Brokerages Set Corpay, Inc. (NYSE:CPAY) Target Price at $353.46

Shares of Corpay, Inc. (NYSE:CPAY) have earned an average recommendation of “Moderate Buy” from the fourteen research firms that are covering the firm, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $353.46.

Several brokerages have recently issued reports on CPAY. Wells Fargo & Company lifted their target price on Corpay from $285.00 to $320.00 and gave the stock an “equal weight” rating in a report on Monday, October 21st. Morgan Stanley lifted their price objective on Corpay from $275.00 to $325.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 29th. William Blair upgraded Corpay to a “strong-buy” rating in a research report on Thursday, August 8th. JPMorgan Chase & Co. boosted their price target on shares of Corpay from $327.00 to $353.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 20th. Finally, Jefferies Financial Group increased their price objective on shares of Corpay from $375.00 to $425.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th.

Corpay Trading Up 5.5 %

Corpay stock opened at $348.97 on Thursday. Corpay has a 1 year low of $221.37 and a 1 year high of $355.47. The firm’s 50 day moving average price is $323.31 and its 200-day moving average price is $295.32. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.02 and a quick ratio of 1.02. The stock has a market cap of $24.23 billion, a P/E ratio of 25.36, a PEG ratio of 1.30 and a beta of 1.21.

Corpay (NYSE:CPAY) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $4.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.51 by $0.04. Corpay had a net margin of 26.41% and a return on equity of 38.93%. The company had revenue of $975.70 million for the quarter, compared to the consensus estimate of $973.84 million. During the same period in the previous year, the firm posted $3.85 EPS. Corpay’s revenue for the quarter was up 2.9% compared to the same quarter last year. On average, equities analysts predict that Corpay will post 17.96 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of CPAY. Vanguard Group Inc. purchased a new position in Corpay during the 1st quarter valued at $2,431,089,000. JPMorgan Chase & Co. purchased a new stake in shares of Corpay during the first quarter valued at $1,429,445,000. Price T Rowe Associates Inc. MD bought a new position in shares of Corpay in the first quarter worth about $1,355,377,000. Boston Partners purchased a new position in Corpay in the 1st quarter worth about $553,667,000. Finally, Sustainable Growth Advisers LP bought a new stake in Corpay during the 1st quarter valued at about $553,279,000. Institutional investors own 98.84% of the company’s stock.

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.