Y Intercept Hong Kong Ltd Purchases New Stake in Corpay, Inc $CPAY

Key Points

• Y Intercept Hong Kong Ltd opened a new position in Corpay during the first quarter, buying 12,573 shares worth about $3.66 million.
• Institutional ownership remains extremely high at 98.84%, and several large funds, including Orbis Allan Gray and JPMorgan Chase, also recently increased their Corpay holdings.
• Corpay shares were trading around $360.48, near their 52-week high, while analysts remain broadly positive with 13 Buy ratings and an average price target of $383.07.

Y Intercept Hong Kong Ltd acquired a new stake in shares of Corpay, Inc (NYSE:CPAY - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 12,573 shares of the corporate payments company's stock, valued at approximately $3,659,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Orbis Allan Gray Ltd increased its holdings 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 worth $1,501,029,000 after purchasing an additional 859,854 shares in the last quarter. JPMorgan Chase & Co. boosted its position in Corpay by 6.9% during the 4th quarter. JPMorgan Chase & Co. now owns 4,734,927 shares of the corporate payments company's stock worth $1,424,882,000 after buying an additional 307,355 shares during the period. State Street Corp boosted its position in Corpay by 0.8% during the 3rd quarter. State Street Corp now owns 2,956,744 shares of the corporate payments company's stock worth $851,720,000 after buying an additional 23,470 shares during the period. Geode Capital Management LLC grew its holdings 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 acquiring an additional 19,281 shares during the last quarter. Finally, Invesco Ltd. grew its holdings in Corpay by 0.5% during the 4th 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 during the last quarter. Institutional investors own 98.84% of the company's stock.

Insider Activity

In other news, Director Steven T. Stull sold 1,000 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $360.78, for a total value 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. This represents a 3.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Armando Lins Netto sold 70,476 shares of the company's stock in a transaction 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 sale, the insider 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 SEC filing for this sale provides additional information. In the last ninety days, insiders sold 88,677 shares of company stock worth $31,304,091. 5.19% of the stock is owned by insiders.

Corpay Stock Up 1.1%

Shares of NYSE CPAY traded up $3.93 during trading on Tuesday, hitting $360.48. 110,108 shares of the company traded hands, compared to its average volume of 648,539. The business's fifty day moving average is $346.44 and its 200 day moving average is $328.39. Corpay, Inc has a fifty-two week low of $252.84 and a fifty-two week high of $367.43. 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 firm has a market capitalization of $23.56 billion, a price-to-earnings ratio of 21.55, a P/E/G ratio of 0.96 and a beta of 0.88.

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

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Wall Street Zen raised shares of Corpay from a "hold" rating to a "buy" rating in a research note on Monday, March 23rd. Wolfe Research reaffirmed an "outperform" rating and set a $450.00 target price on shares of Corpay in a report on Wednesday, June 3rd. Weiss Ratings upgraded Corpay from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Monday, April 27th. Oppenheimer reissued an "outperform" rating and issued a $388.00 price target on shares of Corpay in a research note on Friday, May 8th. Finally, Robert W. Baird lowered their price objective on Corpay from $440.00 to $380.00 and set an "outperform" rating for the company in a research report on Tuesday, March 31st. Thirteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $383.07.

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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