CPAY Stock Rises 14.6% in Three Months: Here's What You Should Know

Corpay (CPAY) has climbed 14.6% over the past three months, beating the S&P 500's 3.8% return by more than 10 percentage points.

The driver is Corporate Payments, where revenues jumped 42% year-over-year in Q2 2026. Cross-border and payables demand powered that growth, giving the stock a concrete operating story behind the price move rather than a purely multiple-driven rally.

M&A is adding to the numbers. The acquisitions of Alpha Group International and AvidXchange contributed 39 cents to adjusted EPS, a direct boost to earnings per share from deals the company has already closed.

Capital return is also in play. Corpay spent $321 million on share buybacks, which shrinks the share count and supports per-share results alongside the acquisition contribution.

Interpretation: with a 42% segment growth rate, an acquisition-driven EPS lift, and active repurchases all landing in the same quarter, the earnings mix is increasingly tied to acquired contributions and buyback support. That raises the question of how much of the EPS growth is organic versus purchased.