Corpay (NYSE:CPAY) Price Target Raised to $415.00

Corpay (NYSE:CPAY) had its target price lifted by Barclays from $385.00 to $415.00 in a research report sent to investors on Monday morning, Benzinga reports. Barclays currently has an overweight rating on the stock.

A number of other brokerages have also issued reports on CPAY. Jefferies Financial Group lifted their price target on Corpay from $375.00 to $425.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Wells Fargo & Company upped their target price on shares of Corpay from $285.00 to $320.00 and gave the stock an “equal weight” rating in a report on Monday, October 21st. Raymond James lowered their price target on shares of Corpay from $330.00 to $311.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Bank of America raised 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. Finally, Wolfe Research upgraded Corpay from an “underperform” rating to a “peer perform” rating in a report on Tuesday, September 3rd. Four analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Corpay currently has an average rating of “Moderate Buy” and a consensus target price of $353.46.

Corpay Stock Performance

NYSE:CPAY opened at $331.88 on Monday. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.02 and a current ratio of 1.02. The stock has a market capitalization of $23.32 billion, a PE ratio of 24.69, a P/E/G ratio of 1.39 and a beta of 1.22. Corpay has a fifty-two week low of $221.37 and a fifty-two week high of $355.47. The company has a fifty day moving average of $320.90 and a two-hundred day moving average of $294.39.

Corpay (NYSE:CPAY) last released its quarterly earnings results on Wednesday, August 7th. The company reported $4.55 earnings per share for the quarter, topping 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 firm had revenue of $975.70 million during the quarter, compared to the consensus estimate of $973.84 million. During the same quarter in the prior year, the firm earned $3.85 EPS. The company’s revenue for the quarter was up 2.9% on a year-over-year basis. As a group, research analysts forecast that Corpay will post 17.83 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Corpay

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CPAY. Whittier Trust Co. of Nevada Inc. increased its position in shares of Corpay by 22.7% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 184 shares of the company’s stock worth $58,000 after purchasing an additional 34 shares during the last quarter. Mather Group LLC. raised its stake in shares of Corpay by 21.2% in the 3rd quarter. Mather Group LLC. now owns 200 shares of the company’s stock valued at $63,000 after acquiring an additional 35 shares during the period. Epic Trust Investment Advisors LLC raised its stake in shares of Corpay by 4.1% in the 2nd quarter. Epic Trust Investment Advisors LLC now owns 998 shares of the company’s stock valued at $266,000 after acquiring an additional 39 shares during the period. Massmutual Trust Co. FSB ADV lifted its holdings in shares of Corpay by 21.6% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 242 shares of the company’s stock worth $64,000 after acquiring an additional 43 shares during the last quarter. Finally, Signaturefd LLC boosted its position in shares of Corpay by 22.3% during the 3rd quarter. Signaturefd LLC now owns 252 shares of the company’s stock worth $79,000 after purchasing an additional 46 shares during the period. Hedge funds and other institutional investors own 98.84% of the company’s stock.

Corpay Company Profile

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.