Corpay (NYSE:CPAY) Given New $400.00 Price Target at Keefe, Bruyette & Woods

Corpay (NYSE:CPAY) had its target price increased by Keefe, Bruyette & Woods from $380.00 to $400.00 in a report published on Friday,Benzinga reports. Keefe, Bruyette & Woods currently has an outperform rating on the stock.

CPAY has been the topic of a number of other reports. Raymond James decreased their target price 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. William Blair raised Corpay to a “strong-buy” rating in a research note on Thursday, August 8th. Wolfe Research upgraded Corpay from an “underperform” rating to a “peer perform” rating in a report on Tuesday, September 3rd. Barclays upped their price objective on shares of Corpay from $385.00 to $415.00 and gave the company an “overweight” rating in a report on Monday, October 28th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Corpay from $327.00 to $353.00 and gave the company an “overweight” rating in a report on Tuesday, August 20th. Four analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Corpay presently has an average rating of “Moderate Buy” and a consensus price target of $356.79.

Corpay Price Performance

Shares of NYSE CPAY traded up $19.51 during midday trading on Friday, hitting $366.01. The stock had a trading volume of 1,210,700 shares, compared to its average volume of 486,981. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 1.74. The stock has a 50 day simple moving average of $325.93 and a 200-day simple moving average of $296.50. The company has a market capitalization of $25.41 billion, a PE ratio of 26.60, a P/E/G ratio of 1.38 and a beta of 1.21. Corpay has a 1 year low of $221.37 and a 1 year high of $375.35.

Corpay (NYSE:CPAY) last released its earnings results on Wednesday, August 7th. The company reported $4.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.51 by $0.04. The business had revenue of $975.70 million during the quarter, compared to analyst estimates of $973.84 million. Corpay had a net margin of 26.41% and a return on equity of 38.93%. The company’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.85 earnings per share. On average, sell-side analysts expect that Corpay will post 17.96 EPS for the current fiscal year.

Hedge Funds Weigh In On Corpay

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. bought a new position in Corpay during the 1st quarter valued at $2,431,089,000. JPMorgan Chase & Co. bought a new position in shares of Corpay during the 1st quarter valued at about $1,429,445,000. Price T Rowe Associates Inc. MD acquired a new position in shares of Corpay in the 1st quarter worth approximately $1,355,377,000. Boston Partners bought a new stake in shares of Corpay in the 1st quarter worth approximately $553,667,000. Finally, Sustainable Growth Advisers LP acquired a new stake in Corpay during the first quarter valued at approximately $553,279,000. 98.84% of the stock is currently owned by institutional investors and hedge funds.

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.