SEB Asset Management AB Acquires New Position in Corpay, Inc $CPAY

SEB Asset Management AB acquired a new position in shares of Corpay, Inc (NYSE:CPAY - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 14,873 shares of the corporate payments company's stock, valued at approximately $4,328,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. lifted its position in shares of Corpay by 168,603.9% during the 4th 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 acquiring an additional 1,488,772 shares during the period. M&T Bank Corp grew its holdings in shares of 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. Norges Bank purchased a new position in Corpay in the 4th quarter valued at approximately $266,190,000. Orbis Allan Gray Ltd increased its stake in Corpay by 20.8% in 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. Finally, Spruce House Investment Management LLC raised its holdings in Corpay by 95.3% during the fourth quarter. Spruce House Investment Management LLC now owns 830,000 shares of the corporate payments company's stock worth $249,772,000 after purchasing an additional 405,000 shares during the last quarter. 98.84% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Corpay news, insider Armando Lins Netto sold 70,476 shares of the firm's stock in a transaction dated 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 sale, the insider directly owned 11,274 shares of the company's stock, valued at $3,969,913.62. This trade represents a 86.21% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Steven T. Stull sold 1,000 shares of the firm's stock in a transaction dated 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 $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. In the last ninety days, insiders have sold 88,677 shares of company stock worth $31,304,091. Corporate insiders own 5.19% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on CPAY shares. Robert W. Baird decreased their target price on Corpay from $440.00 to $380.00 and set an "outperform" rating on the stock in a research report on Tuesday, March 31st. Morgan Stanley restated an "overweight" rating and issued a $400.00 price target on shares of Corpay in a research report on Sunday, May 10th. Loop Capital started coverage on shares of Corpay in a research report on Monday, May 18th. They issued a "buy" rating and a $406.00 price objective on the stock. Wolfe Research reissued an "outperform" rating and issued a $450.00 price objective on shares of Corpay in a research note on Wednesday, June 3rd. Finally, Weiss Ratings raised shares of Corpay from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Monday, April 27th. Twelve equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $382.54.

Corpay Price Performance

CPAY stock opened at $359.12 on Thursday. Corpay, Inc has a 1 year low of $252.84 and a 1 year high of $374.09. The company has a debt-to-equity ratio of 1.86, a quick ratio of 0.98 and a current ratio of 0.98. The stock's 50 day moving average price is $349.93 and its 200 day moving average price is $333.11. The firm has a market cap of $23.47 billion, a P/E ratio of 21.49, a PEG ratio of 1.00 and a beta of 0.88.

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

About Corpay

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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