Bank of New York Mellon Corp Sells 8,074 Shares of Corpay, Inc $CPAY

Bank of New York Mellon Corp lowered its stake in Corpay, Inc (NYSE:CPAY) by 2.3% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 343,074 shares of the corporate payments company’s stock after selling 8,074 shares during the quarter. Bank of New York Mellon Corp owned about 0.50% of Corpay worth $99,831,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in CPAY. Generate Investment Management Ltd increased its stake in shares of Corpay by 60.0% in the 4th quarter. Generate Investment Management Ltd now owns 120,000 shares of the corporate payments company’s stock valued at $36,112,000 after purchasing an additional 45,000 shares during the last quarter. Pensionfund Sabic bought a new stake in shares of Corpay during the 4th quarter worth $1,113,000. Louisiana State Employees Retirement System bought a new stake in shares of Corpay during the 1st quarter worth $1,048,000. Moran Wealth Management LLC boosted its stake in Corpay by 77.9% in the first quarter. Moran Wealth Management LLC now owns 37,869 shares of the corporate payments company’s stock valued at $11,020,000 after buying an additional 16,586 shares in the last quarter. Finally, M&T Bank Corp boosted its stake in Corpay by 4,657.7% in the fourth quarter. M&T Bank Corp now owns 1,044,074 shares of the corporate payments company’s stock valued at $314,193,000 after buying an additional 1,022,129 shares in the last quarter. 98.84% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently commented on CPAY. Robert W. Baird dropped their price target on Corpay from $440.00 to $380.00 and set an “outperform” rating for the company in a research note on Tuesday, March 31st. Loop Capital assumed coverage on Corpay in a research report on Monday, May 18th. They issued a “buy” rating and a $406.00 target price for the company. Oppenheimer reissued an “outperform” rating and set a $388.00 price target on shares of Corpay in a research note on Friday, May 8th. Wolfe Research restated an “outperform” rating and set a $450.00 price target on shares of Corpay in a report on Wednesday, June 3rd. Finally, Weiss Ratings raised Corpay from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, April 27th. Twelve investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $382.54.

Insider Transactions at Corpay

In other news, Director Steven T. Stull sold 1,000 shares of Corpay stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $360.78, for a total value of $360,780.00. Following the completion of 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. The transaction was disclosed in a legal filing with the SEC, which is accessible 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 value of $24,816,713.88. Following the sale, 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. 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. Company insiders own 5.19% of the company’s stock.

Corpay Price Performance

Shares of CPAY opened at $368.87 on Tuesday. The business has a 50-day moving average of $349.53 and a 200-day moving average of $332.61. 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 $24.11 billion, a price-to-earnings ratio of 22.07, a price-to-earnings-growth ratio of 1.00 and a beta of 0.88. Corpay, Inc has a 1 year low of $252.84 and a 1 year high of $374.09.

Corpay (NYSE:CPAY) last released its earnings results on Thursday, May 14th. The corporate payments company reported ($0.01) earnings per share for the quarter. The firm 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%. As a group, equities research analysts anticipate that Corpay, Inc will post 25.49 earnings per share 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.

Corpay operates as part of the broader financial technology and payment processing sector.