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

Ritholtz Wealth Management acquired a new stake in shares of Corpay, Inc (NYSE:CPAY) during the 3rd quarter, HoldingsChannel.com reports. The fund acquired 6,428 shares of the corporate payments company’s stock, valued at approximately $2,300,000.

Other institutional investors have also added to or reduced their stakes in the company. VELA Investment Management LLC boosted its position in Corpay by 0.4% during the second quarter. VELA Investment Management LLC now owns 5,782 shares of the corporate payments company’s stock worth $1,927,000 after purchasing an additional 25 shares during the period. Choreo LLC raised its position in shares of Corpay by 1.7% in the third quarter. Choreo LLC now owns 1,765 shares of the corporate payments company’s stock valued at $686,000 after purchasing an additional 29 shares during the period. Kendall Capital Management raised its position in shares of Corpay by 0.9% in the third quarter. Kendall Capital Management now owns 4,460 shares of the corporate payments company’s stock valued at $1,733,000 after purchasing an additional 40 shares during the period. Sequoia Financial Advisors LLC raised its position in shares of Corpay by 1.0% in the first quarter. Sequoia Financial Advisors LLC now owns 4,043 shares of the corporate payments company’s stock valued at $1,176,000 after purchasing an additional 41 shares during the period. Finally, Greenleaf Trust lifted its stake in shares of Corpay by 3.2% during the 2nd quarter. Greenleaf Trust now owns 1,356 shares of the corporate payments company’s stock valued at $452,000 after buying an additional 42 shares in the last quarter. 98.84% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently commented on CPAY shares. Oppenheimer raised their price objective on shares of Corpay from $454.00 to $461.00 and gave the stock an “outperform” rating in a report on Thursday, November 5th. UBS Group lifted their price objective on shares of Corpay from $415.00 to $465.00 and gave the company a “neutral” rating in a research note on Thursday, November 5th. Wolfe Research boosted their target price on shares of Corpay from $475.00 to $530.00 and gave the company an “outperform” rating in a report on Tuesday, August 25th. Royal Bank Of Canada increased their target price on Corpay from $438.00 to $474.00 and gave the stock a “sector perform” rating in a research report on Thursday, November 5th. Finally, Robert W. Baird set a $475.00 price target on Corpay in a report on Thursday, August 6th. Eleven investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $474.38.

Corpay Price Performance

CPAY stock traded up $6.16 during mid-day trading on Friday, reaching $462.17. 310,288 shares of the company traded hands, compared to its average volume of 519,266. The company has a debt-to-equity ratio of 1.82, a current ratio of 0.95 and a quick ratio of 0.95. The company has a market capitalization of $29.56 billion, a P/E ratio of 25.42, a P/E/G ratio of 0.94 and a beta of 0.94. Corpay, Inc has a 52-week low of $271.22 and a 52-week high of $479.53. The company has a fifty day moving average price of $409.88 and a 200-day moving average price of $363.03.

Corpay (NYSE:CPAY) last announced its quarterly earnings results on Wednesday, November 4th. The corporate payments company reported $7.54 earnings per share for the quarter, beating the consensus estimate of $7.20 by $0.34. Corpay had a return on equity of 46.94% and a net margin of 23.73%. 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 prior year, the business posted $5.70 earnings per share. The company’s revenue was up 17.9% on a year-over-year basis. As a group, analysts anticipate that Corpay, Inc will post 26.52 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Steven Stull sold 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $410.66, for a total transaction of $1,642,640.00. Following the completion of the transaction, the director owned 23,598 shares of the company’s stock, valued at approximately $9,690,754.68. The trade was a 14.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Ronald Clarke sold 119,486 shares of the business’s stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $412.40, for a total transaction of $49,276,026.40. Following the transaction, the chief executive officer directly owned 2,354,330 shares of the company’s stock, valued at approximately $970,925,692. This represents a 4.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 220,860 shares of company stock valued at $91,395,514 over the last 90 days. 5.19% of the stock is owned by company insiders.

Corpay Profile

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.