Corpay, Inc $CPAY Stock Sold by Mawer Investment Management Ltd.

Key Points

• Mawer Investment Management cut its Corpay stake by 12.5% in the third quarter, selling 46,125 shares, but retained 321,632 shares valued at about $125 million.
• Corpay beat quarterly earnings and revenue expectations, reporting EPS of $7.54 and revenue of $1.38 billion; revenue increased 17.9% year over year.
• Analysts maintain a “Moderate Buy” consensus, with an average price target of $474.38; 11 analysts rate the stock Buy and three rate it Hold.

Mawer Investment Management Ltd. decreased its position in shares of Corpay, Inc (NYSE:CPAY - Free Report) by 12.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 321,632 shares of the corporate payments company's stock after selling 46,125 shares during the period. Corpay accounts for approximately 0.9% of Mawer Investment Management Ltd.'s portfolio, making the stock its 27th biggest position. Mawer Investment Management Ltd. owned about 0.49% of Corpay worth $124,986,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CPAY. Condor Capital Management grew its stake in shares of Corpay by 82.8% in the 3rd quarter. Condor Capital Management now owns 8,870 shares of the corporate payments company's stock valued at $3,447,000 after buying an additional 4,017 shares in the last quarter. Aberdeen Group plc increased its holdings in Corpay by 281.4% in the third quarter. Aberdeen Group plc now owns 179,080 shares of the corporate payments company's stock worth $69,590,000 after buying an additional 132,131 shares during the last quarter. Allworth Financial LP increased its holdings in Corpay by 87.7% in the third quarter. Allworth Financial LP now owns 1,990 shares of the corporate payments company's stock worth $724,000 after buying an additional 930 shares during the last quarter. Russell Investments Group Ltd. raised its position in Corpay by 25.2% during the third quarter. Russell Investments Group Ltd. now owns 148,637 shares of the corporate payments company's stock valued at $56,916,000 after acquiring an additional 29,964 shares in the last quarter. Finally, Eurizon Capital SGR S.p.A. raised its position in Corpay by 651.6% during the third quarter. Eurizon Capital SGR S.p.A. now owns 30,770 shares of the corporate payments company's stock valued at $11,072,000 after acquiring an additional 26,676 shares in the last quarter. Hedge funds and other institutional investors own 98.84% of the company's stock.

Corpay Stock Performance

Shares of NYSE:CPAY traded up $6.16 during trading on Friday, reaching $462.17. The stock had a trading volume of 310,288 shares, compared to its average volume of 519,266. Corpay, Inc has a 52 week low of $271.22 and a 52 week high of $479.53. The firm has a market capitalization of $29.56 billion, a price-to-earnings ratio of 25.42, a P/E/G ratio of 0.94 and a beta of 0.94. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 1.82. The stock has a fifty day simple moving average of $409.88 and a two-hundred day simple moving average of $363.03.

Corpay (NYSE:CPAY - Get Free Report) last issued its quarterly earnings data on Wednesday, November 4th. The corporate payments company reported $7.54 earnings per share for the quarter, topping analysts' consensus estimates of $7.20 by $0.34. The business had revenue of $1.38 billion during the quarter, compared to analysts' expectations of $1.36 billion. Corpay had a net margin of 23.73% and a return on equity of 46.94%. Corpay's revenue for the quarter was up 17.9% on a year-over-year basis. During the same period in the previous year, the company earned $5.70 earnings per share. As a group, analysts anticipate that Corpay, Inc will post 26.52 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on CPAY shares. Oppenheimer lifted their target price on shares of Corpay from $454.00 to $461.00 and gave the company an "outperform" rating in a research note on Thursday, November 5th. Robert W. Baird set a $475.00 price target on shares of Corpay in a research note on Thursday, August 6th. Morgan Stanley raised their price target on shares of Corpay from $455.00 to $460.00 and gave the company an "overweight" rating in a report on Wednesday, October 28th. JPMorgan Chase & Co. raised their price target on shares of Corpay from $470.00 to $500.00 and gave the company an "overweight" rating in a report on Thursday, November 5th. Finally, UBS Group lifted their price objective on shares of Corpay from $415.00 to $465.00 and gave the company a "neutral" rating in a research note on Thursday, November 5th. Eleven equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Corpay presently has an average rating of "Moderate Buy" and a consensus target price of $474.38.

Insider Buying and Selling at Corpay

In other Corpay news, Director Steven T. Stull sold 4,000 shares of the business's stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $410.66, for a total transaction of $1,642,640.00. Following the completion of the transaction, the director owned 23,598 shares of the company's stock, valued at $9,690,754.68. The trade was a 14.49% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Ronald Clarke sold 119,486 shares of the company's 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 $970,925,692. This trade represents a 4.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 220,860 shares of company stock worth $91,395,514 in the last quarter. Insiders own 5.19% of the company's stock.

Corpay Profile

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.

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