Leith Wheeler Investment Counsel Ltd. Trims Stock Holdings in Corpay, Inc $CPAY

Key Points

• Leith Wheeler Investment Counsel cut its Corpay stake by 7.8% in the first quarter, selling 4,027 shares and leaving it with 47,646 shares worth about $13.9 million.
• Wall Street sentiment on Corpay (NYSE: CPAY) remains positive, with 12 analysts rating it a Buy and three a Hold; the consensus target price is $382.54.
• Corpay shares were trading near their 52-week high at $368.87, while insiders have also been selling shares recently, including a large sale by Armando Lins Netto.

Leith Wheeler Investment Counsel Ltd. lowered its stake in Corpay, Inc (NYSE:CPAY - Free Report) by 7.8% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 47,646 shares of the corporate payments company's stock after selling 4,027 shares during the quarter. Corpay comprises 1.1% of Leith Wheeler Investment Counsel Ltd.'s portfolio, making the stock its 23rd biggest holding. Leith Wheeler Investment Counsel Ltd. owned 0.07% of Corpay worth $13,865,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. MV Capital Management Inc. purchased a new stake in Corpay in the 4th quarter worth approximately $25,000. Leonteq Securities AG purchased a new position in Corpay during the fourth quarter valued at approximately $27,000. BOKF NA lifted its holdings 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 purchasing an additional 94 shares in the last quarter. Torren Management LLC purchased a new position in Corpay during the fourth quarter valued at approximately $29,000. Finally, DV Equities LLC bought a new position in shares of Corpay in the fourth quarter worth approximately $30,000. 98.84% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on CPAY shares. Wolfe Research reissued an "outperform" rating and issued a $450.00 price objective on shares of Corpay in a research note on Wednesday, June 3rd. Oppenheimer restated an "outperform" rating and set a $388.00 target price on shares of Corpay in a research note on Friday, May 8th. Morgan Stanley reaffirmed an "overweight" rating and issued a $400.00 target price on shares of Corpay in a report on Sunday, May 10th. Robert W. Baird cut their price target on Corpay from $440.00 to $380.00 and set an "outperform" rating for the company in a research note on Tuesday, March 31st. Finally, Weiss Ratings raised Corpay from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday, April 27th. Twelve 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 presently has a consensus rating of "Moderate Buy" and an average target price of $382.54.

Corpay Price Performance

CPAY stock opened at $368.87 on Tuesday. The company has a debt-to-equity ratio of 1.86, a quick ratio of 0.98 and a current ratio of 0.98. The company's fifty day moving average price is $349.53 and its 200-day moving average price is $332.61. Corpay, Inc has a one year low of $252.84 and a one year high of $374.09. The company has a market capitalization of $24.11 billion, a PE ratio of 22.07, a price-to-earnings-growth ratio of 1.00 and a beta of 0.88.

Corpay (NYSE:CPAY - Get Free Report) last posted its earnings results on Thursday, May 14th. The corporate payments company reported ($0.01) earnings per share for the quarter. The company 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%. On average, equities analysts anticipate that Corpay, Inc will post 25.49 EPS for the current fiscal year.

Insider Activity

In other 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 sale, the insider directly owned 11,274 shares of the company's stock, valued at approximately $3,969,913.62. The trade was a 86.21% decrease in their ownership of the stock. 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 business's stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $360.78, for a total value of $360,780.00. Following the completion of the sale, the director owned 28,241 shares in the company, valued at $10,188,787.98. This represents a 3.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 88,677 shares of company stock worth $31,304,091 over the last ninety days. Insiders own 5.19% of the company's stock.

Corpay Company 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.

Corpay operates as part of the broader financial technology and payment processing sector.

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