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

Merit Financial Group LLC bought a new stake in Corpay, Inc. (NYSE:CPAY) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,567 shares of the company’s stock, valued at approximately $530,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of CPAY. Swedbank AB lifted its stake in shares of 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 purchasing an additional 58,900 shares during the period. Oppenheimer Asset Management Inc. boosted its holdings in Corpay by 66.7% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 5,888 shares of the company’s stock valued at $1,842,000 after purchasing an additional 2,355 shares during the last quarter. Retireful LLC purchased a new position in shares of Corpay during the 3rd quarter worth $702,000. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in Corpay in the 3rd quarter valued at approximately $527,000. Finally, Banco Santander S.A. purchased a new position in Corpay during the 3rd quarter valued at about $668,000. Institutional investors and hedge funds own 98.84% of the company’s stock.

Corpay Price Performance

Shares of CPAY opened at $377.53 on Friday. The stock has a fifty day moving average price of $360.00 and a 200 day moving average price of $328.47. The company has a market cap of $26.32 billion, a P/E ratio of 26.93, a PEG ratio of 1.26 and a beta of 1.26. The company has a debt-to-equity ratio of 1.69, a current ratio of 1.05 and a quick ratio of 1.05. Corpay, Inc. has a 12 month low of $247.10 and a 12 month high of $385.30.

Corpay (NYSE:CPAY) last issued its quarterly earnings results on Thursday, November 7th. The company reported $4.72 EPS for the quarter, topping the consensus estimate of $4.67 by $0.05. The firm had revenue of $1.03 billion for the quarter, compared to analysts’ expectations 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 previous year, the business earned $4.20 earnings per share. On average, research analysts forecast that Corpay, Inc. will post 17.84 earnings per share for the current year.

Insider Buying and Selling

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

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on CPAY shares. Wolfe Research raised shares of Corpay from a “peer perform” rating to an “outperform” rating and set a $420.00 price objective for the company in a research report on Wednesday, January 8th. Jefferies Financial Group boosted their target price on shares of Corpay from $375.00 to $425.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Keefe, Bruyette & Woods cut their price objective on Corpay from $425.00 to $415.00 and set an “outperform” rating for the company in a research report on Monday, January 6th. Morgan Stanley raised their target price on shares of Corpay from $325.00 to $350.00 and gave the stock an “equal weight” rating in a research report on Monday, November 11th. Finally, Barclays lifted their price target on shares of Corpay from $385.00 to $415.00 and gave the company an “overweight” rating in a report on Monday, October 28th. Three investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $381.43.

Corpay 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.