Maridea Wealth Management LLC Invests $245,000 in Corpay, Inc. (NYSE:CPAY)

Maridea Wealth Management LLC acquired a new stake in shares of Corpay, Inc. (NYSE:CPAY) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 724 shares of the company’s stock, valued at approximately $245,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CPAY. Norges Bank purchased a new stake in Corpay during the 4th quarter valued at $241,739,000. Raymond James Financial Inc. bought a new stake in shares of Corpay in the fourth quarter worth $134,950,000. Boston Partners increased its position in Corpay by 6.4% during the fourth quarter. Boston Partners now owns 2,045,398 shares of the company’s stock valued at $694,847,000 after acquiring an additional 122,380 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Corpay by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 7,752,799 shares of the company’s stock valued at $2,623,702,000 after acquiring an additional 120,688 shares during the period. Finally, JPMorgan Chase & Co. boosted its position in Corpay by 2.3% in the third quarter. JPMorgan Chase & Co. now owns 5,287,311 shares of the company’s stock worth $1,653,659,000 after purchasing an additional 120,578 shares during the last quarter. Hedge funds and other institutional investors own 98.84% of the company’s stock.

Corpay Stock Down 2.4 %

Shares of NYSE:CPAY opened at $346.79 on Friday. The company has a market cap of $24.36 billion, a price-to-earnings ratio of 24.81, a PEG ratio of 1.32 and a beta of 1.25. Corpay, Inc. has a 12 month low of $247.10 and a 12 month high of $400.81. The company has a current ratio of 1.00, a quick ratio of 1.05 and a debt-to-equity ratio of 1.66. The company has a 50-day moving average price of $363.75 and a 200 day moving average price of $351.85.

Corpay (NYSE:CPAY) last posted its quarterly earnings data on Wednesday, February 5th. The company reported $4.96 earnings per share (EPS) for the quarter, missing the consensus estimate 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 research analysts predict that Corpay, Inc. will post 19.76 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Richard Macchia sold 2,427 shares of the stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $375.23, for a total value of $910,683.21. Following the sale, the director now directly owns 12,215 shares of the company’s stock, valued at $4,583,434.45. This represents a 16.58 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 6.10% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms have recently commented on CPAY. Keefe, Bruyette & Woods upped their price target on shares of Corpay from $415.00 to $445.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. Wolfe Research raised shares of Corpay from a “peer perform” rating to an “outperform” rating and set a $420.00 target price for the company in a report on Wednesday, January 8th. BMO Capital Markets lifted their price target on shares of Corpay from $400.00 to $440.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. Royal Bank of Canada upped their price objective on Corpay from $354.00 to $400.00 and gave the stock a “sector perform” rating in a research note on Thursday, February 6th. Finally, Morgan Stanley raised their target price on Corpay from $350.00 to $380.00 and gave the stock an “equal weight” rating in a report on Thursday, February 6th. Three equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock 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.