Corpay Announces Agreement to Sell Non-Core Vehicle Payments Asset
Corpay, Inc. (CPAY)
Company Research
Source: Business Wire
Transaction Signals Continued Rotation to Corporate Payments ATLANTA--(BUSINESS WIRE)--Corpay, Inc. (NYSE: CPAY), the corporate payments company, announced that it has signed a definitive agreement to sell PayByPhone, a mobile parking payments business, to Lightyear Capital.“We’ve agreed to terms to divest our PayByPhone business, and hope that PBP will prosper under Lightyear’s ownership,” said Ron Clarke, Chairman and CEO of Corpay. “The transaction is another step to simplify our portfolio, and speed our rotation to more corporate payments.”The transaction is not expected to have a material impact on Corpay’s 2026 Cash EPS outlook. Additional information on the financial impact of the sale will be provided during the company’s fourth quarter earnings call later today.The transaction is expected to close in the second quarter of 2026.Deutsche Bank acted as financial advisor to Corpay, and Jones Day acted as legal counsel to Corpay.About CorpayCorpay (NYSE: CPAY), the Corporate Pa
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CPAY
News
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- Corpay (NYSE:CPAY) had its price target raised by analysts at Cantor Fitzgerald from $385.00 to $415.00. They now have an "overweight" rating on the stock.MarketBeat
- Corpay (NYSE:CPAY) had its price target raised by analysts at Mizuho from $320.00 to $340.00. They now have a "neutral" rating on the stock.MarketBeat
- Corpay, Inc. (CPAY): A Bull Case Theory [Yahoo! Finance]Yahoo! Finance
- Corpay (NYSE:CPAY) had its price target raised by analysts at JPMorgan Chase & Co. from $350.00 to $390.00. They now have an "overweight" rating on the stock.MarketBeat
CPAY
Earnings
- 2/4/26 - Beat
CPAY
Sec Filings
- 2/5/26 - Form 8-K/A
- 2/4/26 - Form 8-K
- 1/27/26 - Form 4
- CPAY's page on the SEC website