Procyon Advisors LLC Raises Stock Position in Corpay, Inc $CPAY

Key Points

• Procyon Advisors LLC increased its stake in Corpay by 78% in the first quarter, bringing its holdings to 6,357 shares valued at about $1.85 million.
• Corpay’s stock was trading near its 52-week high at $362.00, supported by a market cap of $23.66 billion and a price target consensus of about $383.07.
• Analyst sentiment remains constructive: the stock has a Moderate Buy rating overall, with 13 Buy ratings and 3 Hold ratings, despite recent insider sales totaling 88,677 shares over the last 90 days.

Procyon Advisors LLC lifted its holdings in shares of Corpay, Inc (NYSE:CPAY - Free Report) by 78.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,357 shares of the corporate payments company's stock after acquiring an additional 2,786 shares during the quarter. Procyon Advisors LLC's holdings in Corpay were worth $1,850,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Generate Investment Management Ltd grew its stake in shares of Corpay by 60.0% in the fourth quarter. Generate Investment Management Ltd now owns 120,000 shares of the corporate payments company's stock valued at $36,112,000 after buying an additional 45,000 shares in the last quarter. Pensionfund Sabic acquired a new position in Corpay during the 4th quarter worth approximately $1,113,000. Louisiana State Employees Retirement System acquired a new position in Corpay during the 1st quarter worth approximately $1,048,000. M&T Bank Corp boosted its holdings in Corpay by 4,657.7% in 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 period. Finally, Moran Wealth Management LLC boosted its holdings in Corpay by 77.9% in the 1st quarter. Moran Wealth Management LLC now owns 37,869 shares of the corporate payments company's stock worth $11,020,000 after acquiring an additional 16,586 shares during the period. 98.84% of the stock is owned by hedge funds and other institutional investors.

Corpay Price Performance

CPAY stock opened at $362.00 on Tuesday. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 1.86. Corpay, Inc has a 52-week low of $252.84 and a 52-week high of $367.43. The stock's 50 day moving average is $348.78 and its two-hundred day moving average is $330.77. The company has a market capitalization of $23.66 billion, a PE ratio of 21.66, a P/E/G ratio of 0.97 and a beta of 0.88.

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

Insiders Place Their Bets

In related news, Director Steven T. Stull sold 1,000 shares of the company's stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $360.78, for a total value of $360,780.00. Following the sale, the director directly owned 28,241 shares of the company's stock, valued at $10,188,787.98. This represents a 3.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Armando Lins Netto sold 70,476 shares of the stock in a transaction 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 transaction, the insider owned 11,274 shares in the company, valued at $3,969,913.62. This trade represents a 86.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 88,677 shares of company stock valued at $31,304,091. Insiders own 5.19% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Weiss Ratings upgraded shares of Corpay from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Monday, April 27th. Wall Street Zen upgraded shares of Corpay from a "hold" rating to a "buy" rating in a research note on Monday, March 23rd. Morgan Stanley reaffirmed an "overweight" rating and set a $400.00 price target on shares of Corpay in a report on Sunday, May 10th. Robert W. Baird dropped 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, Oppenheimer reiterated an "outperform" rating and issued a $388.00 price objective on shares of Corpay in a report on Friday, May 8th. Thirteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $383.07.

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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