Corpay (CPAY) Slipped on Investors’ Concerns

Core Insights - Pelican Bay Capital Management (PBCM) reported a 7.8% return for its Concentrated Value Strategy in Q3 2025, outperforming the Russell 1000 Value Index which returned 5.3% during the same period [1] - Year-to-date, PBCM's fund returned 11.2%, slightly below the index's 11.6% return [1] Company Overview: Corpay, Inc. (NYSE:CPAY) - Corpay, Inc. is a payment company focused on managing vehicle-related expenses for businesses and consumers [2] - As of November 7, 2025, Corpay's stock closed at $276.53, with a market capitalization of $19.527 billion [2] - The company experienced a one-month return of -2.12% and a 52-week decline of 25.89% [2] Performance and Market Conditions - Corpay's decline is attributed to investor concerns regarding labor market weakness affecting its corporate payments business and pressure from a significant drop in U.S. freight volumes impacting its truck-fleet fuel card business [3] - Despite these challenges, PBCM views the current industry weakness as an investment opportunity in the segment leader [3] Financial Performance - In Q3 2025, Corpay reported a 14% growth in both revenue and cash EPS [4] - The company is not among the 30 most popular stocks among hedge funds, with 42 hedge fund portfolios holding its shares at the end of Q2 2025, up from 40 in the previous quarter [4]