to $350.00 and gave the company an “equal weight” rating in a research note on Monday, November 11th. JPMorgan Chase & Co. upped their price objective on shares of Corpay from $327.00 to $353.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 20th. Finally, Wells Fargo & Company lifted their price target 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. Four research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $365.71.

Insider Buying and Selling at Corpay

In related 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 transaction, the director now owns 10,530 shares in the company, valued at $3,950,645.40. This represents a 22.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 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 trade represents a 81.66 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 6.10% of the company’s stock.

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.