Raymond James Cuts Corpay (NYSE:CPAY) Price Target to $417.00

Corpay (NYSE:CPAY) had its price objective cut by equities researchers at Raymond James from $434.00 to $417.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Raymond James’ target price indicates a potential upside of 5.91% from the company’s previous close.

A number of other equities analysts have also weighed in on CPAY. Wolfe Research upgraded shares of Corpay from a “peer perform” rating to an “outperform” rating and set a $420.00 price target on the stock in a research report on Wednesday, January 8th. Jefferies Financial Group increased their price target on Corpay from $375.00 to $425.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Keefe, Bruyette & Woods boosted their price objective on shares of Corpay from $415.00 to $445.00 and gave the company an “outperform” rating in a report on Thursday. Royal Bank of Canada boosted their price target on shares of Corpay from $354.00 to $400.00 and gave the company a “sector perform” rating in a research note on Thursday. Finally, Citigroup assumed coverage on shares of Corpay in a research report on Tuesday, January 14th. They set a “buy” rating and a $430.00 price objective for the company. Three research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $399.71.

Corpay Price Performance

NYSE CPAY traded up $5.06 on Thursday, hitting $393.73. The company had a trading volume of 590,485 shares, compared to its average volume of 435,329. The company has a debt-to-equity ratio of 1.69, a current ratio of 1.05 and a quick ratio of 1.05. The company’s fifty day moving average price is $361.54 and its 200-day moving average price is $335.21. The company has a market capitalization of $27.45 billion, a PE ratio of 28.05, a PEG ratio of 1.30 and a beta of 1.28. Corpay has a 12-month low of $247.10 and a 12-month high of $400.81.

Corpay (NYSE:CPAY) last released its earnings results on Wednesday, February 5th. The company reported $4.96 EPS for the quarter, missing analysts’ consensus estimates of $5.37 by ($0.41). Corpay had a return on equity of 39.44% and a net margin of 26.14%. As a group, analysts predict that Corpay will post 17.84 earnings per share for the current year.

Insider Buying and Selling at Corpay

In related news, Director Joseph W. Farrelly sold 2,975 shares of the business’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $375.18, for a total value of $1,116,160.50. Following the completion of the sale, the director now directly owns 10,530 shares of the company’s stock, valued at $3,950,645.40. The trade was a 22.03 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Alissa B. Vickery sold 8,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $370.04, for a total value of $2,960,320.00. Following the transaction, the chief accounting officer now owns 1,797 shares in the company, valued at $664,961.88. This represents a 81.66 % decrease in their position. The disclosure for this sale can be found here. Insiders own 6.10% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Swedbank AB lifted its position in Corpay by 46.3% in the third quarter. Swedbank AB now owns 186,117 shares of the company’s stock valued at $58,210,000 after purchasing an additional 58,900 shares during the period. Oppenheimer Asset Management Inc. increased its position in shares of Corpay by 66.7% in the third quarter. Oppenheimer Asset Management Inc. now owns 5,888 shares of the company’s stock valued at $1,842,000 after buying an additional 2,355 shares in the last quarter. Retireful LLC acquired a new position in shares of Corpay during the 3rd quarter worth $702,000. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in Corpay in the 3rd quarter valued at about $527,000. Finally, Banco Santander S.A. purchased a new position in Corpay during the 3rd quarter valued at about $668,000. 98.84% of the stock is currently owned by hedge funds and other institutional investors.

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.