Corpay, Inc. (NYSE:CPAY) Receives Average Recommendation of “Moderate Buy” from Analysts

Corpay, Inc. (NYSE:CPAY) has earned a consensus recommendation of “Moderate Buy” from the fourteen analysts that are currently covering the firm, Marketbeat reports. Three research analysts have rated the stock with a hold recommendation, ten have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $401.54.

Several research analysts have issued reports on the company. Royal Bank of Canada increased their price objective on Corpay from $354.00 to $400.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 6th. Keefe, Bruyette & Woods increased their target price on shares of Corpay from $415.00 to $445.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. Morgan Stanley lifted their price target on shares of Corpay from $350.00 to $380.00 and gave the company an “equal weight” rating in a research report on Thursday, February 6th. Wells Fargo & Company upped their price target on Corpay from $340.00 to $375.00 and gave the stock an “equal weight” rating in a report on Thursday, January 16th. Finally, Wolfe Research raised Corpay from a “peer perform” rating to an “outperform” rating and set a $420.00 price target for the company in a research note on Wednesday, January 8th.

Insider Activity

In other news, Director Richard Macchia sold 2,427 shares of Corpay stock in a transaction on Monday, February 10th. The stock was sold at an average price of $375.23, for a total value of $910,683.21. Following the completion of the sale, the director now owns 12,215 shares of the company’s stock, valued at $4,583,434.45. The trade was a 16.58 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 6.10% of the company’s stock.

Hedge Funds Weigh In On Corpay

Large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in shares of Corpay by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 7,752,799 shares of the company’s stock valued at $2,623,702,000 after acquiring an additional 120,688 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Corpay by 20.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,840,818 shares of the company’s stock valued at $1,976,651,000 after buying an additional 1,000,699 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of Corpay by 2.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 5,287,311 shares of the company’s stock worth $1,653,659,000 after buying an additional 120,578 shares during the last quarter. Boston Partners increased its holdings in shares of Corpay by 6.4% during the 4th quarter. Boston Partners now owns 2,045,398 shares of the company’s stock worth $694,847,000 after buying an additional 122,380 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. raised its position in shares of Corpay by 1.1% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,949,913 shares of the company’s stock worth $659,890,000 after buying an additional 20,937 shares during the period. 98.84% of the stock is currently owned by hedge funds and other institutional investors.

Corpay Trading Down 11.5 %

NYSE:CPAY opened at $317.30 on Friday. Corpay has a 12-month low of $247.10 and a 12-month high of $400.81. The company has a current ratio of 1.00, a quick ratio of 1.05 and a debt-to-equity ratio of 1.66. The stock’s 50 day simple moving average is $361.34 and its 200-day simple moving average is $352.59. The firm has a market cap of $22.29 billion, a P/E ratio of 22.70, a PEG ratio of 1.32 and a beta of 1.11.

Corpay (NYSE:CPAY) last issued its quarterly earnings results 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 return on equity of 41.46% and a net margin of 25.25%. Equities analysts anticipate that Corpay will post 19.76 EPS for the current 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.