Corpay, Inc $CPAY Position Increased by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. boosted its position in shares of Corpay, Inc (NYSE:CPAY) by 26.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,449 shares of the corporate payments company’s stock after purchasing an additional 1,963 shares during the period. PNC Financial Services Group Inc.’s holdings in Corpay were worth $2,750,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. raised its stake in shares of Corpay by 168,603.9% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,489,655 shares of the corporate payments company’s stock worth $448,282,000 after purchasing an additional 1,488,772 shares in the last quarter. M&T Bank Corp increased its holdings in Corpay by 4,657.7% in the fourth quarter. M&T Bank Corp now owns 1,044,074 shares of the corporate payments company’s stock worth $314,193,000 after buying an additional 1,022,129 shares during the last quarter. Norges Bank acquired a new position in Corpay in the fourth quarter worth approximately $266,190,000. Orbis Allan Gray Ltd raised its position in Corpay by 20.8% during the fourth quarter. Orbis Allan Gray Ltd now owns 4,987,968 shares of the corporate payments company’s stock valued at $1,501,029,000 after acquiring an additional 859,854 shares in the last quarter. Finally, Spruce House Investment Management LLC raised its position in Corpay by 95.3% during the fourth quarter. Spruce House Investment Management LLC now owns 830,000 shares of the corporate payments company’s stock valued at $249,772,000 after acquiring an additional 405,000 shares in the last quarter. Hedge funds and other institutional investors own 98.84% of the company’s stock.

Insider Activity

In other Corpay news, Director Steven T. Stull sold 1,000 shares of Corpay stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $360.78, for a total value of $360,780.00. Following the transaction, the director directly owned 28,241 shares of the company’s stock, valued at $10,188,787.98. The trade was a 3.42% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Armando Lins Netto sold 70,476 shares of the company’s stock in a transaction that occurred on Monday, June 15th. The stock was 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 of the company’s stock, valued at approximately $3,969,913.62. This trade represents a 86.21% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 88,677 shares of company stock valued at $31,304,091 in the last three months. 5.19% of the stock is owned by insiders.

Wall Street Analyst Weigh In

CPAY has been the subject of several recent research reports. Wolfe Research reissued an “outperform” rating and issued a $450.00 target price on shares of Corpay in a research report on Wednesday, June 3rd. Weiss Ratings restated a “buy (b-)” rating on shares of Corpay in a report on Friday. Oppenheimer reaffirmed an “outperform” rating and issued a $388.00 price objective on shares of Corpay in a research note on Friday, May 8th. Robert W. Baird decreased 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. Finally, Morgan Stanley increased their target price on shares of Corpay from $400.00 to $415.00 and gave the stock an “overweight” rating in a research report on Tuesday. Twelve equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $383.69.

Corpay Stock Performance

Shares of CPAY opened at $384.54 on Wednesday. The company has a market capitalization of $25.13 billion, a PE ratio of 23.01, a price-to-earnings-growth ratio of 1.03 and a beta of 0.88. The company has a debt-to-equity ratio of 1.86, a current ratio of 0.98 and a quick ratio of 0.98. Corpay, Inc has a one year low of $252.84 and a one year high of $389.25. The company’s fifty day moving average price is $351.77 and its 200 day moving average price is $334.78.

Corpay (NYSE:CPAY) last released its quarterly earnings results on Thursday, May 14th. The corporate payments company reported ($0.01) earnings per share (EPS) for the quarter. The firm had revenue of $5.63 million for the quarter. Corpay had a net margin of 24.60% and a return on equity of 38.68%. As a group, analysts expect that Corpay, Inc will post 25.49 earnings per share for the current year.

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.

Corpay operates as part of the broader financial technology and payment processing sector.