Sumitomo Mitsui Trust Group Inc. Cuts Stock Holdings in Corpay, Inc $CPAY

Sumitomo Mitsui Trust Group Inc. trimmed its stake in Corpay, Inc (NYSE:CPAY) by 6.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 138,782 shares of the corporate payments company’s stock after selling 9,459 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.20% of Corpay worth $40,384,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. boosted its stake in Corpay by 168,603.9% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,489,655 shares of the corporate payments company’s stock valued at $448,282,000 after acquiring an additional 1,488,772 shares in the last quarter. M&T Bank Corp increased its position in shares of Corpay by 4,657.7% during the fourth quarter. M&T Bank Corp now owns 1,044,074 shares of the corporate payments company’s stock worth $314,193,000 after purchasing an additional 1,022,129 shares in the last quarter. Norges Bank purchased a new stake in shares of Corpay during the 4th quarter valued at $266,190,000. Orbis Allan Gray Ltd lifted its holdings in shares of Corpay by 20.8% during the 4th quarter. Orbis Allan Gray Ltd now owns 4,987,968 shares of the corporate payments company’s stock valued at $1,501,029,000 after purchasing an additional 859,854 shares during the last quarter. Finally, Spruce House Investment Management LLC boosted its position in shares of Corpay by 95.3% in the 4th quarter. Spruce House Investment Management LLC now owns 830,000 shares of the corporate payments company’s stock worth $249,772,000 after purchasing an additional 405,000 shares in the last quarter. Institutional investors own 98.84% of the company’s stock.

Insiders Place Their Bets

In other news, insider Armando Lins Netto sold 70,476 shares of the 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 sale, the insider owned 11,274 shares in the company, valued at $3,969,913.62. This represents a 86.21% 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, Director Steven T. Stull sold 1,000 shares of the firm’s stock in a transaction 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 transaction, 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 88,677 shares of company stock worth $31,304,091 in the last quarter. Company insiders own 5.19% of the company’s stock.

Corpay Trading Up 0.1%

Corpay stock opened at $353.86 on Monday. The stock has a 50-day moving average price of $348.23 and a 200 day moving average price of $330.31. The company has a market capitalization of $23.13 billion, a price-to-earnings ratio of 21.18, a price-to-earnings-growth ratio of 0.97 and a beta of 0.88. Corpay, Inc has a 52 week low of $252.84 and a 52 week high of $367.43. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 1.86.

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

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CPAY. Oppenheimer reaffirmed an “outperform” rating and set a $388.00 target price on shares of Corpay in a research report on Friday, May 8th. Loop Capital started coverage on Corpay in a research note on Monday, May 18th. They set a “buy” rating and a $406.00 price target on the stock. Wall Street Zen upgraded shares of Corpay from a “hold” rating to a “buy” rating in a report on Monday, March 23rd. Weiss Ratings raised shares of Corpay from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, April 27th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $400.00 target price on shares of Corpay in a research note on Sunday, May 10th. Thirteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $383.07.

Corpay Company 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.