OP Asset Management Ltd Invests $2.02 Million in Corpay, Inc $CPAY

Key Points

• OP Asset Management disclosed a new position in Corpay, buying 6,927 shares worth about $2.02 million in the first quarter.
• Corpay remains heavily held by institutions, with 98.84% of shares owned by hedge funds and other institutional investors; several large firms also increased their stakes recently.
• Analysts are generally positive on the stock, with 13 Buy ratings and an average price target of $383.07, while insiders have recently been net sellers of the shares.

OP Asset Management Ltd purchased a new stake in shares of Corpay, Inc (NYSE:CPAY - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 6,927 shares of the corporate payments company's stock, valued at approximately $2,016,000.

Several other institutional investors also recently bought and sold shares of CPAY. Orbis Allan Gray Ltd increased its holdings in shares of 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 purchasing an additional 859,854 shares in the last quarter. JPMorgan Chase & Co. grew its position in Corpay by 6.9% during the fourth quarter. JPMorgan Chase & Co. now owns 4,734,927 shares of the corporate payments company's stock valued at $1,424,882,000 after buying an additional 307,355 shares during the period. State Street Corp grew its position in Corpay by 0.8% during the third quarter. State Street Corp now owns 2,956,744 shares of the corporate payments company's stock valued at $851,720,000 after buying an additional 23,470 shares during the period. Geode Capital Management LLC increased its holdings in Corpay by 1.0% in the fourth quarter. Geode Capital Management LLC now owns 1,905,526 shares of the corporate payments company's stock valued at $571,346,000 after buying an additional 19,281 shares in the last quarter. Finally, Invesco Ltd. increased its holdings in Corpay by 0.5% in the fourth quarter. Invesco Ltd. now owns 1,751,048 shares of the corporate payments company's stock valued at $526,943,000 after buying an additional 8,783 shares in the last quarter. 98.84% of the stock is currently owned by hedge funds and other institutional investors.

Corpay Stock Up 0.1%

CPAY stock opened at $332.65 on Monday. Corpay, Inc has a 52 week low of $252.84 and a 52 week 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 50-day simple moving average of $339.67 and a 200-day simple moving average of $325.34. The stock has a market capitalization of $21.74 billion, a P/E ratio of 19.91, a P/E/G ratio of 0.91 and a beta of 0.86.

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

Analysts Set New Price Targets

CPAY has been the topic of several recent analyst reports. Wall Street Zen raised shares of Corpay from a "hold" rating to a "buy" rating in a research note on Monday, March 23rd. Wolfe Research restated an "outperform" rating and issued a $450.00 price target on shares of Corpay in a research note on Wednesday, June 3rd. Robert W. Baird reduced their price target on Corpay from $440.00 to $380.00 and set an "outperform" rating for the company in a report on Tuesday, March 31st. Raymond James Financial reiterated an "outperform" rating and set a $361.00 price target on shares of Corpay in a research report on Thursday, March 5th. Finally, Oppenheimer restated an "outperform" rating and issued a $388.00 price objective on shares of Corpay in a research report on Friday, May 8th. Thirteen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $383.07.

Insider Buying and Selling

In other Corpay news, insider Armando Lins Netto sold 70,476 shares of the firm's 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 transaction, the insider owned 11,274 shares in the company, valued at approximately $3,969,913.62. This trade represents a 86.21% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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 sale, the director directly owned 28,241 shares in the company, valued at approximately $10,188,787.98. This trade represents a 3.42% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 88,677 shares of company stock worth $31,304,091 over the last ninety days. Corporate insiders own 5.19% of the company's stock.

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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