Machina Capital S.A.S. Acquires 6,701 Shares of Corpay, Inc $CPAY

Machina Capital S.A.S. acquired a new stake in Corpay, Inc (NYSE:CPAY) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 6,701 shares of the corporate payments company’s stock, valued at approximately $2,489,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Knights of Columbus Asset Advisors LLC purchased a new position in Corpay during the third quarter worth about $5,349,000. Lido Advisors LLC grew its holdings in Corpay by 67.1% in the 3rd quarter. Lido Advisors LLC now owns 2,452 shares of the corporate payments company’s stock valued at $953,000 after buying an additional 985 shares during the period. Keybank National Association OH grew its holdings in Corpay by 111.6% in the 3rd quarter. Keybank National Association OH now owns 2,436 shares of the corporate payments company’s stock valued at $904,000 after buying an additional 1,285 shares during the period. New York Life Investment Management LLC grew its holdings in Corpay by 49.7% in the 3rd quarter. New York Life Investment Management LLC now owns 14,644 shares of the corporate payments company’s stock valued at $5,517,000 after buying an additional 4,863 shares during the period. Finally, AlphaCore Capital LLC increased its stake in shares of Corpay by 162.6% during the 3rd quarter. AlphaCore Capital LLC now owns 1,896 shares of the corporate payments company’s stock valued at $708,000 after acquiring an additional 1,174 shares during the last quarter. Hedge funds and other institutional investors own 98.84% of the company’s stock.

Insider Transactions at Corpay

In other news, CEO Ronald Clarke sold 119,486 shares of the business’s stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $412.40, for a total transaction of $49,276,026.40. Following the completion of the sale, the chief executive officer owned 2,354,330 shares in the company, valued at approximately $970,925,692. The trade was a 4.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Steven T. Stull sold 4,000 shares of the stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $410.66, for a total transaction of $1,642,640.00. Following the sale, the director directly owned 23,598 shares of the company’s stock, valued at approximately $9,690,754.68. This trade represents a 14.49% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 220,860 shares of company stock worth $91,395,514. Company insiders own 5.19% of the company’s stock.

Corpay Trading Up 0.6%

Shares of CPAY opened at $462.24 on Thursday. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 1.82. The firm has a market capitalization of $29.57 billion, a P/E ratio of 25.43, a price-to-earnings-growth ratio of 1.04 and a beta of 0.94. The stock’s fifty day simple moving average is $408.28 and its 200 day simple moving average is $361.93. Corpay, Inc has a twelve month low of $271.22 and a twelve month high of $479.53.

Corpay (NYSE:CPAY) last posted its quarterly earnings results on Wednesday, November 4th. The corporate payments company reported $7.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $1.36 billion. During the same quarter in the previous year, the business earned $5.70 earnings per share. The firm’s quarterly revenue was up 17.9% compared to the same quarter last year. On average, equities research analysts forecast that Corpay, Inc will post 26.52 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Cantor Fitzgerald increased their price objective on shares of Corpay from $480.00 to $550.00 and gave the stock an “overweight” rating in a report on Monday. Morgan Stanley raised their target price on shares of Corpay from $455.00 to $460.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 28th. JPMorgan Chase & Co. boosted their target price on shares of Corpay from $470.00 to $500.00 and gave the company an “overweight” rating in a report on Thursday, November 5th. UBS Group upped their price target on shares of Corpay from $415.00 to $465.00 and gave the stock a “neutral” rating in a research report on Thursday, November 5th. Finally, Robert W. Baird set a $475.00 price target on shares of Corpay in a research 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 company. According to MarketBeat.com, Corpay presently has an average rating of “Moderate Buy” and a consensus price target of $474.38.

Corpay Company 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.