Hsbc Holdings PLC Lowers Position in Corpay, Inc $CPAY

Hsbc Holdings PLC lessened its stake in shares of Corpay, Inc (NYSE:CPAYFree Report) by 12.0% in the 1st quarter, HoldingsChannel.com reports. The firm owned 116,306 shares of the corporate payments company’s stock after selling 15,842 shares during the period. Hsbc Holdings PLC’s holdings in Corpay were worth $33,873,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. MV Capital Management Inc. bought a new position in shares of Corpay in the fourth quarter worth about $25,000. Leonteq Securities AG purchased a new stake in Corpay in the 4th quarter worth approximately $27,000. BOKF NA increased 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 acquiring an additional 94 shares in the last quarter. Torren Management LLC bought a new stake in Corpay during the 4th quarter worth approximately $29,000. Finally, DV Equities LLC bought a new stake in Corpay during the 4th quarter worth approximately $30,000. Hedge funds and other institutional investors own 98.84% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on CPAY. Wolfe Research reiterated an “outperform” rating and issued a $450.00 price target on shares of Corpay in a research report on Wednesday, June 3rd. Morgan Stanley reaffirmed an “overweight” rating and issued a $400.00 target price on shares of Corpay in a report on Sunday, May 10th. Robert W. Baird lowered their target price on Corpay from $440.00 to $380.00 and set an “outperform” rating for the company in a research report on Tuesday, March 31st. Wall Street Zen raised shares of Corpay from a “hold” rating to a “buy” rating in a report on Monday, March 23rd. Finally, Loop Capital started coverage on shares of Corpay in a research report on Monday, May 18th. They issued a “buy” rating and a $406.00 price target on the stock. Twelve investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $382.54.

Check Out Our Latest Analysis on CPAY

Insider Activity at Corpay

In related news, Director Steven T. Stull sold 1,000 shares of the firm’s stock in a transaction that occurred on 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 sale, the director directly owned 28,241 shares of the company’s stock, valued at approximately $10,188,787.98. This trade represents a 3.42% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Armando Lins Netto sold 70,476 shares of the business’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $352.13, for a total value of $24,816,713.88. Following the transaction, the insider owned 11,274 shares of the company’s stock, valued at approximately $3,969,913.62. The trade was a 86.21% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 88,677 shares of company stock valued at $31,304,091 in the last 90 days. Company insiders own 5.19% of the company’s stock.

Corpay Price Performance

CPAY stock opened at $368.87 on Tuesday. Corpay, Inc has a 12 month low of $252.84 and a 12 month high of $374.09. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 1.86. The company has a 50-day moving average price of $349.53 and a 200 day moving average price of $332.61. The stock has a market cap of $24.11 billion, a PE ratio of 22.07, a P/E/G ratio of 1.00 and a beta of 0.88.

Corpay (NYSE:CPAYGet Free Report) last issued its quarterly earnings results on Thursday, May 14th. The corporate payments company reported ($0.01) EPS for the quarter. Corpay had a net margin of 24.60% and a return on equity of 38.68%. The firm had revenue of $5.63 million for the quarter. Equities research analysts anticipate that Corpay, Inc will post 25.49 earnings per share for the current year.

Corpay Profile

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding CPAY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Corpay, Inc (NYSE:CPAYFree Report).

Institutional Ownership by Quarter for Corpay (NYSE:CPAY)

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