Pictet Asset Management Holding SA Sells 9,009 Shares of Corpay, Inc $CPAY

Pictet Asset Management Holding SA lowered its holdings in shares of Corpay, Inc (NYSE:CPAY) by 24.8% in the 1st quarter, HoldingsChannel reports. The firm 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 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in CPAY. Orbis Allan Gray Ltd boosted 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 worth $1,501,029,000 after buying an additional 859,854 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of Corpay by 6.9% during the 4th quarter. JPMorgan Chase & Co. now owns 4,734,927 shares of the corporate payments company’s stock worth $1,424,882,000 after buying an additional 307,355 shares during the period. State Street Corp grew its position in shares of Corpay by 0.8% during the 3rd quarter. State Street Corp now owns 2,956,744 shares of the corporate payments company’s stock worth $851,720,000 after buying an additional 23,470 shares during the period. Geode Capital Management LLC increased its stake in shares of Corpay by 1.0% in the 4th quarter. Geode Capital Management LLC now owns 1,905,526 shares of the corporate payments company’s stock valued at $571,346,000 after acquiring an additional 19,281 shares in the last quarter. Finally, Invesco Ltd. lifted its position in shares of Corpay by 0.5% during the 4th quarter. Invesco Ltd. now owns 1,751,048 shares of the corporate payments company’s stock valued at $526,943,000 after acquiring an additional 8,783 shares during the period. 98.84% of the stock is currently owned by institutional investors.

Corpay Price Performance

Shares of NYSE:CPAY opened at $352.24 on Friday. Corpay, Inc has a twelve month low of $252.84 and a twelve month high of $367.43. The stock’s 50 day moving average is $345.80 and its 200-day moving average is $327.38. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 1.86. The firm has a market capitalization of $23.02 billion, a price-to-earnings ratio of 21.08, a PEG ratio of 0.96 and a beta of 0.88.

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

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CPAY. Wolfe Research reissued an “outperform” rating and set a $450.00 target price on shares of Corpay in a research note on Wednesday, June 3rd. Morgan Stanley reaffirmed an “overweight” rating and issued a $400.00 price target on shares of Corpay in a research note on Sunday, May 10th. Weiss Ratings upgraded shares of Corpay from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, April 27th. Loop Capital began coverage on shares of Corpay in a research report on Monday, May 18th. They set a “buy” rating and a $406.00 price objective on the stock. Finally, Wall Street Zen upgraded Corpay from a “hold” rating to a “buy” rating in a research note on Monday, March 23rd. Thirteen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $383.07.

Insiders Place Their Bets

In other news, Director Steven T. Stull sold 1,000 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at $10,188,787.98. The trade was a 3.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Armando Lins Netto sold 70,476 shares of the company’s stock in a transaction dated 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 completion of 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 position. The disclosure for this sale is available in the SEC filing. Insiders sold 88,677 shares of company stock worth $31,304,091 over the last ninety days. Insiders own 5.19% of the company’s stock.

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.