Corpay, Inc $CPAY Holdings Lifted by New York Life Investment Management LLC

New York Life Investment Management LLC lifted its stake in shares of Corpay, Inc (NYSE:CPAY) by 49.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,644 shares of the corporate payments company’s stock after acquiring an additional 4,863 shares during the period. New York Life Investment Management LLC’s holdings in Corpay were worth $5,517,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. AlphaCore Capital LLC lifted its position 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 in the last quarter. Retirement Systems of Alabama increased its holdings in Corpay by 57.9% during the 3rd 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 in the last quarter. Fulcrum Asset Management LLP increased its holdings in Corpay by 121.0% during the 3rd 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 in the last quarter. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of Corpay in the 3rd quarter valued at about $325,000. Finally, Brighton Jones LLC raised its stake in shares of Corpay by 118.0% in the 3rd 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 period. Institutional investors own 98.84% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Weiss Ratings upgraded Corpay from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, October 8th. Scotiabank upped their price objective on Corpay from $536.00 to $539.00 and gave the stock a “sector outperform” rating in a research report on Thursday, November 5th. Oppenheimer increased their price objective on Corpay from $454.00 to $461.00 and gave the stock an “outperform” rating in a report on Thursday, November 5th. Morgan Stanley lifted their target price on Corpay from $455.00 to $460.00 and gave the company an “overweight” rating in a research report on Wednesday, October 28th. Finally, Keefe, Bruyette & Woods upped their price target on Corpay from $470.00 to $525.00 and gave the stock an “outperform” rating in a research report on Thursday, November 5th. Eleven equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $474.38.

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 market cap of $29.13 billion, a P/E ratio of 25.05, a P/E/G ratio of 1.05 and a beta of 0.94. 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 stock’s 50-day simple moving average is $409.04 and its 200 day simple moving average is $362.46.

Corpay (NYSE:CPAY) last posted its quarterly earnings results on Wednesday, November 4th. The corporate payments company reported $7.54 earnings per share 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 return on equity of 46.94% and a net margin of 23.73%. The business’s revenue was up 17.9% compared to the same quarter last year. During the same period last year, the company earned $5.70 earnings per share. As a group, sell-side analysts forecast that Corpay, Inc will post 26.52 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Ronald Clarke sold 119,486 shares of the stock in a transaction that occurred on Tuesday, August 25th. The stock was 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 represents a 4.83% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Steven Stull sold 2,357 shares of the stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $413.62, for a total value of $974,902.34. Following the completion of the sale, the director directly owned 21,241 shares of the company’s stock, valued at approximately $8,785,702.42. The trade was a 9.99% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 220,860 shares of company stock worth $91,395,514. Company 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.