Corpay, Inc $CPAY Holdings Lessened by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. reduced its holdings in shares of Corpay, Inc (NYSE:CPAY) by 3.7% in the third quarter, Holdings Channel reports. The institutional investor owned 139,411 shares of the corporate payments company’s stock after selling 5,361 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Corpay were worth $54,175,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of CPAY. VELA Investment Management LLC grew its position in Corpay by 0.4% during the second quarter. VELA Investment Management LLC now owns 5,782 shares of the corporate payments company’s stock valued at $1,927,000 after buying an additional 25 shares during the period. Choreo LLC grew its position in shares of Corpay by 1.7% during the 3rd quarter. Choreo LLC now owns 1,765 shares of the corporate payments company’s stock valued at $686,000 after acquiring an additional 29 shares during the period. Kendall Capital Management grew its position in shares of Corpay by 0.9% during the 3rd quarter. Kendall Capital Management now owns 4,460 shares of the corporate payments company’s stock valued at $1,733,000 after acquiring an additional 40 shares during the period. Sequoia Financial Advisors LLC increased its stake in shares of Corpay by 1.0% during the 1st quarter. Sequoia Financial Advisors LLC now owns 4,043 shares of the corporate payments company’s stock worth $1,176,000 after purchasing an additional 41 shares during the last quarter. Finally, Greenleaf Trust increased its stake in shares of Corpay by 3.2% during the 2nd quarter. Greenleaf Trust now owns 1,356 shares of the corporate payments company’s stock worth $452,000 after purchasing an additional 42 shares during the last quarter. Hedge funds and other institutional investors own 98.84% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Ronald Clarke sold 119,486 shares of the stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $412.40, for a total value of $49,276,026.40. Following the transaction, the chief executive officer owned 2,354,330 shares of the company’s stock, valued at $970,925,692. This represents a 4.83% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Steven Stull sold 4,000 shares of the firm’s stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $410.66, for a total transaction of $1,642,640.00. Following the sale, the director owned 23,598 shares in the company, valued at approximately $9,690,754.68. This trade represents a 14.49% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 220,860 shares of company stock worth $91,395,514 in the last three months. Insiders own 5.19% of the company’s stock.

Corpay Trading Down 0.7%

Shares of CPAY opened at $406.37 on Wednesday. The firm’s 50 day simple moving average is $403.08 and its 200 day simple moving average is $358.71. The company has a market capitalization of $26.68 billion, a P/E ratio of 24.73, a P/E/G ratio of 1.12 and a beta of 0.94. The company has a debt-to-equity ratio of 1.70, a current ratio of 0.97 and a quick ratio of 0.97. Corpay, Inc has a 1-year low of $256.38 and a 1-year high of $427.46.

Corpay (NYSE:CPAY) last announced its earnings results on Wednesday, August 5th. The corporate payments company reported $7.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.58 by $0.42. Corpay had a net margin of 22.72% and a return on equity of 42.18%. The business had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.30 billion. During the same period in the previous year, the business posted $5.13 earnings per share. Corpay’s revenue for the quarter was up 21.5% on a year-over-year basis. Sell-side analysts forecast that Corpay, Inc will post 25.81 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

CPAY has been the subject of several research reports. Weiss Ratings raised Corpay from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, October 8th. Keefe, Bruyette & Woods boosted their target price on Corpay from $400.00 to $470.00 and gave the company an “outperform” rating in a research note on Thursday, August 6th. Wall Street Zen cut Corpay from a “buy” rating to a “hold” rating in a research report on Saturday, October 24th. UBS Group increased their price target on Corpay from $385.00 to $415.00 and gave the stock a “neutral” rating in a research note on Thursday, August 6th. Finally, Royal Bank Of Canada lifted their price objective on Corpay from $423.00 to $438.00 and gave the stock a “sector perform” rating in a report on Monday, August 31st. Eleven research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $450.00.

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.

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