Bank of Nova Scotia Sells 1,394 Shares of Corpay, Inc $CPAY

Bank of Nova Scotia trimmed its position in shares of Corpay, Inc (NYSE:CPAY) by 17.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,755 shares of the corporate payments company’s stock after selling 1,394 shares during the period. Bank of Nova Scotia’s holdings in Corpay were worth $1,966,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of CPAY. Northwestern Mutual Wealth Management Co. raised its position in shares of Corpay by 168,603.9% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,489,655 shares of the corporate payments company’s stock worth $448,282,000 after acquiring an additional 1,488,772 shares in the last quarter. M&T Bank Corp boosted its stake in Corpay by 4,657.7% in the 4th quarter. M&T Bank Corp now owns 1,044,074 shares of the corporate payments company’s stock worth $314,193,000 after purchasing an additional 1,022,129 shares in the last quarter. Norges Bank purchased a new stake in Corpay during the 4th quarter worth approximately $266,190,000. Orbis Allan Gray Ltd grew its position in 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 purchasing an additional 859,854 shares during the last quarter. Finally, Spruce House Investment Management LLC increased its stake in Corpay by 95.3% during the 4th quarter. Spruce House Investment Management LLC now owns 830,000 shares of the corporate payments company’s stock valued at $249,772,000 after purchasing an additional 405,000 shares in the last quarter. 98.84% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Corpay Stock Up 2.0%

Corpay stock opened at $391.92 on Thursday. The business’s 50-day moving average price is $352.47 and its 200 day moving average price is $335.18. 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 cap of $25.62 billion, a price-to-earnings ratio of 23.45, a price-to-earnings-growth ratio of 1.04 and a beta of 0.88. Corpay, Inc has a 52 week low of $252.84 and a 52 week high of $395.49.

Corpay (NYSE:CPAY) last announced its quarterly earnings data on Thursday, May 14th. The corporate payments company reported ($0.01) earnings per share 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. As a group, sell-side analysts anticipate that Corpay, Inc will post 25.49 earnings per share for the current year.

Insider Activity

In related news, insider Armando Lins Netto sold 70,476 shares of the business’s stock in a transaction 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 owned 11,274 shares in the company, valued at approximately $3,969,913.62. The trade was a 86.21% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Steven T. Stull sold 1,000 shares of the firm’s stock in a transaction that occurred on 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 transaction, the director directly owned 28,241 shares of the company’s stock, valued at approximately $10,188,787.98. The trade was a 3.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 88,677 shares of company stock worth $31,304,091. 5.19% of the stock is owned by insiders.

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.