Leith Wheeler Investment Counsel Ltd. Decreases Holdings in Corpay, Inc $CPAY

Leith Wheeler Investment Counsel Ltd. decreased its holdings in Corpay, Inc (NYSE:CPAY) by 7.8% in the first quarter, Holdings Channel reports. The fund owned 47,646 shares of the corporate payments company’s stock after selling 4,027 shares during the quarter. Corpay makes up 1.1% of Leith Wheeler Investment Counsel Ltd.’s holdings, making the stock its 23rd biggest holding. Leith Wheeler Investment Counsel Ltd.’s holdings in Corpay were worth $13,865,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Orbis Allan Gray Ltd increased its stake in Corpay by 20.8% during the fourth quarter. Orbis Allan Gray Ltd now owns 4,987,968 shares of the corporate payments company’s stock worth $1,501,029,000 after acquiring an additional 859,854 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Corpay by 6.9% in the 4th quarter. JPMorgan Chase & Co. now owns 4,734,927 shares of the corporate payments company’s stock valued at $1,424,882,000 after purchasing an additional 307,355 shares during the last quarter. State Street Corp lifted its stake 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 purchasing an additional 23,470 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Corpay by 1.0% in 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 purchasing an additional 19,281 shares during the period. Finally, Invesco Ltd. boosted its holdings in shares of Corpay by 0.5% in the 4th quarter. Invesco Ltd. now owns 1,751,048 shares of the corporate payments company’s stock worth $526,943,000 after purchasing an additional 8,783 shares during the period. Hedge funds and other institutional investors own 98.84% of the company’s stock.

Wall Street Analyst Weigh In

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

Insider Buying and Selling at Corpay

In other Corpay news, Director Steven T. Stull sold 1,000 shares of the company’s stock in a transaction 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 transaction, the director owned 28,241 shares of the company’s stock, valued at $10,188,787.98. This represents a 3.42% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Armando Lins Netto sold 70,476 shares of the 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 completion of the sale, the insider owned 11,274 shares in the company, valued at approximately $3,969,913.62. The trade was a 86.21% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 88,677 shares of company stock worth $31,304,091 in the last ninety days. 5.19% of the stock is currently owned by corporate insiders.

Corpay Stock Up 0.8%

Shares of NYSE:CPAY opened at $368.87 on Tuesday. The firm has a market capitalization of $24.11 billion, a PE ratio of 22.07, a price-to-earnings-growth ratio of 1.00 and a beta of 0.88. The business has a 50 day simple moving average of $349.53 and a two-hundred day simple moving average of $332.61. 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 current ratio of 0.98 and a quick ratio of 0.98.

Corpay (NYSE:CPAY) last issued 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 business had revenue of $5.63 million during the quarter. On average, equities analysts predict that Corpay, Inc will post 25.49 EPS for the current 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.