Spruce House Investment Management LLC Has $256.07 Million Stock Position in Corpay, Inc $CPAY

Key Points

• Spruce House Investment Management increased its Corpay stake by 6% in the first quarter, adding 50,000 shares to own 880,000 shares valued at approximately $256.1 million. Corpay represents 9.1% of the firm’s portfolio and 1.35% of Corpay’s outstanding shares.
• Institutional ownership remains high at 98.84%, while Wall Street maintains a positive outlook: 12 analysts rate Corpay a Buy and three rate it a Hold, producing a “Moderate Buy” consensus and an average price target of $382.54.
• Corpay shares opened at $370.83, near their 52-week high of $374.09, but insiders have sold 88,677 shares worth about $31.3 million over the past three months.

Spruce House Investment Management LLC boosted its position in Corpay, Inc (NYSE:CPAY - Free Report) by 6.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 880,000 shares of the corporate payments company's stock after buying an additional 50,000 shares during the period. Corpay makes up 9.1% of Spruce House Investment Management LLC's holdings, making the stock its 4th biggest holding. Spruce House Investment Management LLC owned about 1.35% of Corpay worth $256,071,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Lazard Asset Management LLC lifted its stake in shares of Corpay by 1.0% in the 1st quarter. Lazard Asset Management LLC now owns 158,670 shares of the corporate payments company's stock valued at $46,171,000 after purchasing an additional 1,530 shares during the period. OMERS ADMINISTRATION Corp grew its stake in Corpay by 28.1% during the first quarter. OMERS ADMINISTRATION Corp now owns 3,278 shares of the corporate payments company's stock worth $954,000 after purchasing an additional 720 shares during the period. Waverly Advisors LLC increased its holdings in Corpay by 1.3% in the first quarter. Waverly Advisors LLC now owns 35,653 shares of the corporate payments company's stock worth $10,375,000 after purchasing an additional 473 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in Corpay by 59.0% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 4,395 shares of the corporate payments company's stock worth $1,279,000 after purchasing an additional 1,630 shares in the last quarter. Finally, Morningstar Investment Management LLC acquired a new position in Corpay in the first quarter valued at approximately $3,854,000. Institutional investors own 98.84% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on CPAY. Wolfe Research restated an "outperform" rating and set a $450.00 price target on shares of Corpay in a report on Wednesday, June 3rd. Robert W. Baird dropped their target price on shares of 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 report on Sunday, May 10th. Oppenheimer reaffirmed an "outperform" rating and issued a $388.00 price target on shares of Corpay in a research note on Friday, May 8th. Finally, Loop Capital began coverage on shares of Corpay in a report on Monday, May 18th. They set a "buy" rating and a $406.00 price objective on the stock. Twelve investment 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.com, Corpay has an average rating of "Moderate Buy" and a consensus price target of $382.54.

Corpay Price Performance

Shares of NYSE:CPAY opened at $370.83 on Monday. Corpay, Inc has a twelve month low of $252.84 and a twelve month high of $374.09. The stock's 50 day moving average is $350.52 and its 200-day moving average is $333.88. 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 $24.24 billion, a price-to-earnings ratio of 22.19, a PEG ratio of 1.01 and a beta of 0.88.

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

Insider Activity

In other news, Director Steven T. Stull sold 1,000 shares of the business's stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $360.78, for a total transaction of $360,780.00. Following the completion of the sale, the director directly owned 28,241 shares of the company's stock, valued at $10,188,787.98. The trade was a 3.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Armando Lins Netto sold 70,476 shares of the company's stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $352.13, for a total transaction of $24,816,713.88. Following the completion of the sale, the insider owned 11,274 shares in the company, valued at $3,969,913.62. This represents a 86.21% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 88,677 shares of company stock valued at $31,304,091. 5.19% of the stock is currently owned by insiders.

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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