Sumitomo Mitsui Trust Group Inc. Sells 9,459 Shares of Corpay, Inc $CPAY

Key Points

• Sumitomo Mitsui Trust Group reduced its Corpay stake by 6.4% in Q1, selling 9,459 shares and ending with 138,782 shares worth about $40.4 million.
• Corpay shares were nearly flat on Monday, opening at $353.86, while the company’s stock has traded between a 52-week low of $252.84 and a high of $367.43.
• Wall Street remains upbeat on Corpay, with 13 Buy ratings and three Hold ratings, giving it a consensus Moderate Buy and an average price target of $383.07.

Sumitomo Mitsui Trust Group Inc. trimmed its holdings in Corpay, Inc (NYSE:CPAY - Free Report) by 6.4% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 138,782 shares of the corporate payments company's stock after selling 9,459 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.20% of Corpay worth $40,384,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. MV Capital Management Inc. bought a new position in Corpay in the 4th quarter valued at $25,000. Leonteq Securities AG bought a new stake in shares of Corpay during the fourth quarter worth $27,000. BOKF NA lifted its stake in shares of Corpay by 4,700.0% during the third quarter. BOKF NA now owns 96 shares of the corporate payments company's stock valued at $28,000 after acquiring an additional 94 shares during the period. Torren Management LLC acquired a new position in shares of Corpay during the fourth quarter valued at $29,000. Finally, DV Equities LLC bought a new position in Corpay in the fourth quarter valued at about $30,000. Institutional investors and hedge funds own 98.84% of the company's stock.

Corpay Trading Up 0.1%

NYSE:CPAY opened at $353.86 on Monday. Corpay, Inc has a 1-year low of $252.84 and a 1-year high of $367.43. The business's 50-day moving average price is $348.23 and its two-hundred day moving average price is $330.31. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 1.86. The firm has a market capitalization of $23.13 billion, a price-to-earnings ratio of 21.18, a PEG ratio of 0.97 and a beta of 0.88.

Corpay (NYSE:CPAY - Get Free Report) last issued 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 net margin of 24.60% and a return on equity of 38.68%. The firm had revenue of $5.63 million for the quarter. On average, equities analysts expect that Corpay, Inc will post 25.49 earnings per share for the current year.

Insiders Place Their Bets

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

Analysts Set New Price Targets

A number of brokerages recently commented on CPAY. Wall Street Zen upgraded Corpay from a "hold" rating to a "buy" rating in a research report on Monday, March 23rd. Loop Capital started coverage on shares of Corpay in a research note on Monday, May 18th. They issued a "buy" rating and a $406.00 target price on the stock. Morgan Stanley reiterated an "overweight" rating and set a $400.00 price target on shares of Corpay in a research report on Sunday, May 10th. Oppenheimer reissued an "outperform" rating and set a $388.00 price target on shares of Corpay in a research note on Friday, May 8th. Finally, Wolfe Research restated an "outperform" rating and issued a $450.00 price objective on shares of Corpay in a report on Wednesday, June 3rd. Thirteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat, Corpay has an average rating of "Moderate Buy" and a consensus price target of $383.07.

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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