Brokerages Set Corpay, Inc. (NYSE:CPAY) PT at $399.71

Corpay, Inc. (NYSE:CPAY) has been given an average recommendation of “Moderate Buy” by the fifteen analysts that are presently covering the stock, Marketbeat reports. Three equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. The average 12 month target price among brokers that have covered the stock in the last year is $399.71.

CPAY has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods boosted their price target on shares of Corpay from $415.00 to $445.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. Raymond James cut their price target on Corpay from $434.00 to $417.00 and set an “outperform” rating for the company in a report on Thursday, February 6th. Royal Bank of Canada increased their price objective on shares of Corpay from $354.00 to $400.00 and gave the stock a “sector perform” rating in a report on Thursday, February 6th. Wells Fargo & Company boosted their target price on shares of Corpay from $340.00 to $375.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 16th. Finally, Citigroup began coverage on shares of Corpay in a research note on Tuesday, January 14th. They set a “buy” rating and a $430.00 price target on the stock.

Insider Buying and Selling

In related news, Director Richard Macchia sold 2,427 shares of the business’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $375.23, for a total value of $910,683.21. Following the sale, the director now directly owns 12,215 shares of the company’s stock, valued at approximately $4,583,434.45. The trade was a 16.58 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 6.10% of the stock is owned by company insiders.

Institutional Trading of Corpay

Several hedge funds and other institutional investors have recently modified their holdings of CPAY. Swedbank AB grew its holdings in shares of Corpay by 46.3% during the third quarter. Swedbank AB now owns 186,117 shares of the company’s stock worth $58,210,000 after buying an additional 58,900 shares in the last quarter. Oppenheimer Asset Management Inc. boosted its position in Corpay by 66.7% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 5,888 shares of the company’s stock worth $1,842,000 after acquiring an additional 2,355 shares during the last quarter. Retireful LLC bought a new position in shares of Corpay during the 3rd quarter worth approximately $702,000. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of Corpay in the third quarter valued at approximately $527,000. Finally, Allspring Global Investments Holdings LLC lifted its position in shares of Corpay by 17.3% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 23,732 shares of the company’s stock worth $8,067,000 after purchasing an additional 3,504 shares in the last quarter. Institutional investors and hedge funds own 98.84% of the company’s stock.

Corpay Price Performance

Corpay stock opened at $325.21 on Wednesday. The business has a 50 day simple moving average of $365.02 and a 200 day simple moving average of $348.52. Corpay has a one year low of $247.10 and a one year high of $400.81. The company has a market capitalization of $22.85 billion, a PE ratio of 23.26, a price-to-earnings-growth ratio of 1.32 and a beta of 1.25. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.00 and a quick ratio of 1.05.

Corpay (NYSE:CPAY) last issued its quarterly earnings data on Wednesday, February 5th. The company reported $4.96 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.37 by ($0.41). Corpay had a net margin of 25.25% and a return on equity of 41.46%. On average, sell-side analysts forecast that Corpay will post 19.76 EPS for the current fiscal year.

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.