Amundi Cuts Stock Holdings in Corpay, Inc $CPAY

Key Points

• Amundi reduced its Corpay stake by 15.1% in the first quarter, selling 34,303 shares and retaining 192,356 shares valued at approximately $56 million. Institutional investors and hedge funds collectively own 98.84% of the company.
• Corpay insiders sold 88,677 shares worth about $31.3 million over the past 90 days, including a director’s 1,000-share sale and an insider’s 70,476-share sale.
• Analyst sentiment remains positive, with 12 Buy ratings and three Holds producing a “Moderate Buy” consensus and an average price target of $383.69. Corpay shares opened at $383.56, near their 52-week high of $395.49.

Amundi lessened its position in Corpay, Inc (NYSE:CPAY - Free Report) by 15.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 192,356 shares of the corporate payments company's stock after selling 34,303 shares during the quarter. Amundi owned about 0.29% of Corpay worth $55,974,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in CPAY. MV Capital Management Inc. purchased a new position in shares of Corpay during the 4th quarter worth $25,000. Leonteq Securities AG purchased a new stake in shares of Corpay in the fourth quarter valued at about $27,000. BOKF NA increased its position in Corpay by 4,700.0% during the third quarter. BOKF NA now owns 96 shares of the corporate payments company's stock worth $28,000 after purchasing an additional 94 shares during the last quarter. Torren Management LLC acquired a new stake in Corpay during the fourth quarter worth about $29,000. Finally, DV Equities LLC acquired a new stake in Corpay during the fourth quarter worth about $30,000. 98.84% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Corpay news, Director Steven T. Stull sold 1,000 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $360.78, for a total value of $360,780.00. Following the transaction, the director directly owned 28,241 shares in the company, valued at $10,188,787.98. This represents a 3.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Armando Lins Netto sold 70,476 shares of the firm's stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $352.13, for a total transaction of $24,816,713.88. Following the sale, the insider directly owned 11,274 shares in the company, valued at approximately $3,969,913.62. The trade was a 86.21% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 88,677 shares of company stock valued at $31,304,091 over the last ninety days. 5.19% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Weiss Ratings restated a "buy (b-)" rating on shares of Corpay in a report on Friday, July 24th. Oppenheimer reiterated an "outperform" rating and issued a $388.00 price objective on shares of Corpay in a report on Friday, May 8th. Loop Capital started coverage on Corpay in a research report on Monday, May 18th. They issued a "buy" rating and a $406.00 price objective for the company. Wolfe Research reissued an "outperform" rating and set a $450.00 target price on shares of Corpay in a research note on Wednesday, June 3rd. Finally, Morgan Stanley raised their target price on Corpay from $400.00 to $415.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 28th. Twelve equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $383.69.

Corpay Stock Up 0.4%

Shares of CPAY opened at $383.56 on Monday. The company has a debt-to-equity ratio of 1.86, a quick ratio of 0.98 and a current ratio of 0.98. Corpay, Inc has a 1 year low of $252.84 and a 1 year high of $395.49. The stock has a market capitalization of $25.07 billion, a PE ratio of 22.95, a P/E/G ratio of 1.04 and a beta of 0.87. The company's 50-day simple moving average is $353.70 and its 200-day simple moving average is $336.68.

Corpay (NYSE:CPAY - Get Free Report) last posted its quarterly earnings results on Thursday, May 14th. The corporate payments company reported ($0.01) EPS for the quarter. Corpay had a return on equity of 38.68% and a net margin of 24.60%.The business had revenue of $5.63 million during the quarter. Analysts forecast that Corpay, Inc will post 25.48 earnings per share for the current fiscal year.

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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