Birch Capital Management LLC Sells 196 Shares of Corpay, Inc. (NYSE:CPAY)

Birch Capital Management LLC decreased its holdings in shares of Corpay, Inc. (NYSE:CPAY) by 2.6% during the 4th quarter, HoldingsChannel.com reports. The firm owned 7,289 shares of the company’s stock after selling 196 shares during the period. Corpay makes up approximately 1.2% of Birch Capital Management LLC’s portfolio, making the stock its 25th largest position. Birch Capital Management LLC’s holdings in Corpay were worth $2,467,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of CPAY. Albion Financial Group UT acquired a new position in Corpay during the third quarter worth $27,000. Versant Capital Management Inc boosted its stake in shares of Corpay by 130.4% during the 4th quarter. Versant Capital Management Inc now owns 106 shares of the company’s stock worth $36,000 after acquiring an additional 60 shares in the last quarter. Huntington National Bank increased its holdings in shares of Corpay by 43.0% during the 3rd quarter. Huntington National Bank now owns 133 shares of the company’s stock valued at $42,000 after acquiring an additional 40 shares during the last quarter. Quarry LP bought a new position in shares of Corpay in the 3rd quarter valued at approximately $42,000. Finally, Continuum Advisory LLC raised its stake in shares of Corpay by 47.9% in the 3rd quarter. Continuum Advisory LLC now owns 142 shares of the company’s stock valued at $44,000 after acquiring an additional 46 shares in the last quarter. Institutional investors own 98.84% of the company’s stock.

Insider Activity at Corpay

In other Corpay news, CAO Alissa B. Vickery sold 8,000 shares of the business’s stock in a transaction dated Wednesday, November 20th. The stock was 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 directly owns 1,797 shares of the company’s stock, valued at approximately $664,961.88. The trade was a 81.66 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Joseph W. Farrelly sold 2,975 shares of Corpay stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $375.18, for a total transaction of $1,116,160.50. Following the sale, the director now owns 10,530 shares of the company’s stock, valued at approximately $3,950,645.40. This represents a 22.03 % decrease in their position. The disclosure for this sale can be found here. 6.10% of the stock is currently owned by company insiders.

Corpay Price Performance

CPAY stock traded up $3.35 during midday trading on Tuesday, reaching $345.72. 145,073 shares of the company’s stock traded hands, compared to its average volume of 324,466. The company has a 50-day simple moving average of $356.32 and a two-hundred day simple moving average of $320.96. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 1.69. Corpay, Inc. has a 1-year low of $247.10 and a 1-year high of $385.30. The company has a market cap of $24.10 billion, a price-to-earnings ratio of 24.66, a PEG ratio of 1.40 and a beta of 1.24.

Analyst Ratings Changes

CPAY has been the topic of a number of research analyst reports. Wells Fargo & Company raised their target price on shares of Corpay from $285.00 to $320.00 and gave the company an “equal weight” rating in a research note on Monday, October 21st. Keefe, Bruyette & Woods dropped their price objective on Corpay from $425.00 to $415.00 and set an “outperform” rating on the stock in a research note on Monday. Citigroup lifted their price target on Corpay from $405.00 to $430.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. BMO Capital Markets boosted their target price on shares of Corpay from $400.00 to $440.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Finally, Morgan Stanley increased their price target on shares of Corpay from $325.00 to $350.00 and gave the company an “equal weight” rating in a report on Monday, November 11th. Four research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Corpay currently has an average rating of “Moderate Buy” and a consensus target price of $368.57.

Corpay 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.