SG Americas Securities LLC raised its stake in Corpay, Inc (NYSE:CPAY - Free Report) by 211.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 75,549 shares of the corporate payments company's stock after purchasing an additional 51,273 shares during the quarter. SG Americas Securities LLC owned about 0.11% of Corpay worth $21,984,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Orbis Allan Gray Ltd boosted its position in shares of Corpay by 20.8% in the fourth quarter. Orbis Allan Gray Ltd now owns 4,987,968 shares of the corporate payments company's stock worth $1,501,029,000 after buying an additional 859,854 shares during the period. JPMorgan Chase & Co. lifted its position in Corpay by 6.9% during the 4th quarter. JPMorgan Chase & Co. now owns 4,734,927 shares of the corporate payments company's stock worth $1,424,882,000 after acquiring an additional 307,355 shares in the last quarter. State Street Corp lifted its position in Corpay by 0.8% during the 3rd quarter. State Street Corp now owns 2,956,744 shares of the corporate payments company's stock worth $851,720,000 after acquiring an additional 23,470 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Corpay by 1.0% in the 4th quarter. Geode Capital Management LLC now owns 1,905,526 shares of the corporate payments company's stock worth $571,346,000 after acquiring an additional 19,281 shares during the period. Finally, Invesco Ltd. grew its position in Corpay by 0.5% in the fourth quarter. Invesco Ltd. now owns 1,751,048 shares of the corporate payments company's stock valued at $526,943,000 after acquiring an additional 8,783 shares in the last quarter. Institutional investors and hedge funds own 98.84% of the company's stock.
Insiders Place Their Bets
In other news, Director Steven T. Stull sold 1,000 shares of the business's stock in a transaction dated 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 approximately $10,188,787.98. The trade was a 3.42% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Armando Lins Netto sold 70,476 shares of the company's stock in a transaction dated 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 completion of the sale, the insider owned 11,274 shares in the company, valued at approximately $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 have sold a total of 88,677 shares of company stock worth $31,304,091 over the last quarter. 5.19% of the stock is currently owned by insiders.
Wall Street Analysts Forecast Growth
A number of analysts have recently issued reports on CPAY shares. Weiss Ratings upgraded shares of Corpay from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Monday, April 27th. Robert W. Baird decreased their target price on shares of Corpay from $440.00 to $380.00 and set an "outperform" rating for the company in a research note on Tuesday, March 31st. Wall Street Zen raised shares of Corpay from a "hold" rating to a "buy" rating in a report on Monday, March 23rd. Morgan Stanley reaffirmed an "overweight" rating and set a $400.00 price target on shares of Corpay in a research note on Sunday, May 10th. Finally, Oppenheimer reiterated an "outperform" rating and issued a $388.00 price objective on shares of Corpay in a report on Friday, May 8th. Thirteen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $383.07.
Check Out Our Latest Stock Report on CPAY
Corpay Stock Performance
Shares of CPAY opened at $344.98 on Thursday. The business's 50 day moving average is $339.93 and its two-hundred day moving average is $324.57. Corpay, Inc has a 52-week low of $252.84 and a 52-week high of $367.43. The firm has a market cap of $22.55 billion, a price-to-earnings ratio of 20.64, a PEG ratio of 0.93 and a beta of 0.86. 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 released its quarterly earnings results on Thursday, May 14th. The corporate payments company reported ($0.01) earnings per share for the quarter. The company had revenue of $5.63 million for the quarter. Corpay had a return on equity of 38.68% and a net margin of 24.60%. Analysts forecast that Corpay, Inc will post 25.49 EPS for the current fiscal year.
Corpay Profile
(
Free Report)
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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