Corpay Inc (NYSE:CPAY) has seen major expansion and investments in recent times. Retirement Systems of Alabama, Sumitomo Mitsui Trust Holdings Inc and Norden Group LLC have all acquired new shares in the company while Sumitomo Mitsui Trust Holdings Inc has made a fresh investment in the firm. Moreover, Corpay has made serious strides in acquisitions along with a rebranding from its prior identity, Fleetcor. In terms of acquisitions, the company has purchased a Cross-Border Payments company and GPS Capital Markets for expanding its cross-border payment solutions. The financial outcome for Q1 2024 earnings met with mixed responses as earnings exceeded estimates while revenues missed. A major focus upon is institutional investors form 87% of the investors pool. However, the company has seen a decline of 7.7% since last earnings report, which foments some concern. The acquisition of Paymerang, and the anticipated job creation following it is viewed as a major strategic move by Corpay.
Corpay CPAY News Analytics from Fri, 23 Dec 2016 22:41:13 GMT to Sun, 07 Jul 2024 12:23:11 GMT -
