Glenmede Trust Co. NA Decreases Stock Holdings in Corpay, Inc. (NYSE:CPAY)

Glenmede Trust Co. NA reduced its position in shares of Corpay, Inc. (NYSE:CPAY) by 8.5% in the third quarter, HoldingsChannel.com reports. The firm owned 61,267 shares of the company’s stock after selling 5,705 shares during the period. Glenmede Trust Co. NA’s holdings in Corpay were worth $19,162,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Advisors Asset Management Inc. purchased a new stake in Corpay in the 1st quarter worth approximately $71,000. Janus Henderson Group PLC bought a new position in shares of Corpay during the first quarter valued at approximately $2,827,000. Comerica Bank purchased a new stake in Corpay in the first quarter worth $11,371,000. Plato Investment Management Ltd bought a new stake in Corpay in the first quarter valued at $194,000. Finally, Swedbank AB purchased a new position in Corpay during the 1st quarter valued at $30,921,000. 98.84% of the stock is owned by institutional investors.

Corpay Stock Performance

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

Insider Transactions at Corpay

In related news, CAO Alissa B. Vickery sold 8,000 shares of Corpay stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $370.04, for a total value of $2,960,320.00. Following the completion of the sale, the chief accounting officer now directly owns 1,797 shares in the company, valued at approximately $664,961.88. This trade represents a 81.66 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Joseph W. Farrelly sold 2,975 shares of the business’s stock in a transaction dated 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 transaction, the director now directly owns 10,530 shares of the company’s stock, 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. Insiders own 6.10% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on CPAY shares. Jefferies Financial Group lifted their target price on shares of Corpay from $375.00 to $425.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Raymond James cut their price objective on Corpay from $330.00 to $311.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Citigroup increased their target price on Corpay from $405.00 to $430.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Bank of America lifted their price target on Corpay from $344.00 to $375.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. Finally, Morgan Stanley increased their price objective on 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 issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Corpay presently has an average rating of “Moderate Buy” and an average price target of $363.93.

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.