Pictet Asset Management Holding SA Sells 9,009 Shares of Corpay, Inc $CPAY

Pictet Asset Management Holding SA lowered its position in Corpay, Inc (NYSE:CPAY) by 24.8% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 27,373 shares of the corporate payments company’s stock after selling 9,009 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Corpay were worth $7,965,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. MV Capital Management Inc. purchased a new stake in Corpay during the fourth quarter valued at about $25,000. Leonteq Securities AG purchased a new stake in shares of Corpay during the 4th quarter valued at approximately $27,000. BOKF NA boosted its holdings in Corpay by 4,700.0% in the 3rd quarter. BOKF NA now owns 96 shares of the corporate payments company’s stock worth $28,000 after buying an additional 94 shares during the period. Torren Management LLC purchased a new position in Corpay in the 4th quarter valued at approximately $29,000. Finally, DV Equities LLC bought a new stake in Corpay during the 4th quarter valued at $30,000. 98.84% of the stock is currently owned by institutional investors.

Corpay Trading Down 0.1%

Shares of CPAY stock opened at $352.24 on Friday. The company has a debt-to-equity ratio of 1.86, a quick ratio of 0.98 and a current ratio of 0.98. Corpay, Inc has a 52-week low of $252.84 and a 52-week high of $367.43. The company has a market capitalization of $23.02 billion, a PE ratio of 21.08, a price-to-earnings-growth ratio of 0.96 and a beta of 0.88. The business’s fifty day moving average is $345.80 and its 200 day moving average is $327.38.

Corpay (NYSE:CPAY) last posted its quarterly earnings data on Thursday, May 14th. The corporate payments company reported ($0.01) earnings per share (EPS) for the quarter. Corpay had a net margin of 24.60% and a return on equity of 38.68%. The business had revenue of $5.63 million for the quarter. On average, equities research analysts anticipate that Corpay, Inc will post 25.49 EPS for the current fiscal year.

Insider Activity

In other news, Director Steven T. Stull sold 1,000 shares of the business’s stock in a transaction dated Tuesday, June 2nd. The stock was 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 of the company’s stock, valued at approximately $10,188,787.98. The trade was a 3.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through 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 transaction of $24,816,713.88. Following the completion of the transaction, the insider owned 11,274 shares in the company, 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. In the last ninety days, insiders sold 88,677 shares of company stock worth $31,304,091. Insiders own 5.19% of the company’s stock.

Analysts Set New Price Targets

CPAY has been the subject of a number of analyst reports. Weiss Ratings raised Corpay from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, April 27th. Oppenheimer reiterated an “outperform” rating and set a $388.00 price target on shares of Corpay in a research report on Friday, May 8th. Morgan Stanley reissued an “overweight” rating and issued a $400.00 price target on shares of Corpay in a report on Sunday, May 10th. Wall Street Zen upgraded shares of Corpay from a “hold” rating to a “buy” rating in a research report on Monday, March 23rd. Finally, Robert W. Baird reduced their price objective on shares of Corpay from $440.00 to $380.00 and set an “outperform” rating for the company in a research note on Tuesday, March 31st. Thirteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, Corpay has an average rating of “Moderate Buy” and an average price target of $383.07.

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.