Fifth Third Bancorp Raises Position in Corpay, Inc $CPAY

Fifth Third Bancorp increased its stake in Corpay, Inc (NYSE:CPAY) by 860.4% during the first quarter, HoldingsChannel reports. The firm owned 27,352 shares of the corporate payments company’s stock after acquiring an additional 24,504 shares during the period. Fifth Third Bancorp’s holdings in Corpay were worth $7,959,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also bought and sold shares of CPAY. MV Capital Management Inc. purchased a new stake in Corpay in the fourth quarter worth $25,000. Leonteq Securities AG purchased a new position in shares of Corpay during the 4th quarter valued at $27,000. BOKF NA grew its stake in shares of Corpay by 4,700.0% during the 3rd quarter. BOKF NA now owns 96 shares of the corporate payments company’s stock worth $28,000 after acquiring an additional 94 shares during the period. Torren Management LLC bought a new position in shares of Corpay during the 4th quarter worth $29,000. Finally, DV Equities LLC purchased a new stake in Corpay in the 4th quarter worth about $30,000. Hedge funds and other institutional investors own 98.84% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on CPAY shares. Wall Street Zen upgraded Corpay from a “hold” rating to a “buy” rating in a research note on Monday, March 23rd. Robert W. Baird cut their target price on shares of Corpay from $440.00 to $380.00 and set an “outperform” rating for the company in a research report on Tuesday, March 31st. Weiss Ratings upgraded shares of Corpay from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, April 27th. Wolfe Research reissued an “outperform” rating and issued a $450.00 price target on shares of Corpay in a research report on Wednesday, June 3rd. Finally, Oppenheimer restated an “outperform” rating and set a $388.00 price target on shares of Corpay in a research note on Friday, May 8th. Thirteen 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 stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $383.07.

Corpay Stock Performance

NYSE:CPAY opened at $363.51 on Thursday. The business’s fifty day moving average is $348.93 and its 200 day moving average is $331.42. The firm has a market cap of $23.76 billion, a price-to-earnings ratio of 21.75, a PEG ratio of 0.98 and a beta of 0.88. The company has a debt-to-equity ratio of 1.86, a quick ratio of 0.98 and a current ratio of 0.98. Corpay, Inc has a 52-week low of $252.84 and a 52-week high of $371.59.

Corpay (NYSE:CPAY) last issued its earnings results on Thursday, May 14th. The corporate payments company reported ($0.01) EPS for the quarter. The company 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%. Research analysts predict that Corpay, Inc will post 25.49 EPS for the current year.

Insider Transactions at Corpay

In other news, insider Armando Lins Netto sold 70,476 shares of the stock in a transaction dated 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 sale, 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 SEC, which can be accessed through the SEC website. 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 transaction of $360,780.00. Following the completion of the transaction, the director owned 28,241 shares of the company’s stock, valued at $10,188,787.98. This trade represents a 3.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 88,677 shares of company stock worth $31,304,091. Insiders own 5.19% of the company’s stock.

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.