Chevy Chase Trust Holdings LLC Lowers Stock Holdings in Corpay, Inc. (NYSE:CPAY)

Chevy Chase Trust Holdings LLC lowered its holdings in shares of Corpay, Inc. (NYSE:CPAY) by 3.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 37,227 shares of the company’s stock after selling 1,133 shares during the quarter. Chevy Chase Trust Holdings LLC owned approximately 0.05% of Corpay worth $11,643,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Albion Financial Group UT purchased a new position in shares of Corpay in the third quarter valued at approximately $27,000. LGT Financial Advisors LLC purchased a new position in shares of Corpay in the second quarter valued at approximately $33,000. Blue Trust Inc. lifted its position in shares of Corpay by 246.2% in the second quarter. Blue Trust Inc. now owns 135 shares of the company’s stock valued at $36,000 after acquiring an additional 96 shares in the last quarter. Innealta Capital LLC purchased a new position in shares of Corpay in the second quarter valued at approximately $36,000. Finally, Whittier Trust Co. of Nevada Inc. purchased a new position in shares of Corpay in the second quarter valued at approximately $40,000. Hedge funds and other institutional investors own 98.84% of the company’s stock.

Wall Street Analysts Forecast Growth

CPAY has been the topic of several research reports. Jefferies Financial Group raised their target price on Corpay from $375.00 to $425.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Barclays lifted their price objective on Corpay from $385.00 to $415.00 and gave the stock an “overweight” rating in a research report on Monday, October 28th. JPMorgan Chase & Co. lifted their price objective on Corpay from $327.00 to $353.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 20th. Morgan Stanley lifted their price objective on Corpay from $325.00 to $350.00 and gave the stock an “equal weight” rating in a research report on Monday, November 11th. Finally, Bank of America lifted their price objective on Corpay from $344.00 to $375.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. Four analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $363.93.

Insider Activity

In other news, Director Joseph W. Farrelly sold 2,975 shares of Corpay stock in a transaction on Wednesday, November 13th. The stock was 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 approximately $3,950,645.40. The trade was a 22.03 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO Alissa B. Vickery sold 8,000 shares of Corpay stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $370.04, for a total value of $2,960,320.00. Following the completion of the transaction, the chief accounting officer now owns 1,797 shares of the company’s stock, valued at approximately $664,961.88. This trade represents a 81.66 % 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.

Corpay Trading Down 1.0 %

Shares of NYSE CPAY opened at $370.84 on Thursday. Corpay, Inc. has a twelve month low of $247.10 and a twelve month high of $385.30. 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 has a fifty day simple moving average of $349.72 and a 200-day simple moving average of $306.48. The stock has a market capitalization of $25.85 billion, a PE ratio of 26.45, a PEG ratio of 1.50 and a beta of 1.24.

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.