Brighton Jones LLC raised its position in Corpay, Inc (NYSE:CPAY – Free Report) by 118.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,139 shares of the corporate payments company’s stock after acquiring an additional 2,782 shares during the quarter. Brighton Jones LLC’s holdings in Corpay were worth $1,898,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in the company. Spruce House Investment Management LLC grew its holdings in Corpay by 6.0% during the first quarter. Spruce House Investment Management LLC now owns 880,000 shares of the corporate payments company’s stock worth $256,071,000 after purchasing an additional 50,000 shares during the period. Dimensional Fund Advisors LP raised its stake in Corpay by 3.1% in the first quarter. Dimensional Fund Advisors LP now owns 782,500 shares of the corporate payments company’s stock valued at $227,695,000 after buying an additional 23,646 shares during the period. Hawk Ridge Capital Management LP raised its stake in Corpay by 20.5% in the first quarter. Hawk Ridge Capital Management LP now owns 532,180 shares of the corporate payments company’s stock valued at $154,859,000 after buying an additional 90,360 shares during the period. Bank of New York Mellon Corp acquired a new stake in shares of Corpay in the second quarter valued at approximately $107,805,000. Finally, Bank of America Corp DE lifted its position in shares of Corpay by 0.6% in the first quarter. Bank of America Corp DE now owns 364,102 shares of the corporate payments company’s stock valued at $105,950,000 after buying an additional 2,131 shares during the last quarter. Institutional investors and hedge funds own 98.84% of the company’s stock.
Analysts Set New Price Targets
A number of research analysts recently weighed in on the company. Oppenheimer boosted their target price on Corpay from $454.00 to $461.00 and gave the stock an “outperform” rating in a report on Thursday, November 5th. Raymond James Financial reaffirmed an “outperform” rating and set a $442.00 price objective on shares of Corpay in a research report on Thursday, August 6th. Robert W. Baird set a $475.00 price objective on shares of Corpay in a research report on Thursday, August 6th. Cantor Fitzgerald upped their price objective on shares of Corpay from $480.00 to $550.00 and gave the company an “overweight” rating in a report on Monday. Finally, Wolfe Research increased their price objective on shares of Corpay from $475.00 to $530.00 and gave the company an “outperform” rating in a research report on Tuesday, August 25th. Eleven analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $474.38.
View Our Latest Stock Report on CPAY
Insider Transactions at Corpay
In related news, Director Steven T. Stull sold 2,357 shares of the firm’s stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $413.62, for a total transaction of $974,902.34. Following the transaction, the director directly owned 21,241 shares of the company’s stock, valued at approximately $8,785,702.42. This trade represents a 9.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Ronald Clarke sold 119,486 shares of Corpay stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $412.40, for a total transaction of $49,276,026.40. Following the completion of the sale, the chief executive officer owned 2,354,330 shares of the company’s stock, valued at $970,925,692. This trade represents a 4.83% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 220,860 shares of company stock valued at $91,395,514. 5.19% of the stock is currently owned by company insiders.
Corpay Trading Up 0.6%
Shares of NYSE:CPAY opened at $458.02 on Tuesday. Corpay, Inc has a 12-month low of $271.22 and a 12-month high of $479.53. The stock has a market cap of $30.07 billion, a PE ratio of 25.19, a P/E/G ratio of 1.15 and a beta of 0.94. The business has a 50 day moving average of $406.03 and a 200-day moving average of $360.71. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.70.
Corpay (NYSE:CPAY – Get Free Report) last announced its earnings results on Wednesday, November 4th. The corporate payments company reported $7.54 earnings per share for the quarter, topping analysts’ consensus estimates of $7.20 by $0.34. The company had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.36 billion. Corpay had a return on equity of 45.84% and a net margin of 23.73%. The firm’s quarterly revenue was up 17.9% compared to the same quarter last year. During the same quarter last year, the company earned $5.70 earnings per share. As a group, equities research analysts forecast that Corpay, Inc will post 25.81 earnings per share for the current year.
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.
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