Meridian Management Co. Increases Stock Holdings in Corpay, Inc. (NYSE:CPAY)

Meridian Management Co. lifted its position in Corpay, Inc. (NYSE:CPAY) by 0.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,384 shares of the company’s stock after buying an additional 200 shares during the quarter. Corpay makes up approximately 1.7% of Meridian Management Co.’s portfolio, making the stock its 15th biggest holding. Meridian Management Co.’s holdings in Corpay were worth $6,688,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Whittier Trust Co. of Nevada Inc. lifted its holdings in shares of Corpay by 22.7% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 184 shares of the company’s stock worth $58,000 after buying an additional 34 shares in the last quarter. Mather Group LLC. lifted its holdings in shares of Corpay by 21.2% in the third quarter. Mather Group LLC. now owns 200 shares of the company’s stock worth $63,000 after buying an additional 35 shares in the last quarter. Epic Trust Investment Advisors LLC lifted its holdings in shares of Corpay by 4.1% in the second quarter. Epic Trust Investment Advisors LLC now owns 998 shares of the company’s stock worth $266,000 after buying an additional 39 shares in the last quarter. Massmutual Trust Co. FSB ADV lifted its holdings in shares of Corpay by 21.6% in the second quarter. Massmutual Trust Co. FSB ADV now owns 242 shares of the company’s stock worth $64,000 after buying an additional 43 shares in the last quarter. Finally, Signaturefd LLC lifted its holdings in shares of Corpay by 22.3% in the third quarter. Signaturefd LLC now owns 252 shares of the company’s stock worth $79,000 after buying an additional 46 shares in the last quarter. 98.84% of the stock is owned by hedge funds and other institutional investors.

Corpay Stock Up 2.0 %

Shares of Corpay stock opened at $373.15 on Tuesday. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.02 and a current ratio of 1.02. Corpay, Inc. has a 52-week low of $228.51 and a 52-week high of $375.35. The stock has a market capitalization of $25.91 billion, a price-to-earnings ratio of 26.62, a P/E/G ratio of 1.45 and a beta of 1.21. The company’s 50 day moving average price is $327.08 and its 200-day moving average price is $296.85.

Wall Street Analyst Weigh In

CPAY has been the topic of a number of recent analyst reports. Morgan Stanley raised their target price on shares of Corpay from $325.00 to $350.00 and gave the company an “equal weight” rating in a research note on Monday. Bank of America raised their target price on shares of Corpay from $344.00 to $375.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. JPMorgan Chase & Co. raised their target price on shares of Corpay from $327.00 to $353.00 and gave the company an “overweight” rating in a research note on Tuesday, August 20th. Wells Fargo & Company raised their target price on shares of Corpay from $285.00 to $320.00 and gave the company an “equal weight” rating in a research note on Monday, October 21st. Finally, Keefe, Bruyette & Woods increased their price target on shares of Corpay from $380.00 to $400.00 and gave the company an “outperform” rating in a research report on Friday. Four equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $358.57.

About Corpay

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.