KBC Group NV Sells 313 Shares of Corpay, Inc. (NYSE:CPAY)

KBC Group NV lessened its position in shares of Corpay, Inc. (NYSE:CPAY) by 2.5% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,442 shares of the company’s stock after selling 313 shares during the period. KBC Group NV’s holdings in Corpay were worth $3,892,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. acquired a new position in shares of Corpay in the 1st quarter valued at about $2,431,089,000. Price T Rowe Associates Inc. MD bought a new position in shares of Corpay during the 1st quarter worth approximately $1,355,377,000. Boston Partners acquired a new stake in shares of Corpay during the 1st quarter worth approximately $553,667,000. Third Point LLC bought a new stake in shares of Corpay in the 1st quarter valued at $200,551,000. Finally, American Century Companies Inc. lifted its position in shares of Corpay by 1,734.1% during the 2nd quarter. American Century Companies Inc. now owns 400,662 shares of the company’s stock valued at $106,740,000 after acquiring an additional 378,817 shares during the period. Institutional investors and hedge funds own 98.84% of the company’s stock.

Insider Activity at Corpay

In related news, Director Joseph W. Farrelly sold 2,975 shares of the firm’s stock in a transaction dated 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 completion of the sale, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 6.10% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Citigroup raised their price target on shares of Corpay from $405.00 to $430.00 and gave the stock a “buy” rating in a report on Thursday. Wolfe Research raised Corpay from an “underperform” rating to a “peer perform” rating in a research report on Tuesday, September 3rd. Wells Fargo & Company increased their price target on Corpay from $285.00 to $320.00 and gave the stock an “equal weight” rating in a report on Monday, October 21st. Barclays raised their price objective on shares of Corpay from $385.00 to $415.00 and gave the company an “overweight” rating in a research note on Monday, October 28th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Corpay from $380.00 to $400.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Four research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Corpay presently has a consensus rating of “Moderate Buy” and an average price target of $363.93.

Corpay Price Performance

Corpay stock opened at $363.36 on Monday. Corpay, Inc. has a 52 week low of $230.68 and a 52 week high of $375.98. The company’s 50 day moving average price is $331.97 and its two-hundred day moving average price is $298.77. The stock has a market cap of $25.33 billion, a P/E ratio of 25.92, a P/E/G ratio of 1.42 and a beta of 1.21. The company has a quick ratio of 1.02, a current ratio of 1.05 and a debt-to-equity ratio of 1.69.

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.