Corpay, Inc $CPAY Shares Sold by Sumitomo Mitsui Trust Group Inc.

Key Points

• Sumitomo Mitsui Trust Group cut its Corpay stake by 3.7% in the third quarter, selling 5,361 shares; it retained 139,411 shares worth about $54.2 million. Institutional investors own 98.84% of the stock.
• Corpay reported quarterly EPS of $7.00, beating the $6.58 consensus, while revenue of $1.34 billion exceeded estimates and rose 21.5% year over year.
• Analysts’ consensus rating is “Moderate Buy,” with an average price target of $450. The shares opened at $406.37 and had a 12-month range of $256.38 to $427.46.

Sumitomo Mitsui Trust Group Inc. reduced its holdings in shares of Corpay, Inc (NYSE:CPAY - Free Report) by 3.7% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 139,411 shares of the corporate payments company's stock after selling 5,361 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.21% of Corpay worth $54,175,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in CPAY. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Corpay during the 3rd quarter worth approximately $6,461,000. Aviance Capital Partners LLC boosted its holdings in shares of Corpay by 2.2% in the 3rd quarter. Aviance Capital Partners LLC now owns 15,171 shares of the corporate payments company's stock valued at $5,895,000 after buying an additional 321 shares during the last quarter. Profund Advisors LLC acquired a new stake in shares of Corpay in the 3rd quarter valued at approximately $238,000. ProShare Advisors LLC boosted its holdings in shares of Corpay by 3.0% in the 3rd quarter. ProShare Advisors LLC now owns 14,862 shares of the corporate payments company's stock valued at $5,775,000 after buying an additional 433 shares during the last quarter. Finally, MGO One Seven LLC bought a new position in shares of Corpay in the third quarter valued at $868,000. 98.84% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on CPAY. Wall Street Zen downgraded shares of Corpay from a "buy" rating to a "hold" rating in a report on Saturday, October 24th. Raymond James Financial reaffirmed an "outperform" rating and set a $442.00 price target on shares of Corpay in a research report on Thursday, August 6th. Weiss Ratings upgraded shares of Corpay from a "buy (b-)" rating to a "buy (b)" rating in a research note on Thursday, October 8th. Keefe, Bruyette & Woods lifted their price objective on shares of Corpay from $400.00 to $470.00 and gave the company an "outperform" rating in a research report on Thursday, August 6th. Finally, Cantor Fitzgerald boosted their price objective on shares of Corpay from $415.00 to $480.00 and gave the stock an "overweight" rating in a research note on Monday, August 10th. Eleven research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, Corpay has a consensus rating of "Moderate Buy" and an average price target of $450.00.

Corpay Price Performance

Shares of Corpay stock opened at $406.37 on Wednesday. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.70. The stock has a market capitalization of $26.68 billion, a price-to-earnings ratio of 24.73, a price-to-earnings-growth ratio of 1.12 and a beta of 0.94. Corpay, Inc has a twelve month low of $256.38 and a twelve month high of $427.46. The company has a 50-day simple moving average of $403.08 and a two-hundred day simple moving average of $358.71.

Corpay (NYSE:CPAY - Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The corporate payments company reported $7.00 EPS for the quarter, beating analysts' consensus estimates of $6.58 by $0.42. The business had revenue of $1.34 billion during 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%. Corpay's revenue for the quarter was up 21.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $5.13 earnings per share. Analysts forecast that Corpay, Inc will post 25.81 EPS for the current year.

Insider Buying and Selling at Corpay

In other Corpay news, Director Steven Stull sold 2,357 shares of the business's stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $413.62, for a total transaction of $974,902.34. Following the completion of the transaction, the director owned 21,241 shares of the company's stock, valued at approximately $8,785,702.42. The trade was a 9.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ronald Clarke sold 119,486 shares of the company's stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $412.40, for a total transaction of $49,276,026.40. Following the transaction, the chief executive officer owned 2,354,330 shares of the company's stock, valued at approximately $970,925,692. This represents a 4.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 220,860 shares of company stock valued at $91,395,514. 5.19% of the stock is owned by corporate 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.