Allianz Asset Management Reduces $55M in Corpay, Inc. ($CPAY)
Key Points
- Allianz Asset Management changed its Corpay, Inc. ($CPAY) stake by 24.5% last quarter, cutting to 481,323 shares worth $168.87 million.
- Wall Street's consensus rating on $CPAY is Buy and an average price target of $395.14.
- $CPAY last traded around $350.85.
Allianz Asset Management reduced its position in Corpay, Inc. ($CPAY) by 24.5% during the most recent quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 481,323 shares of Corpay, Inc. after selling 156,123 shares during the quarter. Allianz Asset Management's holdings in Corpay, Inc. were worth $168.87 million as of its most recent filing.
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About Corpay, Inc.
Corpay, Inc. operates as a payments company that helps businesses and consumers to manage and pay their expenses. It operates through Corporate Payments, Vehicle Payments, Lodging Payments, and Other segments. The company offers vehicle payment solutions for fuel, tolls and parking, vehicle compliance, auto insurance and road assistance, fleet maintenance, and long-haul transportation services, as well as prepaid food and transportation vouchers and cards. It also provides corporate payment solutions, such as cross-border payments, spend management solutions, AP modernization, virtual cards, and purchasing and T&E cards. Additionally, it offers lodging payments solutions for employees who travel overnight for work purposes; traveling crews and stranded passengers from airlines and cruise lines; workforce lodging solutions for business travel programs; airline logistics, crew management, insurance, and other payments solutions. Further, the company offers gifts and payroll cards. It serves business, merchant, consumer, and payment network customers. The company was formerly known as FLEETCOR Technologies, Inc. and changed its name to Corpay, Inc. in June 2002. Corpay, Inc. was founded in 1986 and is headquartered in Atlanta, Georgia.
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