Pictet Asset Management Holding SA Has $7.96 Million Holdings in Corpay, Inc $CPAY

Pictet Asset Management Holding SA trimmed its position in Corpay, Inc (NYSE:CPAY) by 24.8% in the first quarter, according to its most recent filing with the SEC. The fund owned 27,373 shares of the corporate payments company’s stock after selling 9,009 shares during the period. Pictet Asset Management Holding SA’s holdings in Corpay were worth $7,965,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of CPAY. Sterling Capital Management LLC increased its holdings in Corpay by 524.5% in the 1st quarter. Sterling Capital Management LLC now owns 3,035 shares of the corporate payments company’s stock worth $883,000 after purchasing an additional 2,549 shares in the last quarter. GHP Investment Advisors Inc. boosted its stake in shares of Corpay by 15.7% during the first quarter. GHP Investment Advisors Inc. now owns 15,030 shares of the corporate payments company’s stock valued at $4,374,000 after purchasing an additional 2,040 shares in the last quarter. OLD National Bancorp IN bought a new stake in shares of Corpay during the first quarter worth about $221,000. Louisiana State Employees Retirement System bought a new stake in shares of Corpay during the first quarter worth about $1,048,000. Finally, OP Asset Management Ltd acquired a new position in shares of Corpay in the first quarter valued at approximately $2,016,000. Institutional investors and hedge funds own 98.84% of the company’s stock.

Corpay Price Performance

Shares of CPAY opened at $352.24 on Friday. Corpay, Inc has a 1 year low of $252.84 and a 1 year high of $367.43. 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 has a market capitalization of $23.02 billion, a price-to-earnings ratio of 21.08, a price-to-earnings-growth ratio of 0.96 and a beta of 0.88. The business has a 50-day moving average of $345.80 and a 200-day moving average of $327.38.

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

Insider Buying and Selling

In other news, Director Steven T. Stull sold 1,000 shares of the stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $360.78, for a total transaction of $360,780.00. Following the completion of the sale, the director directly owned 28,241 shares in the company, valued at $10,188,787.98. This represents a 3.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Armando Lins Netto sold 70,476 shares of Corpay stock in a transaction 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 transaction, the insider directly owned 11,274 shares of the company’s stock, valued at $3,969,913.62. This represents a 86.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 88,677 shares of company stock worth $31,304,091 in the last 90 days. Corporate insiders own 5.19% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on CPAY shares. Wall Street Zen upgraded shares of Corpay from a “hold” rating to a “buy” rating in a report on Monday, March 23rd. Wolfe Research reissued an “outperform” rating and set a $450.00 target price on shares of Corpay in a report on Wednesday, June 3rd. Loop Capital assumed coverage on shares of Corpay in a research report on Monday, May 18th. They issued a “buy” rating and a $406.00 price target for the company. Morgan Stanley reaffirmed an “overweight” rating and set a $400.00 price target on shares of Corpay in a research note on Sunday, May 10th. Finally, Robert W. Baird cut their price target on shares of Corpay from $440.00 to $380.00 and set an “outperform” rating on the stock in a report on Tuesday, March 31st. Thirteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target 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.