Redwood Investment Management LLC Invests $1.04 Million in Corpay, Inc $CPAY

Redwood Investment Management LLC purchased a new position in shares of Corpay, Inc (NYSE:CPAY) in the first quarter, Holdings Channel.com reports. The institutional investor purchased 3,563 shares of the corporate payments company’s stock, valued at approximately $1,037,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of CPAY. Northwestern Mutual Wealth Management Co. boosted its holdings in Corpay by 168,603.9% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,489,655 shares of the corporate payments company’s stock valued at $448,282,000 after acquiring an additional 1,488,772 shares during the period. M&T Bank Corp increased 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 worth $314,193,000 after purchasing an additional 1,022,129 shares during the period. Norges Bank bought a new stake in shares of Corpay during the fourth quarter worth $266,190,000. Orbis Allan Gray Ltd lifted its position in shares of Corpay by 20.8% during the fourth 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 boosted its stake in shares of Corpay by 95.3% during the fourth 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 during the period. 98.84% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently commented on CPAY. Weiss Ratings restated a “buy (b-)” rating on shares of Corpay in a report on Friday, July 24th. Morgan Stanley lifted 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, July 28th. Wolfe Research reissued an “outperform” rating and issued a $450.00 price objective on shares of Corpay in a research report on Wednesday, June 3rd. Oppenheimer restated an “outperform” rating and issued a $388.00 target price on shares of Corpay in a research note on Friday, May 8th. Finally, Loop Capital started coverage on shares of Corpay in a research report on Monday, May 18th. They set a “buy” rating and a $406.00 target price on the stock. Twelve research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $383.69.

Insider Activity

In other news, insider Armando Lins Netto sold 70,476 shares of the business’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 completion of 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 document filed with the SEC, which can be accessed through this hyperlink. Also, Director Steven T. Stull sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was 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 position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 88,677 shares of company stock worth $31,304,091. 5.19% of the stock is owned by company insiders.

Corpay Price Performance

Shares of CPAY stock opened at $385.73 on Tuesday. Corpay, Inc has a twelve month low of $252.84 and a twelve month high of $395.49. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 1.86. The stock has a fifty day simple moving average of $354.35 and a two-hundred day simple moving average of $337.03. The stock has a market capitalization of $25.21 billion, a price-to-earnings ratio of 23.08, a P/E/G ratio of 1.04 and a beta of 0.88.

Corpay (NYSE:CPAY) last announced its quarterly earnings results on Thursday, May 14th. The corporate payments company reported ($0.01) EPS 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%. On average, analysts predict that Corpay, Inc will post 25.48 EPS for the current fiscal year.

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.