Exchange: NYSE·Updated 07:30 PM EDT
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CPAY Corpay Inc.

$397.92
$4.16
(1.03%)
Today
Closed $397.92
$0.00
(0.00%)
After Hours
EarningsNov 4
Mkt Cap$26.13B
Vol480,160.00

About CPAY

Corpay, Inc. engages in the provision of digital payment solutions that enable businesses to control purchases and make payments. It operates through the following segments: Vehicle Payments, Corporate Payments, Lodging Payments and Other. The Vehicle Payments segment helps, controls and monitors spending and includes fuel card offerings, tolls and other complementary products. The Corporate Payments segment simplifies and automates vendor payments and includes accounts payable (AP) automation, virtual cards, cross-border payments and purchasing and travel and entertainment (T&E) card products. The Lodging Payments segment helps businesses manage lodging costs, while simplifying the management of hotels and housing, both short and longer-term, while also providing traveler and end customer support. The Other segment includes gift solutions and payroll card solution. It also operates through the following geographical segments: U.S., Brazil and the United Kingdom. The company was founded by William Boatner Reily III and Ronald F. Clarke in 1985 and is headquartered in Atlanta, GA.
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Corpay disclosed a proposed $100 million settlement with the Federal Trade Commission to resolve previously disclosed allegations involving marketing and disclosure practices in its U.S. Vehicle Payments segment. The agreement, announced during Friday’s session, does not include an admission of wrongdoing, and CEO Ron Clarke is not required to make any personal financial payment under its terms. While the settlement is significant, market observers do not expect it to materially affect Corpay’s overall financial performance or operations. Shares also faced additional pressure after an SEC filing showed institutional investor Corient Private Wealth LP reduced its stake in Corpay by nearly 60% during the second quarter. The stock fell to an intraday low of $397.88 from an opening price of $402.20. $CPAY

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