Illinois Municipal Retirement Fund Sells 2,565 Shares of Corpay, Inc $CPAY

Illinois Municipal Retirement Fund decreased its position in shares of Corpay, Inc (NYSE:CPAY) by 36.3% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,509 shares of the corporate payments company’s stock after selling 2,565 shares during the period. Illinois Municipal Retirement Fund’s holdings in Corpay were worth $1,312,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Orbis Allan Gray Ltd raised its stake in Corpay by 20.8% in 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 acquiring an additional 859,854 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Corpay by 6.9% during the fourth quarter. JPMorgan Chase & Co. now owns 4,734,927 shares of the corporate payments company’s stock worth $1,424,882,000 after purchasing an additional 307,355 shares during the period. State Street Corp boosted its position in Corpay by 0.8% in the third quarter. State Street Corp now owns 2,956,744 shares of the corporate payments company’s stock valued at $851,720,000 after buying an additional 23,470 shares during the last quarter. Geode Capital Management LLC increased its holdings in 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 worth $571,346,000 after buying an additional 19,281 shares during the period. Finally, Invesco Ltd. raised its position in Corpay by 0.5% during the 4th quarter. Invesco Ltd. now owns 1,751,048 shares of the corporate payments company’s stock worth $526,943,000 after buying an additional 8,783 shares during the last quarter. 98.84% of the stock is currently owned by institutional investors and hedge funds.

Corpay Trading Down 0.9%

Corpay stock opened at $366.07 on Wednesday. The firm has a market cap of $23.93 billion, a PE ratio of 21.91, a P/E/G ratio of 1.01 and a beta of 0.88. Corpay, Inc has a 12 month low of $252.84 and a 12 month high of $374.09. The stock’s 50 day simple moving average is $349.71 and its two-hundred day simple moving average is $332.92. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 1.86.

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. Analysts anticipate that Corpay, Inc will post 25.49 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Steven T. Stull sold 1,000 shares of the firm’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 directly owned 28,241 shares in the company, valued at $10,188,787.98. This trade represents a 3.42% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Armando Lins Netto sold 70,476 shares of the firm’s stock in a transaction dated Monday, June 15th. The shares were 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. This trade represents a 86.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 88,677 shares of company stock valued at $31,304,091 in the last ninety days. 5.19% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Oppenheimer restated an “outperform” rating and set a $388.00 price objective on shares of Corpay in a research note on Friday, May 8th. Wolfe Research reissued an “outperform” rating and set a $450.00 target price on shares of Corpay in a report on Wednesday, June 3rd. Robert W. Baird decreased their target price on shares of Corpay from $440.00 to $380.00 and set an “outperform” rating for the company in a research report on Tuesday, March 31st. Weiss Ratings raised shares of Corpay from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, April 27th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $400.00 price target on shares of Corpay in a research report on Sunday, May 10th. Twelve research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $382.54.

Corpay Company 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.