Corpay, Inc. $CPAY Stock Holdings Lowered by Meridian Management Co.

Meridian Management Co. cut its position in Corpay, Inc. (NYSE:CPAY) by 5.5% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 18,396 shares of the company’s stock after selling 1,069 shares during the quarter. Corpay comprises 1.6% of Meridian Management Co.’s holdings, 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 quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. CVA Family Office LLC increased its stake in shares of Corpay by 56.7% in the second quarter. CVA Family Office LLC now owns 94 shares of the company’s stock valued at $31,000 after purchasing an additional 34 shares during the period. Hazlett Burt & Watson Inc. bought a new position in Corpay in the 2nd quarter worth approximately $33,000. Ameritas Advisory Services LLC acquired a new stake in Corpay in the 2nd quarter valued at approximately $37,000. Zions Bancorporation National Association UT acquired a new stake in Corpay in the 1st quarter valued at approximately $41,000. Finally, Larson Financial Group LLC raised its stake in Corpay by 309.5% during the 1st quarter. Larson Financial Group LLC now owns 172 shares of the company’s stock valued at $60,000 after acquiring an additional 130 shares in the last quarter. 98.84% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Raymond James Financial set a $392.00 price target on Corpay and gave the stock an “outperform” rating in a research note on Thursday, August 7th. Keefe, Bruyette & Woods reduced their price objective on shares of Corpay from $445.00 to $400.00 and set an “outperform” rating for the company in a report on Wednesday, October 1st. Deutsche Bank Aktiengesellschaft began coverage on shares of Corpay in a research report on Thursday, July 17th. They issued a “buy” rating and a $390.00 target price for the company. Weiss Ratings restated a “buy (b-)” rating on shares of Corpay in a research report on Wednesday, October 8th. Finally, Wall Street Zen cut shares of Corpay from a “buy” rating to a “hold” rating in a report on Saturday, October 11th. Eight investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, Corpay currently has an average rating of “Moderate Buy” and an average price target of $395.58.

Corpay Price Performance

NYSE:CPAY opened at $260.58 on Friday. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 1.48. The business’s 50-day moving average price is $297.47 and its 200 day moving average price is $316.86. Corpay, Inc. has a 52-week low of $252.84 and a 52-week high of $400.81. The firm has a market cap of $18.40 billion, a P/E ratio of 17.70, a PEG ratio of 1.02 and a beta of 0.97.

Corpay (NYSE:CPAY) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $5.13 earnings per share for the quarter, beating analysts’ consensus estimates of $5.11 by $0.02. The company had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.09 billion. Corpay had a net margin of 25.17% and a return on equity of 39.13%. Corpay’s revenue was up 12.9% on a year-over-year basis. During the same period in the prior year, the company earned $4.55 EPS. As a group, sell-side analysts predict that Corpay, Inc. will post 19.76 earnings per share for the current fiscal year.

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.