Corpay, Inc $CPAY Stake Boosted by AlphaCore Capital LLC

AlphaCore Capital LLC boosted its stake in shares of Corpay, Inc (NYSE:CPAY) by 162.6% in the third quarter, Holdings Channel reports. The institutional investor owned 1,896 shares of the corporate payments company’s stock after purchasing an additional 1,174 shares during the period. AlphaCore Capital LLC’s holdings in Corpay were worth $708,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Empowered Funds LLC boosted its position in Corpay by 141.3% in the first quarter. Empowered Funds LLC now owns 5,490 shares of the corporate payments company’s stock worth $1,598,000 after purchasing an additional 3,215 shares during the last quarter. National Pension Service raised its holdings in Corpay by 49.8% during the 2nd quarter. National Pension Service now owns 8,711 shares of the corporate payments company’s stock valued at $2,903,000 after buying an additional 2,894 shares during the period. Nykredit A S purchased a new stake in shares of Corpay in the second quarter worth approximately $7,473,000. Citizens Financial Group Inc. RI raised its holdings in shares of Corpay by 1,373.1% in the third quarter. Citizens Financial Group Inc. RI now owns 15,350 shares of the corporate payments company’s stock valued at $5,521,000 after acquiring an additional 14,308 shares in the last quarter. Finally, Inscription Capital LLC lifted its stake in Corpay by 392.7% in the third quarter. Inscription Capital LLC now owns 4,612 shares of the corporate payments company’s stock worth $1,656,000 after acquiring an additional 3,676 shares during the period. Institutional investors own 98.84% of the company’s stock.

Corpay Price Performance

Shares of Corpay stock opened at $462.17 on Friday. Corpay, Inc has a 12 month low of $271.22 and a 12 month high of $479.53. The company has a debt-to-equity ratio of 1.82, a current ratio of 0.95 and a quick ratio of 0.95. The stock has a market capitalization of $29.56 billion, a P/E ratio of 25.42, a PEG ratio of 0.94 and a beta of 0.94. The business has a 50 day simple moving average of $409.88 and a two-hundred day simple moving average of $363.03.

Corpay (NYSE:CPAY) last issued its quarterly earnings results on Wednesday, November 4th. The corporate payments company reported $7.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.20 by $0.34. Corpay had a net margin of 23.73% and a return on equity of 46.94%. The business had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.36 billion. During the same quarter in the prior year, the company earned $5.70 earnings per share. The business’s quarterly revenue was up 17.9% on a year-over-year basis. As a group, analysts predict that Corpay, Inc will post 26.52 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Steven Stull sold 4,000 shares of the company’s stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $410.66, for a total value of $1,642,640.00. Following the completion of the sale, the director directly owned 23,598 shares of the company’s stock, valued at $9,690,754.68. This represents a 14.49% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Ronald Clarke sold 119,486 shares of the company’s stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $412.40, for a total value of $49,276,026.40. Following the sale, the chief executive officer directly owned 2,354,330 shares of the company’s stock, valued at approximately $970,925,692. This represents a 4.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 220,860 shares of company stock valued at $91,395,514 over the last ninety days. 5.19% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. Royal Bank Of Canada increased their target price on shares of Corpay from $438.00 to $474.00 and gave the stock a “sector perform” rating in a report on Thursday, November 5th. Raymond James Financial restated an “outperform” rating and set a $442.00 price objective on shares of Corpay in a report on Thursday, August 6th. 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. Keefe, Bruyette & Woods increased their price objective on shares of Corpay from $470.00 to $525.00 and gave the company an “outperform” rating in a research report on Thursday, November 5th. Finally, UBS Group lifted their target price on shares of Corpay from $415.00 to $465.00 and gave the stock a “neutral” rating in a research note on Thursday, November 5th. Eleven equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Corpay currently has an average rating of “Moderate Buy” and an average target price of $474.38.

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.