Truist Financial Corp Cuts Position in Corpay, Inc. $CPAY

Truist Financial Corp trimmed its position in shares of Corpay, Inc. (NYSE:CPAY) by 19.1% during the fourth quarter, Holdings Channel reports. The institutional investor owned 6,419 shares of the company’s stock after selling 1,512 shares during the quarter. Truist Financial Corp’s holdings in Corpay were worth $1,932,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Corpay by 0.7% during the third quarter. Vanguard Group Inc. now owns 8,182,672 shares of the company’s stock worth $2,357,100,000 after buying an additional 58,235 shares during the period. Orbis Allan Gray Ltd increased its stake in shares of Corpay by 3.3% during the second quarter. Orbis Allan Gray Ltd now owns 3,855,589 shares of the company’s stock worth $1,279,362,000 after buying an additional 124,368 shares during the period. State Street Corp increased its stake in shares of Corpay by 0.8% during the third quarter. State Street Corp now owns 2,956,744 shares of the company’s stock worth $851,720,000 after buying an additional 23,470 shares during the period. M&T Bank Corp increased its stake in shares of Corpay by 4,657.7% during the fourth quarter. M&T Bank Corp now owns 1,044,074 shares of the company’s stock worth $314,193,000 after buying an additional 1,022,129 shares during the period. Finally, Wellington Management Group LLP increased its stake in shares of Corpay by 54.9% during the third quarter. Wellington Management Group LLP now owns 631,496 shares of the company’s stock worth $181,909,000 after buying an additional 223,704 shares during the period. 98.84% of the stock is currently owned by hedge funds and other institutional investors.

Corpay Stock Performance

Shares of Corpay stock opened at $330.92 on Thursday. The firm has a market capitalization of $21.63 billion, a P/E ratio of 19.80, a P/E/G ratio of 0.95 and a beta of 0.81. Corpay, Inc. has a 52 week low of $252.84 and a 52 week high of $361.99. 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’s 50 day moving average is $311.53 and its two-hundred day moving average is $309.56.

Corpay (NYSE:CPAY) last announced its quarterly earnings results on Thursday, May 7th. The company reported $5.80 EPS for the quarter, beating the consensus estimate of $5.50 by $0.30. The company had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.21 billion. Corpay had a net margin of 24.60% and a return on equity of 38.68%. The firm’s revenue was up 25.4% on a year-over-year basis. During the same period in the prior year, the firm posted $4.51 earnings per share. Corpay has set its FY 2026 guidance at 26.300-27.100 EPS and its Q2 2026 guidance at 6.450-6.650 EPS. Research analysts forecast that Corpay, Inc. will post 24.76 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Raymond James Financial restated an “outperform” rating and set a $361.00 target price on shares of Corpay in a research note on Thursday, March 5th. Scotiabank upgraded shares of Corpay to a “sector outperform” rating in a research note on Monday, January 26th. Robert W. Baird dropped their price target on shares of Corpay from $440.00 to $380.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 31st. Royal Bank Of Canada increased their price target on shares of Corpay from $344.00 to $363.00 and gave the company a “sector perform” rating in a research note on Thursday, February 5th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $400.00 price target on shares of Corpay in a research note on Sunday. Eleven investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $375.58.

About Corpay

Corpay (NYSE:CPAY) is a global payments and fintech company that provides businesses with tools to manage, move and optimize corporate spend. The company focuses on commercial payments, foreign exchange and cross-border transactions, aiming to simplify treasury operations and reduce friction in business-to-business payments through technology-driven solutions.

Its product offering includes payment processing and accounts payable automation, corporate and virtual card programs, expense management tools, and foreign-exchange hedging and execution services for international payments.