Corpay, Inc $CPAY Stock: King Luther Capital Management Corp Boosts Stake

King Luther Capital Management Corp increased its holdings in Corpay, Inc (NYSE:CPAY) by 115.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,115 shares of the corporate payments company’s stock after acquiring an additional 11,292 shares during the quarter. King Luther Capital Management Corp’s holdings in Corpay were worth $7,858,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in CPAY. Spruce House Investment Management LLC raised its position in shares of Corpay by 6.0% in the 1st quarter. Spruce House Investment Management LLC now owns 880,000 shares of the corporate payments company’s stock worth $256,071,000 after purchasing an additional 50,000 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Corpay by 3.1% during the first quarter. Dimensional Fund Advisors LP now owns 782,500 shares of the corporate payments company’s stock valued at $227,695,000 after purchasing an additional 23,646 shares during the period. Hawk Ridge Capital Management LP lifted its holdings in shares of Corpay by 20.5% during the 1st quarter. Hawk Ridge Capital Management LP now owns 532,180 shares of the corporate payments company’s stock valued at $154,859,000 after buying an additional 90,360 shares during the period. Bank of America Corp DE boosted its position in Corpay by 0.6% in the first quarter. Bank of America Corp DE now owns 364,102 shares of the corporate payments company’s stock worth $105,950,000 after purchasing an additional 2,131 shares during the last quarter. Finally, Bank of New York Mellon Corp purchased a new position in shares of Corpay in the second quarter worth approximately $107,805,000. Hedge funds and other institutional investors own 98.84% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Cantor Fitzgerald boosted their price objective on Corpay from $480.00 to $550.00 and gave the company an “overweight” rating in a research note on Monday. Morgan Stanley boosted their target price on Corpay from $455.00 to $460.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 28th. Scotiabank increased their price objective on shares of Corpay from $536.00 to $539.00 and gave the company a “sector outperform” rating in a research report on Thursday, November 5th. Wolfe Research lifted their target price on Corpay from $475.00 to $530.00 and gave the stock an “outperform” rating in a report on Tuesday, August 25th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Corpay from $470.00 to $525.00 and gave the stock an “outperform” rating in a research note on Thursday, November 5th. Eleven investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $474.38.

Insider Buying and Selling at Corpay

In related news, Director Steven T. Stull sold 2,357 shares of Corpay stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $413.62, for a total value of $974,902.34. Following the completion of the sale, the director directly owned 21,241 shares in the company, valued at $8,785,702.42. This trade represents a 9.99% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Ronald Clarke sold 119,486 shares of Corpay stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $412.40, for a total transaction of $49,276,026.40. Following the sale, the chief executive officer owned 2,354,330 shares of the company’s stock, valued at $970,925,692. The trade was a 4.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 220,860 shares of company stock valued at $91,395,514. Company insiders own 5.19% of the company’s stock.

Corpay Stock Performance

Shares of NYSE:CPAY opened at $455.35 on Friday. The company has a market capitalization of $29.13 billion, a price-to-earnings ratio of 25.05, a price-to-earnings-growth ratio of 1.05 and a beta of 0.94. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 1.82. Corpay, Inc has a 52 week low of $271.22 and a 52 week high of $479.53. The firm has a 50 day moving average of $409.04 and a 200 day moving average of $362.46.

Corpay (NYSE:CPAY) last issued its quarterly earnings data on Wednesday, November 4th. The corporate payments company reported $7.54 earnings per share for the quarter, beating analysts’ consensus estimates of $7.20 by $0.34. The company had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.36 billion. Corpay had a return on equity of 46.94% and a net margin of 23.73%. The firm’s revenue for the quarter was up 17.9% compared to the same quarter last year. During the same quarter last year, the company earned $5.70 earnings per share. On average, sell-side analysts predict that Corpay, Inc will post 26.52 earnings per share for the current fiscal 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.