Machina Capital S.A.S. Acquires 2,796 Shares of Corpay, Inc. $CPAY

Machina Capital S.A.S. increased its holdings in shares of Corpay, Inc. (NYSE:CPAY) by 63.1% in the third quarter, Holdings Channel.com reports. The fund owned 7,227 shares of the company’s stock after buying an additional 2,796 shares during the quarter. Machina Capital S.A.S.’s holdings in Corpay were worth $2,082,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of CPAY. Nordea Investment Management AB grew its position in shares of Corpay by 50.1% during the 2nd quarter. Nordea Investment Management AB now owns 20,297 shares of the company’s stock worth $6,670,000 after buying an additional 6,775 shares in the last quarter. Y Intercept Hong Kong Ltd lifted its stake in Corpay by 1,513.1% in the third quarter. Y Intercept Hong Kong Ltd now owns 25,891 shares of the company’s stock worth $7,458,000 after acquiring an additional 24,286 shares during the period. Hussman Strategic Advisors Inc. lifted its stake in Corpay by 100.0% in the third quarter. Hussman Strategic Advisors Inc. now owns 8,400 shares of the company’s stock worth $2,420,000 after acquiring an additional 4,200 shares during the period. Hendershot Investments Inc. grew its holdings in Corpay by 11.8% during the 2nd quarter. Hendershot Investments Inc. now owns 37,651 shares of the company’s stock worth $12,493,000 after acquiring an additional 3,970 shares in the last quarter. Finally, Kestra Investment Management LLC increased its position in Corpay by 55,800.0% during the 2nd quarter. Kestra Investment Management LLC now owns 3,354 shares of the company’s stock valued at $1,113,000 after purchasing an additional 3,348 shares during the period. Hedge funds and other institutional investors own 98.84% of the company’s stock.

Analyst Ratings Changes

CPAY has been the subject of several research reports. Wall Street Zen cut shares of Corpay from a “buy” rating to a “hold” rating in a research report on Saturday, October 11th. Scotiabank raised shares of Corpay to a “sector outperform” rating in a research note on Monday, January 26th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Corpay in a research report on Monday, November 3rd. Weiss Ratings reiterated a “hold (c+)” rating on shares of Corpay in a report on Monday, December 29th. Finally, Morgan Stanley started coverage on Corpay in a research report on Monday, January 26th. They issued an “overweight” rating and a $379.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $369.46.

Insiders Place Their Bets

In other Corpay news, Director Steven T. Stull purchased 8,000 shares of the company’s stock in a transaction dated Friday, December 12th. The shares were acquired at an average price of $314.98 per share, for a total transaction of $2,519,840.00. Following the completion of the purchase, the director owned 29,241 shares of the company’s stock, valued at approximately $9,210,330.18. The trade was a 37.66% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 5.04% of the company’s stock.

Corpay Stock Performance

Shares of CPAY stock opened at $292.00 on Wednesday. Corpay, Inc. has a 12-month low of $252.84 and a 12-month high of $400.81. The business’s fifty day simple moving average is $311.75 and its 200-day simple moving average is $304.49. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 1.41. The company has a market cap of $20.43 billion, a PE ratio of 19.82, a PEG ratio of 0.93 and a beta of 0.82.

Corpay (NYSE:CPAY) last announced its earnings results on Wednesday, November 5th. The company reported $5.70 earnings per share for the quarter, topping the consensus estimate of $5.63 by $0.07. Corpay had a return on equity of 37.83% and a net margin of 24.37%.The firm had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.16 billion. During the same period in the previous year, the business earned $5.00 EPS. The firm’s revenue for the quarter was up 13.9% on a year-over-year basis. Analysts expect that Corpay, Inc. will post 19.76 earnings per share for the current fiscal year.

Corpay Profile

Corpay (NYSE:CPAY) is a global payments and fintech company that provides businesses with tools to manage, move and optimize corporate spend. The company focuses on commercial payments, foreign exchange and cross-border transactions, aiming to simplify treasury operations and reduce friction in business-to-business payments through technology-driven solutions.

Its product offering includes payment processing and accounts payable automation, corporate and virtual card programs, expense management tools, and foreign-exchange hedging and execution services for international payments.