Corpay (NYSE:CPAY) Given New $417.00 Price Target at Raymond James

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

Several other brokerages also recently weighed in on CPAY. Wells Fargo & Company upped their target price on shares of Corpay from $340.00 to $375.00 and gave the stock an “equal weight” rating in a report on Thursday, January 16th. Wolfe Research raised shares of Corpay from a “peer perform” rating to an “outperform” rating and set a $420.00 target price for the company in a report on Wednesday, January 8th. Citigroup started 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. Royal Bank of Canada lifted their price target on Corpay from $354.00 to $400.00 and gave the stock a “sector perform” rating in a research report on Thursday. Finally, Barclays raised their price objective on Corpay from $385.00 to $415.00 and gave the company an “overweight” rating in a research note on Monday, October 28th. Three analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $399.71.

Corpay Stock Performance

CPAY traded up $5.06 during trading on Thursday, hitting $393.73. The company’s stock had a trading volume of 590,485 shares, compared to its average volume of 435,329. Corpay has a one year low of $247.10 and a one year high of $400.81. The business’s 50 day simple moving average is $361.54 and its 200-day simple moving average is $335.21. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 1.69. The firm has a market cap of $27.45 billion, a PE ratio of 28.05, a P/E/G ratio of 1.30 and a beta of 1.28.

Corpay (NYSE:CPAY) last announced 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 26.14% and a return on equity of 39.44%. As a group, sell-side analysts predict that Corpay will post 17.84 EPS for the current fiscal year.

Insider Activity

In other Corpay news, CAO Alissa B. Vickery sold 8,000 shares of the business’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $370.04, for a total value of $2,960,320.00. Following the completion of the transaction, the chief accounting officer now directly owns 1,797 shares in the company, valued at approximately $664,961.88. The trade was a 81.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Joseph W. Farrelly sold 2,975 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $375.18, for a total transaction of $1,116,160.50. Following the completion of the sale, the director now owns 10,530 shares in the company, valued at $3,950,645.40. This represents a 22.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 6.10% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in CPAY. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Corpay by 16.8% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,027 shares of the company’s stock worth $274,000 after buying an additional 148 shares during the last quarter. Sanctuary Advisors LLC acquired a new stake in Corpay during the 2nd quarter worth about $515,000. Park Avenue Securities LLC purchased a new stake in Corpay during the 3rd quarter valued at about $454,000. Czech National Bank grew its stake in Corpay by 5.6% during the 3rd quarter. Czech National Bank now owns 14,144 shares of the company’s stock valued at $4,424,000 after purchasing an additional 753 shares during the last quarter. Finally, GAMMA Investing LLC increased its holdings in shares of Corpay by 52.0% in the third quarter. GAMMA Investing LLC now owns 1,178 shares of the company’s stock valued at $368,000 after purchasing an additional 403 shares during the period. 98.84% of the stock is owned by institutional investors and hedge funds.

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.