Norges Bank Buys New Position in Corpay, Inc. $CPAY

Key Points

• Norges Bank disclosed a new position in Corpay, buying 884,558 shares worth about $266.2 million and holding 1.26% of the company based on its latest filing.
• Corpay reported strong quarterly results, with EPS of $5.80 beating estimates and revenue of $1.26 billion exceeding expectations; revenue rose 25.4% year over year.
• Wall Street remains constructive on the stock, with 12 Buy ratings, three Holds, and a consensus price target of $377.92, while shares were down 1.1% on the day and trading near $360.

Norges Bank bought a new stake in shares of Corpay, Inc. (NYSE:CPAY - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 884,558 shares of the company's stock, valued at approximately $266,190,000. Norges Bank owned 1.26% of Corpay as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Hendershot Investments Inc. boosted its position in Corpay by 37.5% in the 3rd quarter. Hendershot Investments Inc. now owns 51,779 shares of the company's stock valued at $14,915,000 after buying an additional 14,128 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in Corpay by 5.6% in the 3rd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 138,858 shares of the company's stock valued at $39,999,000 after buying an additional 7,397 shares during the last quarter. Vanguard Group Inc. boosted its position in Corpay by 0.7% in the 3rd quarter. Vanguard Group Inc. now owns 8,182,672 shares of the company's stock valued at $2,357,100,000 after buying an additional 58,235 shares during the last quarter. Citigroup Inc. boosted its position in Corpay by 35.2% in the 3rd quarter. Citigroup Inc. now owns 86,004 shares of the company's stock valued at $24,774,000 after buying an additional 22,401 shares during the last quarter. Finally, Tredje AP fonden boosted its position in Corpay by 54.0% in the 3rd quarter. Tredje AP fonden now owns 8,877 shares of the company's stock valued at $2,557,000 after buying an additional 3,112 shares during the last quarter. Institutional investors own 98.84% of the company's stock.

Corpay Stock Down 1.1%

NYSE:CPAY opened at $359.99 on Wednesday. Corpay, Inc. has a 12-month low of $252.84 and a 12-month high of $367.43. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 1.86. The firm has a market capitalization of $23.53 billion, a P/E ratio of 21.54, a P/E/G ratio of 1.00 and a beta of 0.86. The stock's fifty day simple moving average is $319.90 and its 200-day simple moving average is $316.40.

Corpay (NYSE:CPAY - Get Free Report) last posted its quarterly earnings results on Thursday, May 7th. The company reported $5.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.50 by $0.30. The business had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.21 billion. Corpay had a return on equity of 38.68% and a net margin of 24.60%.The firm's revenue was up 25.4% on a year-over-year basis. During the same period last year, the company earned $4.51 EPS. Corpay has set its FY 2026 guidance at 26.300-27.100 EPS and its Q2 2026 guidance at 6.450-6.650 EPS. Equities research analysts expect that Corpay, Inc. will post 25.49 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have commented on CPAY shares. Cantor Fitzgerald increased their price objective on Corpay from $385.00 to $415.00 and gave the company an "overweight" rating in a research report on Monday, February 9th. Oppenheimer reiterated an "outperform" rating and issued a $388.00 price objective on shares of Corpay in a research report on Friday, May 8th. Weiss Ratings upgraded Corpay from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Monday, April 27th. Robert W. Baird decreased their price objective on Corpay from $440.00 to $380.00 and set an "outperform" rating on the stock in a research report on Tuesday, March 31st. Finally, Raymond James Financial reiterated an "outperform" rating and issued a $361.00 price objective on shares of Corpay in a research report on Thursday, March 5th. Twelve research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat, Corpay presently has a consensus rating of "Moderate Buy" and a consensus price target of $377.92.

Insiders Place Their Bets

In other Corpay news, insider Armando Lins Netto sold 14,089 shares of Corpay stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $356.05, for a total transaction of $5,016,388.45. Following the transaction, the insider directly owned 18,528 shares in the company, valued at approximately $6,596,894.40. The trade was a 43.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders sold 17,201 shares of company stock worth $6,126,597 in the last 90 days. Insiders own 5.19% of the company's stock.

Corpay Company Profile

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.

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