Swedbank AB Has $52.41 Million Stock Position in Corpay, Inc $CPAY

Key Points

• Swedbank AB cut its Corpay stake by 34% in the first quarter, selling 92,714 shares and leaving it with 180,103 shares worth about $52.4 million.
• Corpay continues to attract major institutional ownership, with hedge funds and asset managers holding 98.84% of the stock overall; several large firms, including Orbis Allan Gray and JPMorgan, recently increased positions.
• Despite recent insider selling, analysts remain constructive on the stock: Corpay has a Moderate Buy consensus rating and an average price target of $383.07, above its recent share price of around $357.

Swedbank AB cut its stake in shares of Corpay, Inc (NYSE:CPAY - Free Report) by 34.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 180,103 shares of the corporate payments company's stock after selling 92,714 shares during the period. Swedbank AB owned approximately 0.26% of Corpay worth $52,408,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Orbis Allan Gray Ltd increased its stake in shares of 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 acquiring an additional 859,854 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of Corpay by 6.9% during the fourth quarter. JPMorgan Chase & Co. now owns 4,734,927 shares of the corporate payments company's stock worth $1,424,882,000 after purchasing an additional 307,355 shares in the last quarter. State Street Corp increased its position in shares of Corpay by 0.8% in the 3rd quarter. State Street Corp now owns 2,956,744 shares of the corporate payments company's stock valued at $851,720,000 after buying an additional 23,470 shares in the last quarter. Geode Capital Management LLC raised its stake in Corpay by 1.0% during the 4th quarter. Geode Capital Management LLC now owns 1,905,526 shares of the corporate payments company's stock worth $571,346,000 after buying an additional 19,281 shares during the period. Finally, Invesco Ltd. lifted its holdings in Corpay by 0.5% during the fourth quarter. Invesco Ltd. now owns 1,751,048 shares of the corporate payments company's stock worth $526,943,000 after acquiring an additional 8,783 shares in the last quarter. Institutional investors own 98.84% of the company's stock.

Corpay Price Performance

Shares of NYSE CPAY opened at $357.40 on Wednesday. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 1.86. The business's 50 day moving average price is $347.53 and its two-hundred day moving average price is $329.19. The company has a market cap of $23.36 billion, a PE ratio of 21.39, a price-to-earnings-growth ratio of 0.98 and a beta of 0.88. Corpay, Inc has a twelve month low of $252.84 and a twelve month high of $367.43.

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

Insider Activity

In other news, insider Armando Lins Netto sold 70,476 shares of the company's stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $352.13, for a total value of $24,816,713.88. Following the transaction, the insider owned 11,274 shares of the company's stock, valued at approximately $3,969,913.62. This represents a 86.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Steven T. Stull sold 1,000 shares of the business'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 completion of the sale, the director owned 28,241 shares of the company's stock, valued at $10,188,787.98. This trade represents a 3.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 88,677 shares of company stock valued at $31,304,091 in the last ninety days. 5.19% of the stock is currently owned by insiders.

Analyst Ratings Changes

CPAY has been the subject of several recent analyst reports. Wolfe Research restated an "outperform" rating and issued a $450.00 price target on shares of Corpay in a report on Wednesday, June 3rd. Oppenheimer restated an "outperform" rating and set a $388.00 target price on shares of Corpay in a report on Friday, May 8th. Wall Street Zen raised shares of Corpay from a "hold" rating to a "buy" rating in a research report on Monday, March 23rd. Weiss Ratings upgraded shares of Corpay from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday, April 27th. Finally, Robert W. Baird reduced their target price on shares of Corpay from $440.00 to $380.00 and set an "outperform" rating for the company in a research note on Tuesday, March 31st. Thirteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average 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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