JPMorgan Chase & Co. Purchases 307,355 Shares of Corpay, Inc. $CPAY

Key Points

• JPMorgan Chase increased its stake in Corpay by 6.9% in the fourth quarter, buying 307,355 additional shares and ending with 4.73 million shares worth about $1.42 billion.
• Several other institutional investors also added to or initiated positions in Corpay, and institutions now own 98.84% of the company’s stock.
• Corpay reported strong quarterly results, with EPS of $5.80 beating estimates and revenue rising 25.4% year over year; analysts currently rate the stock Moderate Buy with an average price target of $383.07.

JPMorgan Chase & Co. raised its position in shares of Corpay, Inc. (NYSE:CPAY - Free Report) by 6.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,734,927 shares of the company's stock after acquiring an additional 307,355 shares during the period. JPMorgan Chase & Co. owned approximately 6.77% of Corpay worth $1,424,882,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Corpay by 168,603.9% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,489,655 shares of the company's stock valued at $448,282,000 after purchasing an additional 1,488,772 shares during the period. M&T Bank Corp boosted its stake in shares of Corpay by 4,657.7% during the fourth quarter. M&T Bank Corp now owns 1,044,074 shares of the company's stock valued at $314,193,000 after purchasing an additional 1,022,129 shares during the period. Norges Bank purchased a new stake in shares of Corpay during the fourth quarter valued at $266,190,000. Hawk Ridge Capital Management LP purchased a new stake in shares of Corpay during the third quarter valued at $106,381,000. Finally, Wellington Management Group LLP boosted its stake in shares of Corpay by 54.9% during the third quarter. Wellington Management Group LLP now owns 631,496 shares of the company's stock valued at $181,909,000 after purchasing an additional 223,704 shares during the period. Institutional investors own 98.84% of the company's stock.

Insiders Place Their Bets

In related news, insider Armando Lins Netto sold 2,694 shares of the company's stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $357.01, for a total value of $961,784.94. Following the completion of the sale, the insider directly owned 15,834 shares of the company's stock, valued at $5,652,896.34. This represents a 14.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 17,201 shares of company stock valued at $6,126,597 over the last ninety days. 5.19% of the stock is owned by corporate insiders.

Analyst Ratings Changes

CPAY has been the subject of a number of recent analyst reports. Loop Capital initiated coverage on shares of Corpay in a research note on Monday, May 18th. They set a "buy" rating and a $406.00 target price for the company. Cantor Fitzgerald boosted their target price on shares of Corpay from $385.00 to $415.00 and gave the company an "overweight" rating in a research note on Monday, February 9th. Oppenheimer reissued an "outperform" rating and set a $388.00 target price on shares of Corpay in a research note on Friday, May 8th. UBS Group boosted their target price on shares of Corpay from $315.00 to $380.00 and gave the company a "neutral" rating in a research note on Tuesday, February 10th. Finally, Weiss Ratings raised shares of Corpay from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Monday, April 27th. Thirteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $383.07.

Corpay Stock Up 0.4%

NYSE:CPAY opened at $348.74 on Tuesday. Corpay, Inc. has a 1-year low of $252.84 and a 1-year high of $367.43. The company has a 50-day moving average of $326.02 and a 200 day moving average of $319.03. The firm has a market cap of $22.79 billion, a PE ratio of 20.87, a price-to-earnings-growth ratio of 0.95 and a beta of 0.86. 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 (NYSE:CPAY - Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The company reported $5.80 earnings per share for the quarter, topping analysts' consensus estimates of $5.50 by $0.30. Corpay had a net margin of 24.60% and a return on equity of 38.68%. The company had revenue of $1.26 billion during the quarter, compared to analyst estimates of $1.21 billion. During the same period in the prior year, the firm earned $4.51 earnings per share. The firm's revenue for the quarter was up 25.4% compared to the same quarter last year. Corpay has set its FY 2026 guidance at 26.300-27.100 EPS and its Q2 2026 guidance at 6.450-6.650 EPS. As a group, research analysts anticipate that Corpay, Inc. will post 25.49 EPS for the current fiscal year.

About Corpay

Corpay NYSE: CPAY is a global payments and fintech company that provides businesses with tools to manage, move and optimize corporate spend. The company focuses on commercial payments, foreign exchange and cross-border transactions, aiming to simplify treasury operations and reduce friction in business-to-business payments through technology-driven solutions.

Its product offering includes payment processing and accounts payable automation, corporate and virtual card programs, expense management tools, and foreign-exchange hedging and execution services for international payments.

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.