Meridian Management Co. Has $5.94 Million Stock Holdings in Corpay, Inc. $CPAY

Meridian Management Co. trimmed its stake in shares of Corpay, Inc. (NYSE:CPAY) by 5.5% in the 2nd quarter, HoldingsChannel reports. The firm owned 18,396 shares of the company’s stock after selling 1,069 shares during the quarter. Corpay makes up about 1.6% of Meridian Management Co.’s portfolio, making the stock its 18th biggest position. Meridian Management Co.’s holdings in Corpay were worth $5,943,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of CPAY. Cerity Partners LLC lifted its position in shares of Corpay by 6.2% in the 1st quarter. Cerity Partners LLC now owns 33,385 shares of the company’s stock valued at $11,642,000 after acquiring an additional 1,942 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Corpay by 54.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,590 shares of the company’s stock worth $3,693,000 after purchasing an additional 3,739 shares in the last quarter. Nordea Investment Management AB raised its stake in Corpay by 50.1% during the 2nd quarter. Nordea Investment Management AB now owns 20,297 shares of the company’s stock valued at $6,670,000 after purchasing an additional 6,775 shares during the period. Peak Financial Advisors LLC purchased a new stake in shares of Corpay in the second quarter valued at $2,518,000. Finally, Czech National Bank lifted its holdings in shares of Corpay by 7.6% in the second quarter. Czech National Bank now owns 17,230 shares of the company’s stock valued at $5,717,000 after purchasing an additional 1,219 shares in the last quarter. Hedge funds and other institutional investors own 98.84% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Morgan Stanley lowered their price target on Corpay from $360.00 to $356.00 and set an “equal weight” rating on the stock in a report on Monday, August 11th. Weiss Ratings restated a “buy (b-)” rating on shares of Corpay in a research report on Wednesday, October 8th. UBS Group dropped their target price on Corpay from $365.00 to $340.00 and set a “neutral” rating on the stock in a report on Thursday, August 7th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Corpay in a report on Thursday, July 17th. They set a “buy” rating and a $390.00 price target for the company. Finally, Wall Street Zen lowered shares of Corpay from a “buy” rating to a “hold” rating in a research note on Saturday, October 11th. Eight research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $395.58.

Corpay Stock Up 2.2%

CPAY opened at $260.58 on Friday. The company has a market capitalization of $18.40 billion, a PE ratio of 17.70, a price-to-earnings-growth ratio of 1.02 and a beta of 0.97. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.12 and a quick ratio of 1.12. Corpay, Inc. has a fifty-two week low of $252.84 and a fifty-two week high of $400.81. The business has a 50-day moving average of $297.47 and a 200-day moving average of $316.86.

Corpay (NYSE:CPAY) last released its quarterly earnings data on Wednesday, August 6th. The company reported $5.13 EPS for the quarter, topping analysts’ consensus estimates of $5.11 by $0.02. The firm had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.09 billion. Corpay had a return on equity of 39.13% and a net margin of 25.17%.The firm’s revenue was up 12.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $4.55 earnings per share. Equities research analysts forecast that Corpay, Inc. will post 19.76 EPS for the current fiscal year.

About Corpay

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.