Maridea Wealth Management LLC Acquires Shares of 724 Corpay, Inc. (NYSE:CPAY)

Maridea Wealth Management LLC bought a new position in shares of Corpay, Inc. (NYSE:CPAY) during the fourth quarter, HoldingsChannel reports. The institutional investor bought 724 shares of the company’s stock, valued at approximately $245,000.

Several other institutional investors and hedge funds have also recently modified their holdings of CPAY. Allspring Global Investments Holdings LLC increased its holdings in Corpay by 17.3% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 23,732 shares of the company’s stock worth $8,067,000 after purchasing an additional 3,504 shares during the period. Crossmark Global Holdings Inc. increased its stake in shares of Corpay by 70.3% during the fourth quarter. Crossmark Global Holdings Inc. now owns 4,989 shares of the company’s stock valued at $1,689,000 after buying an additional 2,059 shares during the period. Radnor Capital Management LLC bought a new stake in shares of Corpay in the fourth quarter valued at about $3,667,000. Vestcor Inc lifted its stake in Corpay by 239.5% in the third quarter. Vestcor Inc now owns 7,088 shares of the company’s stock worth $2,217,000 after acquiring an additional 5,000 shares during the period. Finally, Maven Securities LTD grew its holdings in Corpay by 70.0% during the 3rd quarter. Maven Securities LTD now owns 4,250 shares of the company’s stock worth $1,329,000 after acquiring an additional 1,750 shares in the last quarter. Institutional investors own 98.84% of the company’s stock.

Corpay Stock Performance

CPAY opened at $346.79 on Friday. The firm’s 50-day moving average price is $363.75 and its 200-day moving average price is $351.85. The company has a market cap of $24.36 billion, a P/E ratio of 24.81, a price-to-earnings-growth ratio of 1.32 and a beta of 1.25. The company has a quick ratio of 1.05, a current ratio of 1.00 and a debt-to-equity ratio of 1.66. Corpay, Inc. has a 52-week low of $247.10 and a 52-week high of $400.81.

Corpay (NYSE:CPAY) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $4.96 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.37 by ($0.41). Corpay had a net margin of 25.25% and a return on equity of 41.46%. As a group, equities analysts anticipate that Corpay, Inc. will post 19.76 EPS for the current fiscal year.

Insider Activity at Corpay

In other Corpay news, Director Richard Macchia sold 2,427 shares of the business’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $375.23, for a total transaction of $910,683.21. Following the sale, the director now owns 12,215 shares in the company, valued at approximately $4,583,434.45. The trade was a 16.58 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 6.10% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

CPAY has been the subject of several recent research reports. Keefe, Bruyette & Woods boosted their price target on shares of Corpay from $415.00 to $445.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. Citigroup began coverage on Corpay in a report on Tuesday, January 14th. They set a “buy” rating and a $430.00 target price for the company. Royal Bank of Canada lifted their price target on Corpay from $354.00 to $400.00 and gave the company a “sector perform” rating in a report on Thursday, February 6th. Wolfe Research upgraded Corpay from a “peer perform” rating to an “outperform” rating and set a $420.00 price objective for the company in a research note on Wednesday, January 8th. Finally, BMO Capital Markets raised their price objective on Corpay from $400.00 to $440.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Three equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $399.71.

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.