Generate Investment Management Ltd Sells 40,000 Shares of Corpay, Inc $CPAY

Key Points

• Generate Investment Management Ltd reduced its Corpay position by 33.3% in the first quarter, selling 40,000 shares and leaving it with 80,000 shares worth about $23.3 million.
• Analysts remain largely positive on Corpay, with 13 Buy ratings and 3 Hold ratings; the consensus view is “Moderate Buy” and the average target price is $383.07.
• Corpay shares were trading around $348.06, near their 52-week high of $367.43, after the company reported a slight quarterly loss of $0.01 per share in its latest earnings release.

Generate Investment Management Ltd cut its stake in shares of Corpay, Inc (NYSE:CPAY - Free Report) by 33.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 80,000 shares of the corporate payments company's stock after selling 40,000 shares during the period. Corpay comprises approximately 1.1% of Generate Investment Management Ltd's holdings, making the stock its 22nd largest position. Generate Investment Management Ltd owned approximately 0.12% of Corpay worth $23,279,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. MV Capital Management Inc. purchased a new position in shares of Corpay in the 4th quarter worth $25,000. Leonteq Securities AG purchased a new stake in Corpay during the fourth quarter valued at $27,000. BOKF NA increased its position in Corpay by 4,700.0% during the third quarter. BOKF NA now owns 96 shares of the corporate payments company's stock valued at $28,000 after acquiring an additional 94 shares during the last quarter. Torren Management LLC bought a new position in Corpay in the fourth quarter valued at about $29,000. Finally, DV Equities LLC bought a new position in Corpay in the fourth quarter valued at about $30,000. 98.84% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have issued reports on CPAY. Oppenheimer restated an "outperform" rating and set a $388.00 price target on shares of Corpay in a research note on Friday, May 8th. Robert W. Baird lowered their price objective on shares of Corpay from $440.00 to $380.00 and set an "outperform" rating on the stock in a research note on Tuesday, March 31st. Raymond James Financial reissued an "outperform" rating and issued a $361.00 price objective on shares of Corpay in a report on Thursday, March 5th. Wall Street Zen raised shares of Corpay from a "hold" rating to a "buy" rating in a report on Monday, March 23rd. Finally, Loop Capital initiated coverage on shares of Corpay in a report on Monday, May 18th. They set a "buy" rating and a $406.00 target price for the company. Thirteen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, Corpay presently has a consensus rating of "Moderate Buy" and a consensus target price of $383.07.

Corpay Trading Up 0.3%

Corpay stock opened at $348.06 on Tuesday. Corpay, Inc has a 12-month low of $252.84 and a 12-month high of $367.43. The firm has a market capitalization of $22.75 billion, a price-to-earnings ratio of 20.83, a P/E/G ratio of 0.95 and a beta of 0.86. The firm has a 50 day moving average of $338.37 and a 200 day moving average of $323.79. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 1.86.

Corpay (NYSE:CPAY - Get Free Report) last issued its quarterly earnings results on Thursday, May 14th. The corporate payments company reported ($0.01) earnings per share for the quarter. The firm had revenue of $5.63 million for the quarter. Corpay had a net margin of 24.60% and a return on equity of 38.68%. As a group, research analysts predict that Corpay, Inc will post 25.49 earnings per share for the current year.

Insider Buying and Selling at Corpay

In related news, Director Steven T. Stull sold 1,000 shares of the company's stock in a transaction on 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 transaction, the director owned 28,241 shares of the company's stock, valued at approximately $10,188,787.98. This represents a 3.42% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Armando Lins Netto sold 70,476 shares of the stock in a transaction on 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 completion of the sale, the insider owned 11,274 shares of the company's stock, valued at $3,969,913.62. The trade was a 86.21% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 88,677 shares of company stock worth $31,304,091 over the last 90 days. Insiders own 5.19% of the company's stock.

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.

Want to see what other hedge funds are holding CPAY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Corpay, Inc (NYSE:CPAY - Free Report).

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.