Bank of Montreal Can Sells 40,052 Shares of Corpay, Inc. (NYSE:CPAY)

Bank of Montreal Can trimmed its position in shares of Corpay, Inc. (NYSE:CPAY) by 28.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 100,729 shares of the company’s stock after selling 40,052 shares during the period. Bank of Montreal Can’s holdings in Corpay were worth $31,351,000 as of its most recent SEC filing.

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

Analyst Ratings Changes

A number of research firms recently issued reports on CPAY. Morgan Stanley increased their price target on shares of Corpay from $325.00 to $350.00 and gave the stock an “equal weight” rating in a research note on Monday, November 11th. Wells Fargo & Company increased their price target on shares of Corpay from $285.00 to $320.00 and gave the stock an “equal weight” rating in a research note on Monday, October 21st. Jefferies Financial Group increased 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. Citigroup increased their price target on shares of Corpay from $405.00 to $430.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Finally, William Blair upgraded shares of Corpay to a “strong-buy” rating in a report on Thursday, August 8th. Four analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $363.93.

Insider Activity

In related news, CAO Alissa B. Vickery sold 8,000 shares of the stock in a transaction that occurred 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 transaction, the chief accounting officer now owns 1,797 shares in the company, valued at $664,961.88. This represents a 81.66 % 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, 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 approximately $3,950,645.40. This trade represents a 22.03 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 6.10% of the company’s stock.

Corpay Trading Down 0.4 %

NYSE:CPAY opened at $380.62 on Friday. The company’s 50 day moving average price is $344.18 and its 200-day moving average price is $303.68. Corpay, Inc. has a 52 week low of $231.30 and a 52 week high of $385.30. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 1.69. The stock has a market cap of $26.53 billion, a price-to-earnings ratio of 27.15, a PEG ratio of 1.49 and a beta of 1.21.

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.