The Manufacturers Life Insurance Company Trims Stock Holdings in Corpay, Inc $CPAY

The Manufacturers Life Insurance Company lowered its position in shares of Corpay, Inc (NYSE:CPAY) by 7.5% in the first quarter, according to the company in its most recent filing with the 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’s holdings in Corpay were worth $10,668,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in CPAY. HB Wealth Management LLC increased its holdings in shares of Corpay by 1.9% in the fourth quarter. HB Wealth Management LLC now owns 1,741 shares of the corporate payments company’s stock valued at $524,000 after purchasing an additional 33 shares during the period. KBC Group NV lifted its holdings in shares of Corpay by 0.4% during the fourth quarter. KBC Group NV now owns 9,318 shares of the corporate payments company’s stock worth $2,804,000 after purchasing an additional 36 shares during the period. Northwestern Mutual Wealth Management Co. boosted its position in Corpay by 4.4% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 883 shares of the corporate payments company’s stock valued at $254,000 after buying an additional 37 shares during the last quarter. Harbour Investments Inc. boosted its position in Corpay by 35.5% in the fourth quarter. Harbour Investments Inc. now owns 149 shares of the corporate payments company’s stock valued at $45,000 after buying an additional 39 shares during the last quarter. Finally, Thrivent Financial for Lutherans increased its holdings in Corpay by 1.4% in the 2nd quarter. Thrivent Financial for Lutherans now owns 2,771 shares of the corporate payments company’s stock worth $919,000 after buying an additional 39 shares during the period. Hedge funds and other institutional investors own 98.84% of the company’s stock.

Insider Transactions at Corpay

In related news, Director Steven T. Stull sold 1,000 shares of the company’s 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 owned 28,241 shares of the company’s stock, valued at approximately $10,188,787.98. This represents a 3.42% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Armando Lins Netto sold 70,476 shares of the 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 transaction, the insider owned 11,274 shares in the company, 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. In the last quarter, insiders sold 88,677 shares of company stock valued at $31,304,091. Insiders own 5.19% of the company’s stock.

Analysts Set New Price Targets

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

Corpay Price Performance

NYSE:CPAY opened at $385.73 on Tuesday. 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 firm has a market cap of $25.21 billion, a price-to-earnings ratio of 23.08, a price-to-earnings-growth ratio of 1.04 and a beta of 0.88. The company has a 50 day moving average price of $354.35 and a 200-day moving average price of $337.03. Corpay, Inc has a 1-year low of $252.84 and a 1-year high of $395.49.

Corpay (NYSE:CPAY) last posted its earnings results on Thursday, May 14th. The corporate payments company reported ($0.01) earnings per share (EPS) for the quarter. Corpay had a net margin of 24.60% and a return on equity of 38.68%. The firm had revenue of $5.63 million during the quarter. Equities research analysts forecast that Corpay, Inc will post 25.48 EPS for the current year.

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.