1,567 Shares in Corpay, Inc. (NYSE:CPAY) Purchased by Merit Financial Group LLC

Merit Financial Group LLC purchased a new stake in Corpay, Inc. (NYSE:CPAY) in the fourth quarter, Holdings Channel.com reports. The firm purchased 1,567 shares of the company’s stock, valued at approximately $530,000.

Several other hedge funds have also modified their holdings of the stock. International Assets Investment Management LLC bought a new position in Corpay during the third quarter worth about $40,497,000. JPMorgan Chase & Co. increased its holdings in shares of Corpay by 2.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 5,287,311 shares of the company’s stock worth $1,653,659,000 after acquiring an additional 120,578 shares during the last quarter. Prana Capital Management LP bought a new position in Corpay in the 3rd quarter valued at about $31,541,000. FMR LLC increased its position in Corpay by 3.0% during the third quarter. FMR LLC now owns 2,692,847 shares of the company’s stock worth $842,215,000 after acquiring an additional 78,880 shares during the period. Finally, Swedbank AB raised its holdings in Corpay by 46.3% in the 3rd quarter. Swedbank AB now owns 186,117 shares of the company’s stock valued at $58,210,000 after acquiring an additional 58,900 shares in the last quarter. 98.84% of the stock is owned by institutional investors.

Corpay Stock Performance

NYSE CPAY opened at $377.53 on Friday. The firm has a market cap of $26.32 billion, a price-to-earnings ratio of 26.93, a PEG ratio of 1.26 and a beta of 1.26. The company has a 50-day simple moving average of $360.00 and a two-hundred day simple moving average of $328.47. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 1.69. Corpay, Inc. has a 12-month low of $247.10 and a 12-month high of $385.30.

Corpay (NYSE:CPAY) last posted its quarterly earnings results on Thursday, November 7th. The company reported $4.72 EPS for the quarter, beating analysts’ consensus estimates of $4.67 by $0.05. The company had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.03 billion. Corpay had a net margin of 26.14% and a return on equity of 39.44%. During the same period in the prior year, the business posted $4.20 EPS. On average, equities analysts forecast that Corpay, Inc. will post 17.84 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms recently weighed in on CPAY. Wolfe Research raised Corpay from a “peer perform” rating to an “outperform” rating and set a $420.00 price objective on the stock in a report on Wednesday, January 8th. Morgan Stanley raised their price target on shares of Corpay from $325.00 to $350.00 and gave the stock an “equal weight” rating in a report on Monday, November 11th. Bank of America upped their price objective on shares of Corpay from $344.00 to $375.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. Citigroup began coverage on shares of Corpay in a research note on Tuesday, January 14th. They issued a “buy” rating and a $430.00 target price for the company. Finally, Keefe, Bruyette & Woods decreased their target price on Corpay from $425.00 to $415.00 and set an “outperform” rating for the company in a research report on Monday, January 6th. Three investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Corpay has an average rating of “Moderate Buy” and a consensus target price of $381.43.

Insider Transactions at Corpay

In other Corpay news, CAO Alissa B. Vickery sold 8,000 shares of the firm’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $370.04, for a total transaction of $2,960,320.00. Following the completion of the transaction, the chief accounting officer now owns 1,797 shares of the company’s stock, valued at approximately $664,961.88. This trade represents a 81.66 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Joseph W. Farrelly sold 2,975 shares of the stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $375.18, for a total transaction of $1,116,160.50. Following the completion of the transaction, the director now owns 10,530 shares of the company’s stock, valued at approximately $3,950,645.40. The trade was a 22.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 6.10% of the company’s stock.

Corpay Company Profile

Corpay, Inc operates as a payments company that helps businesses and consumers manage vehicle-related expenses, lodging expenses, and corporate payments in the United States, Brazil, the United Kingdom, and internationally. The company offers vehicle payment solutions, which include fuel, tolls, parking, fleet maintenance, and long-haul transportation services, as well as prepaid food and transportation vouchers and cards.