Corpay, Inc $CPAY Stock: Provident Investment Management Inc. Trims Position

Key Points

• Provident Investment Management cut its Corpay stake by 33.1% in the third quarter, selling 56,031 shares and retaining 113,237 shares valued at approximately $44 million. Institutional investors collectively own 98.84% of Corpay.
• Corpay shares opened at $408.95, near their 12-month high of $427.46. The company recently exceeded quarterly earnings and revenue estimates, reporting $7.00 EPS and $1.34 billion in revenue, with revenue up 21.5% year over year.
• Analysts maintain a favorable outlook, with a consensus “Moderate Buy” rating and an average price target of $438.93. Meanwhile, company insiders have sold 220,860 shares worth about $91.4 million over the past 90 days.

Provident Investment Management Inc. lowered its holdings in Corpay, Inc (NYSE:CPAY - Free Report) by 33.1% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 113,237 shares of the corporate payments company's stock after selling 56,031 shares during the quarter. Corpay accounts for 4.4% of Provident Investment Management Inc.'s holdings, making the stock its 8th largest holding. Provident Investment Management Inc. owned 0.17% of Corpay worth $44,004,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. Spruce House Investment Management LLC increased its position in shares of Corpay by 6.0% during the 1st quarter. Spruce House Investment Management LLC now owns 880,000 shares of the corporate payments company's stock worth $256,071,000 after purchasing an additional 50,000 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Corpay by 3.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 782,500 shares of the corporate payments company's stock valued at $227,695,000 after buying an additional 23,646 shares during the period. Hawk Ridge Capital Management LP lifted its position in Corpay by 20.5% in the first quarter. Hawk Ridge Capital Management LP now owns 532,180 shares of the corporate payments company's stock valued at $154,859,000 after buying an additional 90,360 shares during the last quarter. Bank of New York Mellon Corp acquired a new position in Corpay in the second quarter valued at about $107,805,000. Finally, Bank of America Corp DE lifted its position in Corpay by 0.6% in the first quarter. Bank of America Corp DE now owns 364,102 shares of the corporate payments company's stock valued at $105,950,000 after buying an additional 2,131 shares during the last quarter. Institutional investors and hedge funds own 98.84% of the company's stock.

Corpay Trading Up 0.1%

Shares of NYSE CPAY opened at $408.95 on Monday. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.70. The stock has a market capitalization of $26.85 billion, a PE ratio of 24.89, a PEG ratio of 1.12 and a beta of 0.89. Corpay, Inc has a twelve month low of $252.84 and a twelve month high of $427.46. The stock has a fifty day simple moving average of $404.60 and a 200-day simple moving average of $372.84.

Corpay (NYSE:CPAY - Get Free Report) last posted its earnings results on Wednesday, August 5th. The corporate payments company reported $7.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.58 by $0.42. Corpay had a return on equity of 42.18% and a net margin of 22.72%. The firm had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.30 billion. During the same quarter in the prior year, the company earned $5.13 EPS. Corpay's revenue was up 21.5% on a year-over-year basis. 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 forecast that Corpay, Inc will post 25.79 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CPAY. Keefe, Bruyette & Woods lifted their price target 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. Morgan Stanley set a $455.00 price target on shares of Corpay in a research note on Friday, August 7th. Weiss Ratings upgraded shares of Corpay from a "buy (b-)" rating to a "buy (b)" rating in a report on Thursday, October 8th. UBS Group increased their price objective on shares of Corpay from $385.00 to $415.00 and gave the stock a "neutral" rating in a research report on Thursday, August 6th. Finally, Scotiabank initiated coverage on shares of Corpay in a research report on Wednesday, September 2nd. They set an "outperform" rating and a $536.00 price objective for the company. Twelve research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, Corpay presently has a consensus rating of "Moderate Buy" and an average price target of $438.93.

Insider Activity

In other news, CEO Ronald Clarke sold 119,486 shares of the stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $412.40, for a total transaction of $49,276,026.40. Following the sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Steven T. Stull sold 4,000 shares of the stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $410.66, for a total transaction of $1,642,640.00. Following the sale, the director directly owned 23,598 shares in the company, valued at $9,690,754.68. This represents a 14.49% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 220,860 shares of company stock valued at $91,395,514. 5.19% of the stock is currently 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.

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