Meridian Management Co. Has $6.69 Million Stake in Corpay, Inc. (NYSE:CPAY)

Meridian Management Co. boosted its holdings in Corpay, Inc. (NYSE:CPAY) by 0.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 21,384 shares of the company’s stock after purchasing an additional 200 shares during the quarter. Corpay comprises approximately 1.7% of Meridian Management Co.’s investment portfolio, making the stock its 15th largest holding. Meridian Management Co.’s holdings in Corpay were worth $6,688,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Albion Financial Group UT bought a new stake in Corpay during the 3rd quarter valued at $27,000. Headlands Technologies LLC bought a new stake in Corpay during the 1st quarter valued at $31,000. LGT Financial Advisors LLC bought a new stake in Corpay during the 2nd quarter valued at $33,000. RFP Financial Group LLC bought a new stake in Corpay during the 1st quarter valued at $35,000. Finally, Blue Trust Inc. grew its stake in shares of Corpay by 246.2% in the 2nd quarter. Blue Trust Inc. now owns 135 shares of the company’s stock worth $36,000 after acquiring an additional 96 shares in the last quarter. Institutional investors own 98.84% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on CPAY shares. Bank of America upped their target price on shares of Corpay from $344.00 to $375.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $310.00 target price on shares of Corpay in a research note on Thursday, August 8th. Wolfe Research upgraded shares of Corpay from an “underperform” rating to a “peer perform” rating in a research note on Tuesday, September 3rd. Keefe, Bruyette & Woods upped their target price on shares of Corpay from $380.00 to $400.00 and gave the stock an “outperform” rating in a research note on Friday. Finally, BMO Capital Markets upped their target price on shares of Corpay from $350.00 to $390.00 and gave the stock an “outperform” rating in a research note on Thursday, October 3rd. Four investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Corpay presently has a consensus rating of “Moderate Buy” and a consensus price target of $358.57.

Corpay Price Performance

NYSE CPAY opened at $373.15 on Tuesday. The company has a market cap of $25.91 billion, a PE ratio of 26.62, a price-to-earnings-growth ratio of 1.45 and a beta of 1.21. Corpay, Inc. has a 52 week low of $228.51 and a 52 week high of $375.35. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 1.74. The firm’s 50-day simple moving average is $327.08 and its two-hundred day simple moving average is $296.85.

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.