Royal Bank of Canada Reduces Position in Corpay, Inc $CPAY

Royal Bank of Canada trimmed its holdings in Corpay, Inc (NYSE:CPAY) by 28.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 88,020 shares of the corporate payments company’s stock after selling 34,653 shares during the quarter. Royal Bank of Canada owned about 0.13% of Corpay worth $25,613,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Integrated Wealth Concepts LLC purchased a new stake in shares of Corpay in the first quarter valued at approximately $207,000. Woodline Partners LP boosted its stake in Corpay by 39.3% during the first quarter. Woodline Partners LP now owns 5,890 shares of the corporate payments company’s stock worth $2,054,000 after buying an additional 1,661 shares during the last quarter. Intech Investment Management LLC boosted its stake in Corpay by 30.4% during the first quarter. Intech Investment Management LLC now owns 3,341 shares of the corporate payments company’s stock worth $1,165,000 after buying an additional 778 shares during the last quarter. Marshall Wace LLP grew its holdings in Corpay by 128.6% in the 2nd quarter. Marshall Wace LLP now owns 1,600 shares of the corporate payments company’s stock valued at $531,000 after buying an additional 900 shares in the last quarter. Finally, Brown Advisory Inc. increased its stake in shares of Corpay by 16.0% in the 2nd quarter. Brown Advisory Inc. now owns 1,670 shares of the corporate payments company’s stock worth $554,000 after acquiring an additional 230 shares during the last quarter. 98.84% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CPAY has been the subject of a number of analyst reports. Weiss Ratings reissued a “buy (b-)” rating on shares of Corpay in a report on Friday, July 24th. Loop Capital started coverage on shares of Corpay in a research note on Monday, May 18th. They issued a “buy” rating and a $406.00 price target for the company. Morgan Stanley lifted their price target on shares of Corpay from $400.00 to $415.00 and gave the company an “overweight” rating in a research report on Tuesday, July 28th. Wolfe Research reiterated an “outperform” rating and issued a $450.00 price objective on shares of Corpay in a research report on Wednesday, June 3rd. Finally, Oppenheimer reissued an “outperform” rating and set a $388.00 target price on shares of Corpay in a research note on Friday, May 8th. Twelve research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $383.69.

Insider Transactions at Corpay

In other Corpay news, Director Steven T. Stull sold 1,000 shares of the business’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $360.78, for a total transaction of $360,780.00. Following the sale, the director directly owned 28,241 shares in the company, valued at $10,188,787.98. This represents a 3.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Armando Lins Netto sold 70,476 shares of the stock in a transaction dated 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 sale, the insider directly owned 11,274 shares in the company, valued at $3,969,913.62. This represents a 86.21% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 88,677 shares of company stock valued at $31,304,091 over the last 90 days. 5.19% of the stock is currently owned by company insiders.

Corpay Stock Up 3.0%

Corpay stock opened at $397.24 on Wednesday. The company has a debt-to-equity ratio of 1.86, a quick ratio of 0.98 and a current ratio of 0.98. The firm has a 50 day moving average price of $355.38 and a 200 day moving average price of $337.35. Corpay, Inc has a fifty-two week low of $252.84 and a fifty-two week high of $398.34. The company has a market capitalization of $25.96 billion, a PE ratio of 23.77, a price-to-earnings-growth ratio of 1.05 and a beta of 0.87.

Corpay (NYSE:CPAY) last released its quarterly earnings results on Thursday, May 14th. The corporate payments company reported ($0.01) EPS for the quarter. Corpay had a return on equity of 38.68% and a net margin of 24.60%.The firm had revenue of $5.63 million for the quarter. Research analysts expect that Corpay, Inc will post 25.48 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.