The Manufacturers Life Insurance Company Cuts Stake in Corpay, Inc $CPAY

The Manufacturers Life Insurance Company cut its holdings in Corpay, Inc (NYSE:CPAY) by 7.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 36,662 shares of the corporate payments company’s stock after selling 2,971 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.06% of Corpay worth $10,668,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the business. Integrated Wealth Concepts LLC purchased a new stake in shares of Corpay in the 1st quarter worth approximately $207,000. Woodline Partners LP raised its stake in Corpay by 39.3% in the first quarter. Woodline Partners LP now owns 5,890 shares of the corporate payments company’s stock worth $2,054,000 after buying an additional 1,661 shares in the last quarter. Intech Investment Management LLC raised its stake in Corpay by 30.4% in the first quarter. Intech Investment Management LLC now owns 3,341 shares of the corporate payments company’s stock worth $1,165,000 after buying an additional 778 shares in the last quarter. Marshall Wace LLP lifted its holdings in Corpay by 128.6% during the second quarter. Marshall Wace LLP now owns 1,600 shares of the corporate payments company’s stock worth $531,000 after buying an additional 900 shares during the period. Finally, Brown Advisory Inc. boosted its position in Corpay by 16.0% during the 2nd quarter. Brown Advisory Inc. now owns 1,670 shares of the corporate payments company’s stock valued at $554,000 after acquiring an additional 230 shares in the last quarter. Hedge funds and other institutional investors own 98.84% of the company’s stock.

Corpay Stock Performance

Shares of CPAY stock opened at $385.73 on Tuesday. Corpay, Inc has a 12-month low of $252.84 and a 12-month high of $395.49. The business’s fifty day simple moving average is $354.35 and its 200-day simple moving average is $337.03. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 1.86. The company has a market cap of $25.21 billion, a PE ratio of 23.08, a PEG ratio of 1.04 and a beta of 0.88.

Corpay (NYSE:CPAY) last posted its quarterly earnings data 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. Analysts expect that Corpay, Inc will post 25.48 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Steven T. Stull sold 1,000 shares of the business’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $360.78, for a total transaction of $360,780.00. Following the sale, the director owned 28,241 shares in the company, valued at approximately $10,188,787.98. The trade was a 3.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Armando Lins Netto sold 70,476 shares of the business’s stock in a transaction dated 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 sale, the insider owned 11,274 shares in the company, valued at $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. In the last three months, insiders sold 88,677 shares of company stock valued at $31,304,091. Corporate insiders own 5.19% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on CPAY shares. Wolfe Research reissued an “outperform” rating and issued a $450.00 price target on shares of Corpay in a research report on Wednesday, June 3rd. Oppenheimer reiterated an “outperform” rating and issued a $388.00 target price on shares of Corpay in a research note on Friday, May 8th. Loop Capital started coverage on shares of Corpay in a report on Monday, May 18th. They issued a “buy” rating and a $406.00 target price for the company. Weiss Ratings reissued a “buy (b-)” rating on shares of Corpay in a research report on Friday, July 24th. Finally, Morgan Stanley raised their price target on shares of Corpay from $400.00 to $415.00 and gave the company an “overweight” rating in a report on Tuesday, July 28th. Twelve analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $383.69.

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.