Penserra Capital Management LLC Cuts Stock Holdings in Corpay, Inc. (NYSE:CPAY)

Penserra Capital Management LLC decreased its position in shares of Corpay, Inc. (NYSE:CPAY) by 5.4% during the third quarter, HoldingsChannel reports. The institutional investor owned 45,911 shares of the company’s stock after selling 2,614 shares during the period. Penserra Capital Management LLC’s holdings in Corpay were worth $14,357,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in CPAY. O Shaughnessy Asset Management LLC purchased a new stake in Corpay in the first quarter worth approximately $486,000. Bessemer Group Inc. purchased a new stake in Corpay in the first quarter worth approximately $352,000. American International Group Inc. purchased a new stake in Corpay in the first quarter worth approximately $6,208,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Corpay in the first quarter worth approximately $123,000. Finally, Advisors Asset Management Inc. purchased a new stake in Corpay in the first quarter worth approximately $71,000. Hedge funds and other institutional investors own 98.84% of the company’s stock.

Insider Buying and Selling 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. 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 transaction of $2,960,320.00. Following the completion of the sale, the chief accounting officer now owns 1,797 shares in the company, valued at approximately $664,961.88. This represents a 81.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 6.10% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on CPAY shares. Morgan Stanley raised 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. Royal Bank of Canada reiterated a “sector perform” rating and set a $310.00 price target on shares of Corpay in a research note on Thursday, August 8th. Wolfe Research upgraded shares of Corpay from an “underperform” rating to a “peer perform” rating in a research note on Tuesday, September 3rd. 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. Finally, Bank of America lifted their price target on shares of Corpay from $344.00 to $375.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. Four equities 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 company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $363.93.

Corpay Stock Up 1.2 %

Shares of CPAY stock opened at $379.87 on Friday. The company has a market capitalization of $26.48 billion, a price-to-earnings ratio of 27.09, a PEG ratio of 1.47 and a beta of 1.21. Corpay, Inc. has a one year low of $230.68 and a one year high of $380.00. The company’s fifty day moving average price is $338.38 and its 200-day moving average price is $301.23. The company has a debt-to-equity ratio of 1.69, a current ratio of 1.05 and a quick ratio of 1.05.

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.