Corpay (NYSE:CPAY) Given New $320.00 Price Target at Wells Fargo & Company

Corpay (NYSE:CPAY) had its price target hoisted by equities research analysts at Wells Fargo & Company from $285.00 to $320.00 in a research note issued on Monday, Benzinga reports. The firm currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price objective would suggest a potential downside of 8.30% from the stock’s current price.

Other equities analysts have also recently issued research reports about the stock. William Blair upgraded shares of Corpay to a “strong-buy” rating in a research report on Thursday, August 8th. Royal Bank of Canada reiterated a “sector perform” rating and set a $310.00 price target on shares of Corpay in a research report on Thursday, August 8th. BMO Capital Markets boosted their price objective 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. Evercore ISI dropped their price objective on shares of Corpay from $350.00 to $345.00 and set an “outperform” rating on the stock in a research note on Tuesday, June 25th. Finally, Raymond James dropped their price objective on shares of Corpay from $330.00 to $311.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Three equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $353.33.

Corpay Price Performance

CPAY stock opened at $348.97 on Monday. Corpay has a 12-month low of $220.39 and a 12-month high of $355.47. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 1.74. The firm’s 50-day moving average price is $315.11 and its two-hundred day moving average price is $292.79. The stock has a market capitalization of $24.52 billion, a price-to-earnings ratio of 25.97, a PEG ratio of 1.33 and a beta of 1.22.

Corpay (NYSE:CPAY) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $4.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.51 by $0.04. Corpay had a net margin of 26.41% and a return on equity of 38.93%. The company had revenue of $975.70 million for the quarter, compared to analysts’ expectations of $973.84 million. During the same quarter in the previous year, the company earned $3.85 earnings per share. Corpay’s quarterly revenue was up 2.9% on a year-over-year basis. As a group, equities analysts predict that Corpay will post 17.83 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Whittier Trust Co. of Nevada Inc. lifted its stake 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 stake 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 stake 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 stake 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 stake 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. Institutional investors own 98.84% of the company’s stock.

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.