Assenagon Asset Management S.A. Buys 27,451 Shares of Corpay, Inc $CPAY

Key Points

• Assenagon Asset Management increased its Corpay stake by 303.5% in the second quarter, acquiring 27,451 additional shares and bringing its holdings to 36,497 shares worth approximately $12.2 million.
• Analysts remain broadly positive, with 12 Buy ratings and three Holds; Corpay has a “Moderate Buy” consensus rating and an average price target of $426.08, while several firms recently raised their targets to as high as $470.
• Corpay exceeded quarterly expectations, reporting $7.00 in adjusted EPS and $1.34 billion in revenue, up 21.5% year over year. However, insiders sold 88,677 shares worth about $31.3 million over the past 90 days.

Assenagon Asset Management S.A. lifted its stake in Corpay, Inc (NYSE:CPAY - Free Report) by 303.5% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 36,497 shares of the corporate payments company's stock after acquiring an additional 27,451 shares during the quarter. Assenagon Asset Management S.A. owned 0.06% of Corpay worth $12,163,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the stock. Integrated Wealth Concepts LLC purchased a new stake in Corpay during the first quarter valued at $207,000. Woodline Partners LP boosted its holdings in shares of Corpay by 39.3% in the first quarter. Woodline Partners LP now owns 5,890 shares of the corporate payments company's stock worth $2,054,000 after buying an additional 1,661 shares during the last quarter. Intech Investment Management LLC increased its holdings in Corpay by 30.4% during the first quarter. Intech Investment Management LLC now owns 3,341 shares of the corporate payments company's stock valued at $1,165,000 after buying an additional 778 shares during the last quarter. Marshall Wace LLP raised its holdings in Corpay by 128.6% in the 2nd quarter. Marshall Wace LLP now owns 1,600 shares of the corporate payments company's stock worth $531,000 after purchasing an additional 900 shares during the period. Finally, Brown Advisory Inc. lifted its position in Corpay by 16.0% during the second quarter. Brown Advisory Inc. now owns 1,670 shares of the corporate payments company's stock valued at $554,000 after purchasing an additional 230 shares in the last quarter. 98.84% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Corpay

In related news, Director Steven T. Stull sold 1,000 shares of Corpay 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 completion of the sale, the director directly owned 28,241 shares in the company, valued at $10,188,787.98. This trade represents a 3.42% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Armando Lins Netto sold 70,476 shares of the company's stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $352.13, for a total transaction of $24,816,713.88. Following the transaction, the insider owned 11,274 shares in the company, valued at $3,969,913.62. The trade was 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 valued at $31,304,091 over the last ninety days. 5.19% of the stock is currently owned by insiders.

Analyst Ratings Changes

CPAY has been the subject of several analyst reports. Royal Bank Of Canada increased their target price on shares of Corpay from $363.00 to $423.00 and gave the stock a "sector perform" rating in a report on Thursday. Morgan Stanley set a $455.00 price objective on Corpay in a research report on Friday. Keefe, Bruyette & Woods increased their price objective on shares of Corpay from $400.00 to $470.00 and gave the company an "outperform" rating in a report on Thursday, August 6th. JPMorgan Chase & Co. raised their target price on shares of Corpay from $400.00 to $470.00 and gave the company an "overweight" rating in a research note on Thursday, August 6th. Finally, UBS Group lifted their price target on shares of Corpay from $385.00 to $415.00 and gave the company a "neutral" rating in a report on Thursday. Twelve equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $426.08.

Corpay Stock Up 2.0%

NYSE:CPAY opened at $400.88 on Tuesday. The company's 50-day simple moving average is $359.52 and its 200-day simple moving average is $338.81. The stock has a market capitalization of $26.20 billion, a P/E ratio of 24.40, a P/E/G ratio of 1.09 and a beta of 0.87. The company has a debt-to-equity ratio of 1.70, a quick ratio of 0.98 and a current ratio of 0.97. Corpay, Inc has a fifty-two week low of $252.84 and a fifty-two week high of $405.95.

Corpay (NYSE:CPAY - Get Free Report) last announced its earnings results 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. The firm had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.30 billion. Corpay had a return on equity of 42.18% and a net margin of 22.72%.The firm's revenue for the quarter was up 21.5% on a year-over-year basis. During the same period in the previous year, the business earned $5.13 EPS. 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 anticipate that Corpay, Inc will post 25.49 earnings per share for the current fiscal year.

About Corpay

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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