FLEETCOR Announces Rebranding To Corpay; Adopting New Ticker "CPAY" On March 25, 2024
Portfolio Pulse from Benzinga Newsdesk
FLEETCOR Technologies, Inc. (NYSE:FLT), a leading global payments company, announced it will rebrand to Corpay and adopt a new ticker symbol 'CPAY' starting March 25, 2024. The rebranding reflects the company's focus on corporate payment solutions. FLEETCOR, an S&P 500 company serving over 800,000 business customers with 2023 revenues of $3.75 billion, is the top B2B commercial Mastercard issuer in North America and was named to Newsweek's list of Top 100 Most Loved Workplaces.
March 07, 2024 | 1:14 pm
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FLEETCOR Technologies, Inc. is rebranding to Corpay and will trade under the new ticker 'CPAY' from March 25, 2024, aiming to better align with its corporate payment solutions focus.
The rebranding to Corpay and the adoption of a new ticker symbol reflect a strategic move to better represent FLEETCOR's focus on corporate payment solutions. This could positively impact investor perception and the stock price in the short term as it highlights the company's evolution and growth in its core business areas. The announcement also reinforces FLEETCOR's strong market position, as evidenced by its revenue figures, leadership in B2B commercial Mastercard issuing, and recognition as a top workplace.
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