Provident Investment Management Inc. Reduces Stock Holdings in Corpay, Inc. $CPAY

Key Points

• Provident Investment Management trimmed its stake in Corpay by 9.6% (sold 20,025 shares) to 188,234 shares, a position worth about $54.2 million that represents ~4.8% of the fund and 0.27% of Corpay outstanding.
• Institutional activity remains heavy: new large stakes from Norges Bank ($266M) and Hawk Ridge ($106M), a sizable holding by Vanguard (8.12M shares, ~$2.70B), and institutional ownership totaling 98.84%.
• Corpay beat estimates with Q EPS of $6.04 and $1.25B revenue, set FY2026 EPS guidance of 25.50–26.50, and trades around $298 (market cap ~$20.9B) with an average analyst rating of "Moderate Buy" and a $377.57 price target.

Provident Investment Management Inc. lowered its position in Corpay, Inc. (NYSE:CPAY - Free Report) by 9.6% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 188,234 shares of the company's stock after selling 20,025 shares during the period. Corpay makes up about 4.8% of Provident Investment Management Inc.'s portfolio, making the stock its 8th largest position. Provident Investment Management Inc. owned approximately 0.27% of Corpay worth $54,223,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the company. Norges Bank acquired a new stake in shares of Corpay in the 2nd quarter worth $266,246,000. Hawk Ridge Capital Management LP acquired a new position in Corpay during the 3rd quarter valued at about $106,381,000. Vanguard Group Inc. increased its position in Corpay by 3.2% during the 2nd quarter. Vanguard Group Inc. now owns 8,124,437 shares of the company's stock valued at $2,695,851,000 after buying an additional 251,651 shares in the last quarter. Wellington Management Group LLP raised its stake in Corpay by 54.9% in the third quarter. Wellington Management Group LLP now owns 631,496 shares of the company's stock valued at $181,909,000 after buying an additional 223,704 shares during the last quarter. Finally, Squarepoint Ops LLC raised its stake in Corpay by 7,044.2% in the third quarter. Squarepoint Ops LLC now owns 135,454 shares of the company's stock valued at $39,019,000 after buying an additional 133,558 shares during the last quarter. Institutional investors own 98.84% of the company's stock.

Corpay Stock Down 3.8%

CPAY stock opened at $298.42 on Wednesday. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 1.70. Corpay, Inc. has a 52 week low of $252.84 and a 52 week high of $361.99. The stock has a market capitalization of $20.88 billion, a P/E ratio of 19.84, a P/E/G ratio of 0.89 and a beta of 0.80. The firm has a 50-day simple moving average of $327.46 and a 200-day simple moving average of $306.53.

Corpay (NYSE:CPAY - Get Free Report) last issued its quarterly earnings results on Wednesday, February 4th. The company reported $6.04 EPS for the quarter, topping the consensus estimate of $5.93 by $0.11. The firm had revenue of $1.25 billion during the quarter, compared to analysts' expectations of $1.23 billion. Corpay had a return on equity of 37.13% and a net margin of 23.62%.The firm's revenue for the quarter was up 20.7% on a year-over-year basis. During the same period in the previous year, the business earned $5.36 earnings per share. Corpay has set its FY 2026 guidance at 25.500-26.500 EPS and its Q1 2026 guidance at 5.380-5.520 EPS. Equities analysts forecast that Corpay, Inc. will post 19.76 earnings per share for the current fiscal year.

Insider Activity at Corpay

In related news, CAO Alissa B. Vickery sold 1,701 shares of the firm's stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $358.65, for a total transaction of $610,063.65. Following the completion of the sale, the chief accounting officer directly owned 2,180 shares in the company, valued at approximately $781,857. This trade represents a 43.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 5.04% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

CPAY has been the topic of a number of research analyst reports. Scotiabank raised shares of Corpay to a "sector outperform" rating in a report on Monday, January 26th. Cantor Fitzgerald raised their price objective on Corpay from $385.00 to $415.00 and gave the stock an "overweight" rating in a research note on Monday, February 9th. Wall Street Zen downgraded Corpay from a "buy" rating to a "hold" rating in a report on Sunday. Raymond James Financial reissued an "outperform" rating and set a $361.00 price target on shares of Corpay in a research report on Thursday, March 5th. Finally, Weiss Ratings reiterated a "hold (c+)" rating on shares of Corpay in a research note on Monday, December 29th. Ten research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, Corpay presently has an average rating of "Moderate Buy" and an average price target of $377.57.

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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