Machina Capital S.A.S. Acquires 6,701 Shares of Corpay, Inc $CPAY

Machina Capital S.A.S. bought a new position in shares of Corpay, Inc (NYSE:CPAY) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 6,701 shares of the corporate payments company’s stock, valued at approximately $2,489,000.

Several other large investors also recently bought and sold shares of CPAY. Spruce House Investment Management LLC raised its stake in shares of Corpay by 6.0% during the 1st quarter. Spruce House Investment Management LLC now owns 880,000 shares of the corporate payments company’s stock worth $256,071,000 after buying an additional 50,000 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in Corpay by 3.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 782,500 shares of the corporate payments company’s stock valued at $227,695,000 after acquiring an additional 23,646 shares during the last quarter. Hawk Ridge Capital Management LP grew its stake in Corpay by 20.5% in the 1st quarter. Hawk Ridge Capital Management LP now owns 532,180 shares of the corporate payments company’s stock valued at $154,859,000 after acquiring an additional 90,360 shares during the last quarter. Bank of America Corp DE increased its holdings in Corpay by 0.6% during the 1st quarter. Bank of America Corp DE now owns 364,102 shares of the corporate payments company’s stock valued at $105,950,000 after acquiring an additional 2,131 shares in the last quarter. Finally, Bank of New York Mellon Corp purchased a new position in Corpay during the 2nd quarter valued at about $107,805,000. Institutional investors and hedge funds own 98.84% of the company’s stock.

Insider Activity

In other news, CEO Ronald Clarke sold 119,486 shares of Corpay stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $412.40, for a total transaction of $49,276,026.40. Following the completion of the sale, the chief executive officer directly owned 2,354,330 shares in the company, valued at $970,925,692. The trade was a 4.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Steven Stull sold 2,357 shares of the business’s stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $413.62, for a total transaction of $974,902.34. Following the completion of the transaction, the director directly owned 21,241 shares of the company’s stock, valued at approximately $8,785,702.42. This represents a 9.99% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 220,860 shares of company stock worth $91,395,514 over the last ninety days. 5.19% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Raymond James Financial restated an “outperform” rating and set a $442.00 target price on shares of Corpay in a research report on Thursday, August 6th. Oppenheimer increased their price target on shares of Corpay from $454.00 to $461.00 and gave the company an “outperform” rating in a research report on Thursday, November 5th. Scotiabank raised their price objective on shares of Corpay from $536.00 to $539.00 and gave the stock a “sector outperform” rating in a research note on Thursday, November 5th. JPMorgan Chase & Co. lifted their price objective on Corpay from $470.00 to $500.00 and gave the stock an “overweight” rating in a research report on Thursday, November 5th. Finally, Robert W. Baird set a $475.00 target price on Corpay in a research note on Thursday, August 6th. Eleven investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $474.38.

Corpay Stock Up 0.6%

CPAY opened at $462.24 on Thursday. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 1.82. The firm has a market cap of $29.57 billion, a P/E ratio of 25.43, a PEG ratio of 1.04 and a beta of 0.94. Corpay, Inc has a 52 week low of $271.22 and a 52 week high of $479.53. The business’s fifty day simple moving average is $408.28 and its 200 day simple moving average is $361.93.

Corpay (NYSE:CPAY) last announced its earnings results on Wednesday, November 4th. The corporate payments company reported $7.54 earnings per share for the quarter, beating the consensus estimate of $7.20 by $0.34. The firm had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.36 billion. Corpay had a net margin of 23.73% and a return on equity of 46.94%. The firm’s revenue for the quarter was up 17.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $5.70 EPS. As a group, equities research analysts anticipate that Corpay, Inc will post 26.52 EPS for the current fiscal year.

Corpay Profile

Corpay is a global corporate payments company that provides businesses with a range of payment and expense management solutions. Its services are designed to help organizations manage payables, card programs, travel and fleet-related expenses, and cross-border transactions more efficiently. The company serves customers across a variety of industries and geographies, offering software and payment tools that streamline accounts payable, vendor payments, and workforce payments. Corpay also provides specialized solutions for fleet management and international payments, helping businesses control costs and simplify financial operations.