Corpay, Inc. (NYSE:CPAY) Receives $401.07 Consensus Target Price from Analysts

Shares of Corpay, Inc. (NYSE:CPAY) have earned an average recommendation of “Moderate Buy” from the sixteen brokerages that are currently covering the stock, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation, ten have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $401.0667.

A number of research firms have weighed in on CPAY. Wells Fargo & Company lowered their price objective on Corpay from $375.00 to $339.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 24th. Deutsche Bank Aktiengesellschaft began coverage on Corpay in a research note on Thursday, July 17th. They set a “buy” rating and a $390.00 price objective on the stock. Raymond James Financial reissued an “outperform” rating and set a $414.00 price objective (down previously from $417.00) on shares of Corpay in a research note on Wednesday, May 7th. Barclays lowered their price objective on Corpay from $440.00 to $400.00 and set an “overweight” rating on the stock in a research note on Monday, April 14th. Finally, Oppenheimer started coverage on Corpay in a research note on Monday, April 28th. They set a “market perform” rating on the stock.

Institutional Investors Weigh In On Corpay

Several large investors have recently bought and sold shares of the stock. Select Equity Group L.P. increased its holdings in shares of Corpay by 1,302.3% in the 1st quarter. Select Equity Group L.P. now owns 1,218,898 shares of the company’s stock valued at $425,054,000 after acquiring an additional 1,131,975 shares during the last quarter. Invesco Ltd. increased its holdings in shares of Corpay by 163.7% in the 4th quarter. Invesco Ltd. now owns 1,686,665 shares of the company’s stock valued at $570,801,000 after acquiring an additional 1,047,080 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Corpay by 20.7% in 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 acquiring an additional 1,000,699 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Corpay by 38,235.3% in the 1st quarter. GAMMA Investing LLC now owns 559,696 shares of the company’s stock valued at $195,177,000 after acquiring an additional 558,236 shares during the last quarter. Finally, Bessemer Group Inc. increased its holdings in shares of Corpay by 4,811.9% in the 1st quarter. Bessemer Group Inc. now owns 557,252 shares of the company’s stock valued at $194,326,000 after acquiring an additional 545,907 shares during the last quarter. Hedge funds and other institutional investors own 98.84% of the company’s stock.

Corpay Stock Performance

Shares of NYSE:CPAY opened at $324.33 on Friday. The company has a debt-to-equity ratio of 1.69, a current ratio of 1.10 and a quick ratio of 1.10. The business’s 50 day moving average price is $330.75 and its 200-day moving average price is $339.87. The firm has a market capitalization of $22.86 billion, a PE ratio of 22.74, a P/E/G ratio of 1.20 and a beta of 0.96. Corpay has a 1 year low of $265.06 and a 1 year high of $400.81.

Corpay (NYSE:CPAY) last released its quarterly earnings data on Tuesday, May 6th. The company reported $4.51 earnings per share for the quarter, topping analysts’ consensus estimates of $4.50 by $0.01. The company had revenue of $1.01 billion for the quarter, compared to analyst estimates of $1.02 billion. Corpay had a return on equity of 41.61% and a net margin of 25.15%. The firm’s revenue for the quarter was up 7.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.10 earnings per share. As a group, equities research analysts expect that Corpay will post 19.76 earnings per share 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.