Provident Investment Management Inc. Sells 7,843 Shares of Corpay, Inc. $CPAY

Provident Investment Management Inc. lowered its position in Corpay, Inc. (NYSE:CPAY) by 4.2% during the 4th quarter, Holdings Channel reports. The fund owned 180,391 shares of the company’s stock after selling 7,843 shares during the period. Corpay makes up 4.9% of Provident Investment Management Inc.’s portfolio, making the stock its 7th largest holding. Provident Investment Management Inc.’s holdings in Corpay were worth $54,285,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in CPAY. ABC Arbitrage SA acquired a new position in shares of Corpay during the fourth quarter worth approximately $226,000. Swiss Life Asset Management Ltd grew its position in Corpay by 339.9% in the 4th quarter. Swiss Life Asset Management Ltd now owns 28,062 shares of the company’s stock valued at $8,445,000 after purchasing an additional 21,683 shares during the period. NewEdge Wealth LLC bought a new stake in Corpay during the 4th quarter valued at $284,000. Sequoia Financial Advisors LLC increased its stake in Corpay by 167.7% during the 4th quarter. Sequoia Financial Advisors LLC now owns 4,002 shares of the company’s stock valued at $1,204,000 after purchasing an additional 2,507 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in Corpay by 6.2% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 147,471 shares of the company’s stock worth $44,328,000 after buying an additional 8,613 shares during the last quarter. Institutional investors and hedge funds own 98.84% of the company’s stock.

Corpay Trading Down 0.6%

Shares of CPAY stock opened at $341.89 on Tuesday. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 1.86. The firm has a market cap of $23.27 billion, a P/E ratio of 20.46, a PEG ratio of 0.97 and a beta of 0.81. The company has a 50 day moving average of $311.27 and a 200-day moving average of $308.83. Corpay, Inc. has a 12-month low of $252.84 and a 12-month high of $361.99.

Corpay (NYSE:CPAY) last posted its quarterly earnings data on Thursday, May 7th. The company reported $5.80 EPS for the quarter, beating the consensus estimate of $5.50 by $0.30. Corpay had a return on equity of 38.68% and a net margin of 24.60%.The business had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $1.21 billion. During the same quarter in the prior year, the business earned $4.51 earnings per share. Corpay’s revenue for the quarter was up 25.4% on a year-over-year basis. Corpay has set its FY 2026 guidance at 26.300-27.100 EPS and its Q2 2026 guidance at 6.450-6.650 EPS. Sell-side analysts anticipate that Corpay, Inc. will post 24.64 earnings per share for the current year.

Analysts Set New Price Targets

CPAY has been the topic of a number of recent research reports. Robert W. Baird dropped their price objective on shares of Corpay from $440.00 to $380.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 31st. Oppenheimer reissued an “outperform” rating and set a $388.00 target price on shares of Corpay in a research report on Friday. Weiss Ratings upgraded shares of Corpay from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, April 27th. Morgan Stanley reaffirmed an “overweight” rating and issued a $400.00 price target on shares of Corpay in a research report on Sunday. Finally, Scotiabank upgraded Corpay to a “sector outperform” rating in a research note on Monday, January 26th. Eleven research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $375.58.

Corpay Company Profile

Corpay (NYSE:CPAY) is a global payments and fintech company that provides businesses with tools to manage, move and optimize corporate spend. The company focuses on commercial payments, foreign exchange and cross-border transactions, aiming to simplify treasury operations and reduce friction in business-to-business payments through technology-driven solutions.

Its product offering includes payment processing and accounts payable automation, corporate and virtual card programs, expense management tools, and foreign-exchange hedging and execution services for international payments.