Morningstar Investment Management LLC Takes $3.85 Million Position in Corpay, Inc $CPAY

Morningstar Investment Management LLC bought a new stake in shares of Corpay, Inc (NYSE:CPAY) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 13,245 shares of the corporate payments company’s stock, valued at approximately $3,854,000.

Other hedge funds also recently bought and sold shares of the company. Orbis Allan Gray Ltd increased its stake 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 buying an additional 859,854 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Corpay by 6.9% in the fourth quarter. JPMorgan Chase & Co. now owns 4,734,927 shares of the corporate payments company’s stock valued at $1,424,882,000 after acquiring an additional 307,355 shares in the last quarter. State Street Corp lifted its position in shares of Corpay by 0.8% in the third quarter. State Street Corp now owns 2,956,744 shares of the corporate payments company’s stock valued at $851,720,000 after acquiring an additional 23,470 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Corpay by 1.0% in the fourth quarter. Geode Capital Management LLC now owns 1,905,526 shares of the corporate payments company’s stock valued at $571,346,000 after acquiring an additional 19,281 shares in the last quarter. Finally, Invesco Ltd. boosted its stake in shares of Corpay by 0.5% in 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 during the period. Institutional investors own 98.84% of the company’s stock.

Insider Buying and Selling

In related news, insider Armando Lins Netto sold 70,476 shares of the stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $352.13, for a total transaction of $24,816,713.88. Following the completion of the transaction, the insider directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Steven T. Stull sold 1,000 shares of the firm’s stock in a transaction that occurred 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 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 SEC filing for this sale provides additional information. Over the last three months, insiders have sold 88,677 shares of company stock valued at $31,304,091. 5.19% of the stock is owned by corporate insiders.

Corpay Stock Up 1.7%

CPAY opened at $370.83 on Friday. The firm has a 50-day simple moving average of $350.52 and a two-hundred day simple moving average of $333.65. Corpay, Inc has a 52 week low of $252.84 and a 52 week high of $374.09. The company has a market capitalization of $24.24 billion, a PE ratio of 22.19, a price-to-earnings-growth ratio of 0.99 and a beta of 0.88. The company has a quick ratio of 0.98, a current 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) earnings per share for the quarter. Corpay had a net margin of 24.60% and a return on equity of 38.68%. The firm had revenue of $5.63 million for the quarter. Analysts forecast that Corpay, Inc will post 25.49 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

CPAY has been the subject of several research analyst reports. Oppenheimer reiterated an “outperform” rating and set a $388.00 target price on shares of Corpay in a research report on Friday, May 8th. Weiss Ratings raised Corpay from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, April 27th. Wolfe Research restated an “outperform” rating and issued a $450.00 price target on shares of Corpay in a research note on Wednesday, June 3rd. Loop Capital started coverage on Corpay in a research note on Monday, May 18th. They issued a “buy” rating and a $406.00 price target for the company. Finally, Robert W. Baird cut their price objective on shares of Corpay from $440.00 to $380.00 and set an “outperform” rating for the company in a report on Tuesday, March 31st. Twelve analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $382.54.

Corpay Company 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.