Corpay, Inc $CPAY Stock: New York Life Investment Management LLC Raises Holdings

New York Life Investment Management LLC increased its holdings in shares of Corpay, Inc (NYSE:CPAY) by 49.7% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 14,644 shares of the corporate payments company’s stock after purchasing an additional 4,863 shares during the period. New York Life Investment Management LLC’s holdings in Corpay were worth $5,517,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. AlphaCore Capital LLC raised its stake in Corpay by 162.6% in the 3rd quarter. AlphaCore Capital LLC now owns 1,896 shares of the corporate payments company’s stock valued at $708,000 after acquiring an additional 1,174 shares during the period. Retirement Systems of Alabama boosted its position in Corpay by 57.9% during the third quarter. Retirement Systems of Alabama now owns 21,677 shares of the corporate payments company’s stock worth $8,159,000 after purchasing an additional 7,946 shares during the period. Fulcrum Asset Management LLP boosted its position in Corpay by 121.0% during the third quarter. Fulcrum Asset Management LLP now owns 1,810 shares of the corporate payments company’s stock worth $682,000 after purchasing an additional 991 shares during the period. University of Texas Texas AM Investment Management Co. bought a new position in Corpay during the third quarter worth $325,000. Finally, Brighton Jones LLC increased its holdings in shares of Corpay by 118.0% in the third quarter. Brighton Jones LLC now owns 5,139 shares of the corporate payments company’s stock valued at $1,898,000 after purchasing an additional 2,782 shares during the last quarter. Institutional investors own 98.84% of the company’s stock.

Insider Activity at Corpay

In related news, Director Steven T. Stull sold 4,000 shares of the business’s stock in a transaction that occurred on 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 in the company, valued at approximately $9,690,754.68. The trade was a 14.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Ronald Clarke sold 119,486 shares of the business’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 completion of the sale, the chief executive officer owned 2,354,330 shares of the company’s stock, valued at approximately $970,925,692. This trade represents a 4.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 220,860 shares of company stock worth $91,395,514 over the last ninety days. Insiders own 5.19% of the company’s stock.

Corpay Price Performance

NYSE:CPAY opened at $455.35 on Friday. Corpay, Inc has a 52 week low of $271.22 and a 52 week high of $479.53. The company has a debt-to-equity ratio of 1.82, a quick ratio of 0.95 and a current ratio of 0.95. The firm’s 50-day simple moving average is $409.04 and its 200 day simple moving average is $362.46. The firm has a market cap of $29.13 billion, a price-to-earnings ratio of 25.05, a P/E/G ratio of 1.05 and a beta of 0.94.

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

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Robert W. Baird set a $475.00 price objective on shares of Corpay in a research report on Thursday, August 6th. UBS Group upped their price target on shares of Corpay from $415.00 to $465.00 and gave the company a “neutral” rating in a research note on Thursday, November 5th. Royal Bank Of Canada increased their price target on shares of Corpay from $438.00 to $474.00 and gave the company a “sector perform” rating in a report on Thursday, November 5th. Scotiabank increased their price target on shares of Corpay from $536.00 to $539.00 and gave the company a “sector outperform” rating in a report on Thursday, November 5th. Finally, Cantor Fitzgerald raised their price objective on shares of Corpay from $480.00 to $550.00 and gave the stock an “overweight” rating in a research report on Monday. Eleven analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $474.38.

Corpay 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.