Scotiabank Initiates Coverage on Corpay (NYSE:CPAY)

Key Points

• Scotiabank initiated coverage of Corpay with a “sector outperform” rating. Corpay has a consensus “Moderate Buy” rating from 15 analysts and an average price target of $431.46.
• Corpay reported quarterly adjusted earnings of $7.00 per share, beating estimates of $6.58, while revenue rose 21.5% year over year to $1.34 billion. The company issued third-quarter and full-year 2026 earnings guidance.
• Corpay shares opened at $404.84, near their 52-week high of $425.95. Insiders sold $116.2 million of stock over the last quarter, while institutional investors and hedge funds own 98.84% of outstanding shares.

Analysts at Scotiabank started coverage on shares of Corpay (NYSE:CPAY - Get Free Report) in a note issued to investors on Wednesday, Marketbeat reports. The brokerage set a "sector outperform" rating on the corporate payments company's stock.

A number of other brokerages have also recently weighed in on CPAY. UBS Group increased their price target on Corpay from $385.00 to $415.00 and gave the stock a "neutral" rating in a research report on Thursday, August 6th. Cantor Fitzgerald boosted their price objective on Corpay from $415.00 to $480.00 and gave the company an "overweight" rating in a research report on Monday, August 10th. Royal Bank Of Canada upped their price objective on Corpay from $423.00 to $438.00 and gave the stock a "sector perform" rating in a research note on Monday. Wolfe Research increased their target price on Corpay from $475.00 to $530.00 and gave the stock an "outperform" rating in a research report on Tuesday, August 25th. Finally, Morgan Stanley set a $455.00 target price on Corpay in a research note on Friday, August 7th. Twelve investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $431.46.

Corpay Trading Up 0.1%

Corpay stock opened at $404.84 on Wednesday. Corpay has a 1 year low of $252.84 and a 1 year high of $425.95. The firm's 50-day moving average is $382.38 and its 200-day moving average is $347.31. The company has a debt-to-equity ratio of 1.70, a quick ratio of 0.97 and a current ratio of 0.97. The company has a market cap of $26.58 billion, a P/E ratio of 24.64, a PEG ratio of 1.11 and a beta of 0.87.

Corpay (NYSE:CPAY - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The corporate payments company reported $7.00 earnings per share for the quarter, topping the consensus estimate of $6.58 by $0.42. Corpay had a net margin of 22.72% and a return on equity of 42.18%. The firm had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.30 billion. During the same quarter in the prior year, the business earned $5.13 earnings per share. Corpay's quarterly revenue was up 21.5% on a year-over-year basis. Corpay has set its Q3 2026 guidance at 7.050-7.250 EPS and its FY 2026 guidance at 27.150-27.550 EPS. On average, equities analysts expect that Corpay will post 25.75 earnings per share for the current year.

Insider Transactions at Corpay

In related news, Director Steven T. Stull sold 4,000 shares of Corpay stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $410.66, for a total transaction of $1,642,640.00. Following the sale, the director directly owned 23,598 shares in the company, valued at $9,690,754.68. The trade was a 14.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Ronald Clarke sold 119,486 shares of the company's stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $412.40, for a total transaction of $49,276,026.40. Following the completion of the sale, the chief executive officer directly owned 2,354,330 shares of the company's stock, valued at $970,925,692. The trade was a 4.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 291,336 shares of company stock valued at $116,212,228. 5.19% of the stock is currently owned by corporate insiders.

Institutional Trading of Corpay

A number of institutional investors have recently made changes to their positions in CPAY. VELA Investment Management LLC boosted its holdings in shares of Corpay by 0.5% in the second quarter. VELA Investment Management LLC now owns 5,368 shares of the corporate payments company's stock valued at $1,789,000 after acquiring an additional 25 shares in the last quarter. California State Teachers Retirement System raised its holdings in Corpay by 36,046.6% during the second quarter. California State Teachers Retirement System now owns 30,244,919 shares of the corporate payments company's stock worth $10,079,724,000 after purchasing an additional 30,161,246 shares in the last quarter. Paralel Advisors LLC lifted its position in Corpay by 3.5% in the second quarter. Paralel Advisors LLC now owns 7,939 shares of the corporate payments company's stock worth $2,646,000 after purchasing an additional 268 shares during the period. Wedmont Private Capital lifted its position in Corpay by 10.4% in the second quarter. Wedmont Private Capital now owns 1,289 shares of the corporate payments company's stock worth $456,000 after purchasing an additional 121 shares during the period. Finally, HB Wealth Management LLC lifted its position in Corpay by 20.5% in the second quarter. HB Wealth Management LLC now owns 2,378 shares of the corporate payments company's stock worth $793,000 after purchasing an additional 405 shares during the period. 98.84% of the stock is owned by institutional investors and hedge funds.

Corpay Company Profile

Corpay is a global corporate payments company that provides businesses with a range of payment and expense management solutions. Its services are designed to help organizations manage payables, card programs, travel and fleet-related expenses, and cross-border transactions more efficiently.

The company serves customers across a variety of industries and geographies, offering software and payment tools that streamline accounts payable, vendor payments, and workforce payments. Corpay also provides specialized solutions for fleet management and international payments, helping businesses control costs and simplify financial operations.

Corpay operates as part of the broader financial technology and payment processing sector.

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