Principal Financial Group Inc. Buys 2,491 Shares of Corpay, Inc $CPAY

Principal Financial Group Inc. raised its stake in Corpay, Inc (NYSE:CPAY) by 3.2% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 81,142 shares of the corporate payments company’s stock after purchasing an additional 2,491 shares during the quarter. Principal Financial Group Inc. owned approximately 0.12% of Corpay worth $23,612,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Orbis Allan Gray Ltd raised its stake in shares of Corpay by 20.8% during 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 purchasing an additional 859,854 shares in the last quarter. JPMorgan Chase & Co. grew its stake 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 buying an additional 307,355 shares in the last quarter. State Street Corp increased its holdings in Corpay by 0.8% during the third quarter. State Street Corp now owns 2,956,744 shares of the corporate payments company’s stock worth $851,720,000 after buying an additional 23,470 shares during the last quarter. Geode Capital Management LLC increased its holdings in Corpay by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 1,905,526 shares of the corporate payments company’s stock worth $571,346,000 after buying an additional 19,281 shares during the last quarter. Finally, Invesco Ltd. raised its position in Corpay by 0.5% during 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 in the last quarter. 98.84% of the stock is currently owned by institutional investors.

Insider Transactions at Corpay

In related news, insider Armando Lins Netto sold 70,476 shares of the company’s 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 transaction, the insider owned 11,274 shares in the company, valued at approximately $3,969,913.62. This represents a 86.21% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Steven T. Stull sold 1,000 shares of the company’s stock in a transaction dated 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 in the company, valued at approximately $10,188,787.98. This trade represents a 3.42% decrease in their position. 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 valued at $31,304,091. 5.19% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on CPAY. Loop Capital started coverage on shares of Corpay in a research note on Monday, May 18th. They issued a “buy” rating and a $406.00 price target for the company. Weiss Ratings upgraded shares of Corpay from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, April 27th. Robert W. Baird dropped their target price on shares of Corpay from $440.00 to $380.00 and set an “outperform” rating on the stock in a report on Tuesday, March 31st. Morgan Stanley reiterated an “overweight” rating and issued a $400.00 target price on shares of Corpay in a research note on Sunday, May 10th. Finally, Wall Street Zen upgraded Corpay from a “hold” rating to a “buy” rating in a report on Monday, March 23rd. Twelve equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $382.54.

Corpay Stock Up 0.8%

CPAY opened at $368.87 on Tuesday. The stock’s fifty day simple moving average is $349.53 and its 200 day simple moving average is $332.61. Corpay, Inc has a 1-year low of $252.84 and a 1-year high of $374.09. The stock has a market cap of $24.11 billion, a PE ratio of 22.07, a price-to-earnings-growth ratio of 1.00 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 released its quarterly earnings data on Thursday, May 14th. The corporate payments company reported ($0.01) EPS for the quarter. Corpay had a return on equity of 38.68% and a net margin of 24.60%.The company had revenue of $5.63 million for the quarter. As a group, research analysts expect that Corpay, Inc will post 25.49 earnings per share for the current year.

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.