D.A. Davidson & CO. Grows Stake in Corpay, Inc $CPAY

Key Points

• D.A. Davidson & Co. boosted its Corpay stake by 19.1% in the first quarter, buying 4,768 additional shares and bringing its total to 29,758 shares worth about $8.66 million.
• Several other institutional investors also increased positions, and overall institutional ownership stands at 98.84% of Corpay’s shares.
• Insider selling picked up recently, with executives and directors selling 88,677 shares worth about $31.3 million over the last 90 days, while analysts remain broadly positive with a Moderate Buy rating and average price target of $382.54.

D.A. Davidson & CO. increased its holdings in Corpay, Inc (NYSE:CPAY - Free Report) by 19.1% in the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 29,758 shares of the corporate payments company's stock after buying an additional 4,768 shares during the quarter. D.A. Davidson & CO.'s holdings in Corpay were worth $8,659,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Sanctuary Advisors LLC grew its position in Corpay by 43.3% during the first quarter. Sanctuary Advisors LLC now owns 2,123 shares of the corporate payments company's stock valued at $618,000 after buying an additional 641 shares during the period. Checchi Capital Advisers LLC bought a new position in shares of Corpay in the first quarter worth about $226,000. Principal Financial Group Inc. grew its position in shares of Corpay by 3.2% during the first quarter. Principal Financial Group Inc. now owns 81,142 shares of the corporate payments company's stock worth $23,612,000 after purchasing an additional 2,491 shares in the last quarter. Chicago Partners Investment Group LLC grew its position in shares of Corpay by 14.2% during the first quarter. Chicago Partners Investment Group LLC now owns 1,393 shares of the corporate payments company's stock worth $405,000 after purchasing an additional 173 shares in the last quarter. Finally, Procyon Advisors LLC grew its stake in Corpay by 78.0% during the first quarter. Procyon Advisors LLC now owns 6,357 shares of the corporate payments company's stock valued at $1,850,000 after acquiring an additional 2,786 shares in the last quarter. Institutional investors own 98.84% of the company's stock.

Insider Activity at Corpay

In related news, insider Armando Lins Netto sold 70,476 shares of Corpay stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $352.13, for a total value of $24,816,713.88. Following the transaction, the insider owned 11,274 shares of the company's stock, valued at approximately $3,969,913.62. This trade represents a 86.21% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Steven T. Stull sold 1,000 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $360.78, for a total transaction 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 SEC filing for this sale provides additional information. Insiders have sold a total of 88,677 shares of company stock worth $31,304,091 over the last 90 days. 5.19% of the stock is owned by company insiders.

Corpay Price Performance

CPAY stock opened at $365.94 on Friday. The firm has a market capitalization of $23.92 billion, a P/E ratio of 21.90, a P/E/G ratio of 1.02 and a beta of 0.88. The business's 50-day moving average is $349.20 and its two-hundred day moving average is $332.02. The company has a debt-to-equity ratio of 1.86, a current ratio of 0.98 and a quick ratio of 0.98. Corpay, Inc has a 1 year low of $252.84 and a 1 year high of $374.09.

Corpay (NYSE:CPAY - Get Free Report) last issued its quarterly earnings data on Thursday, May 14th. The corporate payments company reported ($0.01) earnings per share (EPS) for the quarter. The business 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 anticipate that Corpay, Inc will post 25.49 earnings per share for the current fiscal year.

Analysts Set New Price Targets

CPAY has been the subject of several analyst reports. Oppenheimer reaffirmed an "outperform" rating and issued a $388.00 price objective on shares of Corpay in a research note on Friday, May 8th. Loop Capital started coverage on Corpay in a report on Monday, May 18th. They issued a "buy" rating and a $406.00 price target on the stock. Morgan Stanley restated an "overweight" rating and set a $400.00 price objective on shares of Corpay in a report on Sunday, May 10th. Robert W. Baird reduced their target price on Corpay from $440.00 to $380.00 and set an "outperform" rating on the stock in a research note on Tuesday, March 31st. Finally, Wolfe Research restated an "outperform" rating and issued a $450.00 price target on shares of Corpay in a report on Wednesday, June 3rd. Twelve equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $382.54.

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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