Andra AP fonden Cuts Stock Position in Corpay, Inc $CPAY

Key Points

• Andra AP fonden sharply reduced its Corpay stake by 76.5% in Q1, selling 24,200 shares and leaving it with 7,440 shares worth about $2.17 million.
• Institutional interest in Corpay remains high, with hedge funds and other investors owning 98.84% of the stock and several firms recently adding to or initiating positions.
• Wall Street remains constructive on the company: Corpay has a Moderate Buy consensus rating, with analysts’ average price target at $382.54, while the stock was trading around $364.63.

Andra AP fonden cut its position in Corpay, Inc (NYSE:CPAY - Free Report) by 76.5% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 7,440 shares of the corporate payments company's stock after selling 24,200 shares during the quarter. Andra AP fonden's holdings in Corpay were worth $2,165,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Generate Investment Management Ltd lifted its stake in Corpay by 60.0% in the fourth quarter. Generate Investment Management Ltd now owns 120,000 shares of the corporate payments company's stock valued at $36,112,000 after purchasing an additional 45,000 shares during the last quarter. Pensionfund Sabic purchased a new stake in Corpay in the fourth quarter worth $1,113,000. Louisiana State Employees Retirement System purchased a new stake in Corpay in the first quarter worth $1,048,000. Moran Wealth Management LLC raised its stake in shares of Corpay by 77.9% in the first quarter. Moran Wealth Management LLC now owns 37,869 shares of the corporate payments company's stock valued at $11,020,000 after buying an additional 16,586 shares during the period. Finally, M&T Bank Corp raised its stake in shares of Corpay by 4,657.7% in the fourth quarter. M&T Bank Corp now owns 1,044,074 shares of the corporate payments company's stock valued at $314,193,000 after buying an additional 1,022,129 shares during the period. 98.84% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Wolfe Research reiterated an "outperform" rating and set a $450.00 price target on shares of Corpay in a research note on Wednesday, June 3rd. Loop Capital began coverage on Corpay in a research note on Monday, May 18th. They issued a "buy" rating and a $406.00 price objective on the stock. Oppenheimer restated an "outperform" rating and issued a $388.00 price objective on shares of Corpay in a research note on Friday, May 8th. Weiss Ratings raised shares of Corpay from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday, April 27th. Finally, Morgan Stanley reiterated an "overweight" rating and set a $400.00 target price on shares of Corpay in a research report on Sunday, May 10th. Twelve equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Corpay currently has a consensus rating of "Moderate Buy" and an average target price of $382.54.

Corpay Trading Up 1.6%

Shares of CPAY opened at $364.63 on Friday. The business's 50-day moving average price is $350.25 and its 200-day moving average price is $333.33. Corpay, Inc has a twelve month low of $252.84 and a twelve month high of $374.09. The stock has a market cap of $23.83 billion, a PE ratio of 21.82, a P/E/G ratio of 0.98 and a beta of 0.88. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 1.86.

Corpay (NYSE:CPAY - Get Free Report) last announced its quarterly earnings results on Thursday, May 14th. The corporate payments company reported ($0.01) earnings per share (EPS) for the quarter. The firm had revenue of $5.63 million during the quarter. Corpay had a return on equity of 38.68% and a net margin of 24.60%. On average, equities analysts forecast that Corpay, Inc will post 25.49 EPS for the current fiscal year.

Insider Activity at Corpay

In other news, Director Steven T. Stull sold 1,000 shares of the company's stock in a transaction 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 owned 28,241 shares of the company's stock, valued at approximately $10,188,787.98. This represents a 3.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Armando Lins Netto sold 70,476 shares of the stock in a transaction on Monday, June 15th. The stock was sold at an average price of $352.13, for a total value of $24,816,713.88. Following the completion of the sale, the insider owned 11,274 shares in the company, valued at $3,969,913.62. This trade represents a 86.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 88,677 shares of company stock worth $31,304,091 over the last quarter. Corporate insiders own 5.19% of the company's stock.

Corpay 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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