Assenagon Asset Management S.A. Cuts Position in Corpay, Inc $CPAY

Assenagon Asset Management S.A. reduced its stake in Corpay, Inc (NYSE:CPAY) by 92.5% during the first quarter, HoldingsChannel reports. The fund owned 9,046 shares of the corporate payments company’s stock after selling 110,997 shares during the period. Assenagon Asset Management S.A.’s holdings in Corpay were worth $2,632,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. CENTRAL TRUST Co boosted its stake in Corpay by 194.8% in the 1st quarter. CENTRAL TRUST Co now owns 227 shares of the corporate payments company’s stock worth $66,000 after purchasing an additional 150 shares in the last quarter. SG Americas Securities LLC increased its stake in Corpay by 211.2% during the 1st quarter. SG Americas Securities LLC now owns 75,549 shares of the corporate payments company’s stock valued at $21,984,000 after purchasing an additional 51,273 shares in the last quarter. Evolve Private Wealth LLC increased its stake in Corpay by 38.6% during the 1st quarter. Evolve Private Wealth LLC now owns 1,306 shares of the corporate payments company’s stock valued at $380,000 after purchasing an additional 364 shares in the last quarter. E. Ohman J or Asset Management AB raised its holdings in Corpay by 174.7% in the first quarter. E. Ohman J or Asset Management AB now owns 1,882 shares of the corporate payments company’s stock worth $548,000 after buying an additional 1,197 shares during the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S boosted its stake in Corpay by 52.8% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 6,030 shares of the corporate payments company’s stock valued at $1,755,000 after purchasing an additional 2,084 shares during the last quarter. Hedge funds and other institutional investors own 98.84% of the company’s stock.

Insider Buying and Selling

In related news, Director Steven T. Stull sold 1,000 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $360.78, for a total value 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 represents a 3.42% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Armando Lins Netto sold 70,476 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $352.13, for a total transaction of $24,816,713.88. Following the sale, the insider owned 11,274 shares in the company, valued at approximately $3,969,913.62. The trade was a 86.21% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 88,677 shares of company stock valued at $31,304,091. 5.19% of the stock is currently owned by corporate insiders.

Corpay Price Performance

NYSE CPAY opened at $333.13 on Wednesday. The company has a market capitalization of $21.77 billion, a PE ratio of 19.94, a price-to-earnings-growth ratio of 0.92 and a beta of 0.86. The company has a debt-to-equity ratio of 1.86, a quick ratio of 0.98 and a current ratio of 0.98. The business’s fifty day moving average is $341.42 and its 200 day moving average is $326.05. Corpay, Inc has a fifty-two week low of $252.84 and a fifty-two week high of $367.43.

Corpay (NYSE:CPAY) last released its quarterly earnings results on Thursday, May 14th. The corporate payments company reported ($0.01) earnings per share (EPS) for the quarter. The company had revenue of $5.63 million for the quarter. Corpay had a net margin of 24.60% and a return on equity of 38.68%. Sell-side analysts predict that Corpay, Inc will post 25.49 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms recently commented on CPAY. Raymond James Financial reiterated an “outperform” rating and issued a $361.00 price objective on shares of Corpay in a report on Thursday, March 5th. Weiss Ratings upgraded shares of Corpay from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, April 27th. Wall Street Zen upgraded shares of Corpay from a “hold” rating to a “buy” rating in a research note on Monday, March 23rd. Morgan Stanley reissued an “overweight” rating and set a $400.00 price objective on shares of Corpay in a report on Sunday, May 10th. Finally, Loop Capital began coverage on Corpay in a report on Monday, May 18th. They set a “buy” rating and a $406.00 price target on the stock. Thirteen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, Corpay presently has a consensus rating of “Moderate Buy” and a consensus target price of $383.07.

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.