Corpay, Inc $CPAY Shares Sold by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund cut its stake in shares of Corpay, Inc (NYSE:CPAY) by 36.3% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 4,509 shares of the corporate payments company’s stock after selling 2,565 shares during the period. Illinois Municipal Retirement Fund’s holdings in Corpay were worth $1,312,000 at the end of the most recent quarter.

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

Corpay Trading Down 0.9%

CPAY opened at $366.07 on Wednesday. The company has a debt-to-equity ratio of 1.86, a current ratio of 0.98 and a quick ratio of 0.98. The company’s 50 day simple moving average is $349.71 and its two-hundred day simple moving average is $332.92. Corpay, Inc has a 1-year low of $252.84 and a 1-year high of $374.09. The firm has a market capitalization of $23.93 billion, a price-to-earnings ratio of 21.91, a price-to-earnings-growth ratio of 1.01 and a beta of 0.88.

Corpay (NYSE:CPAY) last posted its quarterly earnings results 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 company had revenue of $5.63 million during the quarter. Analysts expect that Corpay, Inc will post 25.49 EPS for the current fiscal year.

Insiders Place Their Bets

In other Corpay news, insider Armando Lins Netto sold 70,476 shares of the firm’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $352.13, for a total value of $24,816,713.88. Following the completion of the sale, the insider directly owned 11,274 shares of the company’s stock, valued at $3,969,913.62. This trade represents a 86.21% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Steven T. Stull sold 1,000 shares of Corpay stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $360.78, for a total value of $360,780.00. Following the transaction, the director owned 28,241 shares in the company, valued at approximately $10,188,787.98. This represents a 3.42% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 88,677 shares of company stock worth $31,304,091 in the last three months. 5.19% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

CPAY has been the topic of several research reports. Morgan Stanley restated an “overweight” rating and issued a $400.00 target price on shares of Corpay in a research report on Sunday, May 10th. Loop Capital began coverage on Corpay in a research note on Monday, May 18th. They issued a “buy” rating and a $406.00 price objective for the company. Robert W. Baird decreased their price objective on Corpay from $440.00 to $380.00 and set an “outperform” rating on the stock in a report on Tuesday, March 31st. Weiss Ratings raised shares of Corpay from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, April 27th. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $388.00 target price on shares of Corpay in a report on Friday, May 8th. Twelve investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $382.54.

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.