Assenagon Asset Management S.A. Has $2.63 Million Stake in Corpay, Inc $CPAY

Key Points

• Assenagon Asset Management slashed its Corpay stake by 92.5% in the first quarter, ending with 9,046 shares worth about $2.63 million.
• Corpay reported a small loss of $0.01 per share in its latest quarterly earnings, while analysts still expect full-year earnings of 25.49 per share.
• Wall Street remains upbeat on the stock, with 13 Buy ratings and an average price target of $383.07, even as insiders have sold shares recently.

Assenagon Asset Management S.A. reduced its stake in shares of Corpay, Inc (NYSE:CPAY - Free Report) by 92.5% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 9,046 shares of the corporate payments company's stock after selling 110,997 shares during the period. Assenagon Asset Management S.A.'s holdings in Corpay were worth $2,632,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. CENTRAL TRUST Co raised its holdings in Corpay by 194.8% during the 1st quarter. CENTRAL TRUST Co now owns 227 shares of the corporate payments company's stock worth $66,000 after purchasing an additional 150 shares during the last quarter. SG Americas Securities LLC raised its stake in Corpay by 211.2% during the first quarter. SG Americas Securities LLC now owns 75,549 shares of the corporate payments company's stock worth $21,984,000 after buying an additional 51,273 shares during the last quarter. Evolve Private Wealth LLC raised its stake in Corpay by 38.6% during the first quarter. Evolve Private Wealth LLC now owns 1,306 shares of the corporate payments company's stock worth $380,000 after buying an additional 364 shares during the last quarter. E. Ohman J or Asset Management AB lifted its holdings in Corpay by 174.7% in the first quarter. E. Ohman J or Asset Management AB now owns 1,882 shares of the corporate payments company's stock valued at $548,000 after buying an additional 1,197 shares during the period. Finally, BI Asset Management Fondsmaeglerselskab A S lifted its holdings in Corpay by 52.8% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 6,030 shares of the corporate payments company's stock valued at $1,755,000 after buying an additional 2,084 shares during the period. 98.84% of the stock is owned by institutional investors and hedge funds.

Corpay Price Performance

Shares of NYSE CPAY opened at $333.13 on Wednesday. The stock has a market cap of $21.77 billion, a price-to-earnings ratio of 19.94, a PEG ratio of 0.92 and a beta of 0.86. Corpay, Inc has a fifty-two week low of $252.84 and a fifty-two week high of $367.43. The firm's 50-day simple moving average is $341.42 and its 200 day simple moving average is $326.05. 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 (NYSE:CPAY - Get Free Report) last posted its earnings results on Thursday, May 14th. The corporate payments company reported ($0.01) earnings per share for the quarter. Corpay had a net margin of 24.60% and a return on equity of 38.68%. The company had revenue of $5.63 million during the quarter. As a group, research analysts anticipate that Corpay, Inc will post 25.49 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

CPAY has been the topic of a number of research analyst reports. Oppenheimer reaffirmed an "outperform" rating and set a $388.00 price target on shares of Corpay in a research report on Friday, May 8th. Weiss Ratings raised Corpay from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Monday, April 27th. Raymond James Financial reiterated an "outperform" rating and issued a $361.00 target price on shares of Corpay in a report on Thursday, March 5th. Morgan Stanley reiterated an "overweight" rating and issued a $400.00 price objective on shares of Corpay in a research note on Sunday, May 10th. Finally, Robert W. Baird dropped their target price on shares of Corpay from $440.00 to $380.00 and set an "outperform" rating on the stock in a research report on Tuesday, March 31st. Thirteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat.com, Corpay currently has an average rating of "Moderate Buy" and an average price target of $383.07.

Insider Activity

In related news, 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 transaction, the insider directly owned 11,274 shares in the company, valued at $3,969,913.62. This trade represents a 86.21% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Steven T. Stull sold 1,000 shares of the business's 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 owned 28,241 shares of the company's stock, valued at $10,188,787.98. The trade was a 3.42% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 88,677 shares of company stock valued at $31,304,091 over the last 90 days. 5.19% of the stock is currently owned by company insiders.

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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