Hawk Ridge Capital Management LP Increases Stake in Corpay, Inc $CPAY

Hawk Ridge Capital Management LP lifted its position in shares of Corpay, Inc (NYSE:CPAY) by 20.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 532,180 shares of the corporate payments company’s stock after buying an additional 90,360 shares during the period. Corpay comprises 5.6% of Hawk Ridge Capital Management LP’s investment portfolio, making the stock its 3rd largest position. Hawk Ridge Capital Management LP’s holdings in Corpay were worth $154,859,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. boosted its stake in Corpay by 168,603.9% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,489,655 shares of the corporate payments company’s stock worth $448,282,000 after buying an additional 1,488,772 shares in the last quarter. M&T Bank Corp raised its stake in shares of Corpay by 4,657.7% during the fourth quarter. M&T Bank Corp now owns 1,044,074 shares of the corporate payments company’s stock worth $314,193,000 after acquiring an additional 1,022,129 shares in the last quarter. Norges Bank purchased a new position in shares of Corpay during the fourth quarter worth approximately $266,190,000. Orbis Allan Gray Ltd lifted its holdings 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 worth $1,501,029,000 after acquiring an additional 859,854 shares during the last quarter. Finally, Spruce House Investment Management LLC lifted its holdings in shares of Corpay by 95.3% in the 4th quarter. Spruce House Investment Management LLC now owns 830,000 shares of the corporate payments company’s stock worth $249,772,000 after acquiring an additional 405,000 shares during the last quarter. 98.84% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Corpay

In other news, Director Steven T. Stull sold 1,000 shares of Corpay 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 sale, the director directly owned 28,241 shares in the company, valued at approximately $10,188,787.98. This trade represents a 3.42% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Armando Lins Netto sold 70,476 shares of the business’s stock in a transaction that occurred 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 transaction, the insider directly owned 11,274 shares in the company, valued at $3,969,913.62. This trade represents a 86.21% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 88,677 shares of company stock worth $31,304,091. 5.19% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CPAY. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Corpay in a research note on Friday. Morgan Stanley reissued an “overweight” rating and issued a $400.00 price target on shares of Corpay in a research note on Sunday, May 10th. Oppenheimer reissued an “outperform” rating and issued a $388.00 price target on shares of Corpay in a research note on Friday, May 8th. Wolfe Research restated an “outperform” rating and set a $450.00 price target on shares of Corpay in a research report on Wednesday, June 3rd. Finally, Robert W. Baird reduced their price objective on Corpay from $440.00 to $380.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 31st. Twelve equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $382.54.

Corpay Price Performance

CPAY stock opened at $380.02 on Tuesday. The firm’s 50-day moving average price is $351.11 and its two-hundred day moving average price is $334.28. Corpay, Inc has a 12-month low of $252.84 and a 12-month high of $382.78. The stock has a market capitalization of $24.84 billion, a price-to-earnings ratio of 22.74, a PEG ratio of 1.01 and a beta of 0.88. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 1.86.

Corpay (NYSE:CPAY) last issued its quarterly earnings data on Thursday, May 14th. The corporate payments company reported ($0.01) EPS for the quarter. The firm had revenue of $5.63 million for the quarter. Corpay had a net margin of 24.60% and a return on equity of 38.68%. As a group, equities analysts predict that Corpay, Inc will post 25.49 earnings per share for the current year.

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.