Spruce House Investment Management LLC Has $256.07 Million Position in Corpay, Inc $CPAY

Spruce House Investment Management LLC lifted its position in shares of Corpay, Inc (NYSE:CPAY) by 6.0% during the first quarter, Holdings Channel reports. The firm owned 880,000 shares of the corporate payments company’s stock after acquiring an additional 50,000 shares during the period. Corpay makes up 9.1% of Spruce House Investment Management LLC’s holdings, making the stock its 4th largest holding. Spruce House Investment Management LLC’s holdings in Corpay were worth $256,071,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. boosted its position in Corpay by 168,603.9% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,489,655 shares of the corporate payments company’s stock worth $448,282,000 after purchasing an additional 1,488,772 shares during the last quarter. M&T Bank Corp grew its position in Corpay by 4,657.7% during the fourth quarter. M&T Bank Corp now owns 1,044,074 shares of the corporate payments company’s stock valued at $314,193,000 after buying an additional 1,022,129 shares during the period. Norges Bank purchased a new stake in Corpay during the fourth quarter worth about $266,190,000. Orbis Allan Gray Ltd boosted its stake in Corpay by 20.8% in the fourth quarter. Orbis Allan Gray Ltd now owns 4,987,968 shares of the corporate payments company’s stock valued at $1,501,029,000 after acquiring an additional 859,854 shares during the last quarter. Finally, Hawk Ridge Capital Management LP purchased a new position in Corpay in the third quarter valued at about $106,381,000. 98.84% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently issued reports on CPAY. Oppenheimer restated an “outperform” rating and set a $388.00 price target on shares of Corpay in a research note on Friday, May 8th. Weiss Ratings restated a “buy (b-)” rating on shares of Corpay in a research note on Friday. Wolfe Research reissued an “outperform” rating and set a $450.00 price objective on shares of Corpay in a report on Wednesday, June 3rd. Morgan Stanley reaffirmed an “overweight” rating and set a $400.00 price objective on shares of Corpay in a research note on Sunday, May 10th. Finally, Loop Capital began coverage on shares of Corpay in a report on Monday, May 18th. They issued a “buy” rating and a $406.00 price target for the company. Twelve investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $382.54.

Corpay Stock Up 0.1%

Shares of CPAY opened at $370.83 on Monday. The company has a debt-to-equity ratio of 1.86, a current ratio of 0.98 and a quick ratio of 0.98. Corpay, Inc has a 1 year low of $252.84 and a 1 year high of $374.09. The stock has a 50 day simple moving average of $350.52 and a two-hundred day simple moving average of $333.88. The firm has a market cap of $24.24 billion, a P/E ratio of 22.19, a P/E/G ratio of 1.01 and a beta of 0.88.

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 company had revenue of $5.63 million during the quarter. On average, analysts forecast that Corpay, Inc will post 25.49 earnings per share for the current fiscal year.

Insider Activity at Corpay

In related news, insider Armando Lins Netto sold 70,476 shares of the business’s stock in a transaction that occurred on 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 transaction, the insider directly owned 11,274 shares in the company, valued at $3,969,913.62. The trade was a 86.21% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Steven T. Stull sold 1,000 shares of the company’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 value of $360,780.00. Following the completion of the transaction, 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 ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 88,677 shares of company stock worth $31,304,091 in the last 90 days. 5.19% of the stock is currently owned by company insiders.

Corpay 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.