Corpay, Inc $CPAY Shares Newly Bought by Ritholtz Wealth Management

Ritholtz Wealth Management purchased a new stake in shares of Corpay, Inc (NYSE:CPAY) during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 6,428 shares of the corporate payments company’s stock, valued at approximately $2,300,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Spruce House Investment Management LLC increased its stake in Corpay by 6.0% in the 1st quarter. Spruce House Investment Management LLC now owns 880,000 shares of the corporate payments company’s stock valued at $256,071,000 after buying an additional 50,000 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Corpay by 3.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 782,500 shares of the corporate payments company’s stock worth $227,695,000 after buying an additional 23,646 shares in the last quarter. Hawk Ridge Capital Management LP lifted its position in shares of Corpay by 20.5% during the 1st quarter. Hawk Ridge Capital Management LP now owns 532,180 shares of the corporate payments company’s stock worth $154,859,000 after buying an additional 90,360 shares in the last quarter. Bank of New York Mellon Corp purchased a new position in shares of Corpay in the 2nd quarter worth approximately $107,805,000. Finally, Bank of America Corp DE boosted its stake in shares of Corpay by 0.6% in the 1st quarter. Bank of America Corp DE now owns 364,102 shares of the corporate payments company’s stock worth $105,950,000 after buying an additional 2,131 shares during the last quarter. 98.84% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Ronald Clarke sold 119,486 shares of the company’s stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $412.40, for a total value of $49,276,026.40. Following the transaction, the chief executive officer owned 2,354,330 shares in the company, valued at approximately $970,925,692. This represents a 4.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Steven T. Stull sold 2,357 shares of the stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $413.62, for a total value of $974,902.34. Following the transaction, the director directly owned 21,241 shares of the company’s stock, valued at approximately $8,785,702.42. This trade represents a 9.99% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 220,860 shares of company stock worth $91,395,514 in the last ninety days. 5.19% of the stock is currently owned by insiders.

Corpay Stock Performance

CPAY stock traded up $6.16 during mid-day trading on Friday, hitting $462.17. The company had a trading volume of 310,288 shares, compared to its average volume of 519,266. The firm has a market cap of $29.56 billion, a PE ratio of 25.42, a price-to-earnings-growth ratio of 0.94 and a beta of 0.94. The company has a debt-to-equity ratio of 1.82, a quick ratio of 0.95 and a current ratio of 0.95. Corpay, Inc has a 12 month low of $271.22 and a 12 month high of $479.53. The stock’s fifty day moving average price is $409.88 and its two-hundred day moving average price is $363.03.

Corpay (NYSE:CPAY) last released its earnings results on Wednesday, November 4th. The corporate payments company reported $7.54 earnings per share for the quarter, beating analysts’ consensus estimates of $7.20 by $0.34. Corpay had a net margin of 23.73% and a return on equity of 46.94%. The firm had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.36 billion. During the same period in the previous year, the company earned $5.70 earnings per share. The company’s quarterly revenue was up 17.9% on a year-over-year basis. On average, analysts forecast that Corpay, Inc will post 26.52 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on CPAY shares. Royal Bank Of Canada upped their target price on Corpay from $438.00 to $474.00 and gave the company a “sector perform” rating in a report on Thursday, November 5th. Wall Street Zen lowered Corpay from a “buy” rating to a “hold” rating in a report on Saturday, October 24th. Raymond James Financial reiterated an “outperform” rating and set a $442.00 price target on shares of Corpay in a report on Thursday, August 6th. JPMorgan Chase & Co. boosted 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, Morgan Stanley upped their price objective on Corpay from $455.00 to $460.00 and gave the company an “overweight” rating in a research note on Wednesday, October 28th. Eleven equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $474.38.

About Corpay

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.