Louisiana State Employees Retirement System Purchases New Holdings in Corpay, Inc $CPAY

Key Points

• Louisiana State Employees Retirement System opened a new position in Corpay during the first quarter, buying 3,600 shares valued at about $1.05 million.
• Institutional ownership in Corpay remains very high, with several large investors adding stakes and institutions now holding 98.84% of the company.
• Insiders have been selling shares recently, including a large sale by Armando Lins Netto, while analysts remain broadly positive with a Moderate Buy consensus and a target price around $383.07.

Louisiana State Employees Retirement System acquired a new position in Corpay, Inc (NYSE:CPAY - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 3,600 shares of the corporate payments company's stock, valued at approximately $1,048,000.

Other institutional investors have also added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. grew 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 corporate payments company's stock valued at $448,282,000 after buying an additional 1,488,772 shares during the last quarter. M&T Bank Corp lifted its stake in shares of Corpay by 4,657.7% during the 4th quarter. M&T Bank Corp now owns 1,044,074 shares of the corporate payments company's stock worth $314,193,000 after acquiring an additional 1,022,129 shares during the last quarter. Norges Bank bought a new stake in shares of Corpay during the 4th quarter worth approximately $266,190,000. Orbis Allan Gray Ltd boosted its holdings in Corpay by 20.8% during the 4th quarter. Orbis Allan Gray Ltd now owns 4,987,968 shares of the corporate payments company's stock valued at $1,501,029,000 after acquiring an additional 859,854 shares during the period. Finally, Spruce House Investment Management LLC boosted its holdings in Corpay by 95.3% during the 4th quarter. Spruce House Investment Management LLC now owns 830,000 shares of the corporate payments company's stock valued at $249,772,000 after acquiring an additional 405,000 shares during the period. Institutional investors own 98.84% of the company's stock.

Insider Transactions at Corpay

In related news, insider Armando Lins Netto sold 70,476 shares of the stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $352.13, for a total transaction 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. This represents a 86.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Steven T. Stull sold 1,000 shares of Corpay stock in a transaction 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 transaction, the director directly 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. 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 in the last three months. Insiders own 5.19% of the company's stock.

Corpay Price Performance

Shares of CPAY stock opened at $352.24 on Friday. Corpay, Inc has a twelve month low of $252.84 and a twelve month high of $367.43. The stock has a market capitalization of $23.02 billion, a price-to-earnings ratio of 21.08, a P/E/G ratio of 0.96 and a beta of 0.88. The stock has a fifty day simple moving average of $345.80 and a two-hundred day simple moving average of $327.50. 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 announced its quarterly earnings results on Thursday, May 14th. The corporate payments company reported ($0.01) EPS 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%. On average, analysts predict that Corpay, Inc will post 25.49 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Oppenheimer reiterated an "outperform" rating and issued a $388.00 target price on shares of Corpay in a research note on Friday, May 8th. Weiss Ratings raised shares of Corpay from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Monday, April 27th. Wolfe Research restated an "outperform" rating and issued a $450.00 price target on shares of Corpay in a report on Wednesday, June 3rd. Robert W. Baird reduced their price target 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. Finally, Loop Capital started coverage on shares of Corpay in a report on Monday, May 18th. They set a "buy" rating and a $406.00 price objective for the company. Thirteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $383.07.

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.

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

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