Corpay, Inc $CPAY Shares Bought by Ethic Inc.

Ethic Inc. grew its stake in shares of Corpay, Inc (NYSE:CPAY) by 32.9% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,075 shares of the corporate payments company’s stock after acquiring an additional 1,503 shares during the period. Ethic Inc.’s holdings in Corpay were worth $2,260,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. Axiom Investment Management LLC purchased a new position in Corpay in the first quarter valued at about $27,000. Burkett Financial Services LLC acquired a new position in Corpay in the 3rd quarter worth about $30,000. Strive Financial Group LLC acquired a new position in Corpay in the 2nd quarter worth about $35,000. Western Wealth Management LLC purchased a new stake in shares of Corpay during the 1st quarter worth about $36,000. Finally, CoreCap Advisors LLC raised its stake in shares of Corpay by 1,246.2% during the 2nd quarter. CoreCap Advisors LLC now owns 175 shares of the corporate payments company’s stock worth $58,000 after purchasing an additional 162 shares in the last quarter. 98.84% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Corpay

In other Corpay news, Director Steven Stull sold 4,000 shares of Corpay stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $410.66, for a total value of $1,642,640.00. Following the transaction, the director directly owned 23,598 shares of the company’s stock, valued at $9,690,754.68. The trade was a 14.49% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Ronald Clarke sold 119,486 shares of the company’s stock in a transaction that occurred on Tuesday, August 25th. The stock was 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 approximately $970,925,692. This trade represents a 4.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 220,860 shares of company stock worth $91,395,514. Company insiders own 5.19% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on CPAY shares. Wolfe Research increased their price objective on Corpay from $475.00 to $530.00 and gave the stock an “outperform” rating in a report on Tuesday, August 25th. JPMorgan Chase & Co. lifted their target price on shares of Corpay from $470.00 to $500.00 and gave the company an “overweight” rating in a research note on Thursday, November 5th. Raymond James Financial reissued an “outperform” rating and issued a $442.00 target price on shares of Corpay in a research report on Thursday, August 6th. Wall Street Zen downgraded shares of Corpay from a “buy” rating to a “hold” rating in a research report on Saturday, October 24th. Finally, Keefe, Bruyette & Woods increased their price target on shares of Corpay from $470.00 to $525.00 and gave the stock an “outperform” rating in a research note on Thursday, November 5th. Eleven equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $474.38.

Corpay Trading Up 0.6%

NYSE:CPAY opened at $462.24 on Thursday. The company’s 50 day moving average is $408.28 and its 200-day moving average is $361.93. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 1.82. Corpay, Inc has a 12 month low of $271.22 and a 12 month high of $479.53. The firm has a market cap of $29.57 billion, a price-to-earnings ratio of 25.43, a P/E/G ratio of 1.04 and a beta of 0.94.

Corpay (NYSE:CPAY) last posted its quarterly earnings data on Wednesday, November 4th. The corporate payments company reported $7.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.20 by $0.34. The business had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.36 billion. Corpay had a net margin of 23.73% and a return on equity of 46.94%. Corpay’s quarterly revenue was up 17.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $5.70 EPS. Equities analysts anticipate that Corpay, Inc will post 26.52 EPS 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.