Corpay (NYSE:CPAY) PT Raised to $425.00

Corpay (NYSE:CPAY) had its target price increased by Jefferies Financial Group from $375.00 to $425.00 in a research report report published on Wednesday morning, Benzinga reports. The firm currently has a buy rating on the stock.

Several other brokerages have also issued reports on CPAY. Bank of America upped their target price on shares of Corpay from $344.00 to $375.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. Raymond James cut their price target on Corpay from $330.00 to $311.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Evercore ISI lowered their price objective on Corpay from $350.00 to $345.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 25th. BMO Capital Markets increased their target price on Corpay from $350.00 to $390.00 and gave the stock an “outperform” rating in a research report on Thursday, October 3rd. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $310.00 price objective on shares of Corpay in a report on Thursday, August 8th. Three research 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. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $350.42.

Corpay Price Performance

Shares of NYSE CPAY opened at $353.51 on Wednesday. The company has a 50 day moving average of $312.40 and a 200 day moving average of $292.35. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 1.74. Corpay has a twelve month low of $220.39 and a twelve month high of $355.47. The firm has a market cap of $24.84 billion, a P/E ratio of 26.30, a PEG ratio of 1.33 and a beta of 1.22.

Corpay (NYSE:CPAY) last released its quarterly earnings data on Wednesday, August 7th. The company reported $4.55 EPS for the quarter, beating the consensus estimate of $4.51 by $0.04. The company had revenue of $975.70 million for the quarter, compared to analysts’ expectations of $973.84 million. Corpay had a return on equity of 38.93% and a net margin of 26.41%. Corpay’s revenue was up 2.9% compared to the same quarter last year. During the same period last year, the firm posted $3.85 earnings per share. As a group, research analysts expect that Corpay will post 17.83 EPS for the current fiscal year.

Hedge Funds Weigh In On Corpay

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Violich Capital Management Inc. lifted its position in Corpay by 52.1% in the third quarter. Violich Capital Management Inc. now owns 7,300 shares of the company’s stock worth $2,283,000 after buying an additional 2,500 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of Corpay by 15.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 20,228 shares of the company’s stock worth $6,327,000 after purchasing an additional 2,751 shares during the period. First Citizens Bank & Trust Co. boosted its stake in shares of Corpay by 6.5% during the 3rd quarter. First Citizens Bank & Trust Co. now owns 1,792 shares of the company’s stock worth $560,000 after purchasing an additional 109 shares during the period. Blue Trust Inc. grew its holdings in Corpay by 299.3% during the 3rd quarter. Blue Trust Inc. now owns 539 shares of the company’s stock valued at $169,000 after purchasing an additional 404 shares during the last quarter. Finally, Generate Investment Management Ltd raised its position in Corpay by 33.8% in the 3rd quarter. Generate Investment Management Ltd now owns 98,156 shares of the company’s stock worth $30,699,000 after purchasing an additional 24,810 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.