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

Corpay (NYSE:CPAY) had its price target lowered by Raymond James from $434.00 to $417.00 in a report issued on Thursday morning,Benzinga reports. The firm currently has an outperform rating on the stock.

A number of other brokerages also recently commented on CPAY. Barclays lifted their price objective on shares of Corpay from $385.00 to $415.00 and gave the company an “overweight” rating in a research report on Monday, October 28th. Jefferies Financial Group raised their price target on shares of Corpay from $375.00 to $425.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Wolfe Research upgraded shares of Corpay from a “peer perform” rating to an “outperform” rating and set a $420.00 target price on the stock in a research report on Wednesday, January 8th. Wells Fargo & Company lifted their price target on shares of Corpay from $340.00 to $375.00 and gave the company an “equal weight” rating in a research report on Thursday, January 16th. Finally, Royal Bank of Canada raised their price objective on Corpay from $354.00 to $400.00 and gave the stock a “sector perform” rating in a research note on Thursday. Three research 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’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $399.71.

Corpay Price Performance

Shares of CPAY opened at $389.35 on Thursday. The stock has a 50 day simple moving average of $361.54 and a 200 day simple moving average of $335.21. Corpay has a 52-week low of $247.10 and a 52-week high of $400.81. The company has a debt-to-equity ratio of 1.69, a quick ratio of 1.05 and a current ratio of 1.05. The firm has a market capitalization of $27.14 billion, a PE ratio of 27.77, a P/E/G ratio of 1.30 and a beta of 1.28.

Corpay (NYSE:CPAY) last released its quarterly earnings results on Wednesday, February 5th. The company reported $4.96 earnings per share for the quarter, missing the consensus estimate of $5.37 by ($0.41). Corpay had a net margin of 26.14% and a return on equity of 39.44%. Sell-side analysts predict that Corpay will post 17.84 EPS for the current fiscal year.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of CPAY. Albion Financial Group UT purchased a new stake in shares of Corpay during the 3rd quarter worth approximately $27,000. Avion Wealth lifted its holdings in Corpay by 1,011.1% during the 4th quarter. Avion Wealth now owns 100 shares of the company’s stock worth $33,000 after purchasing an additional 91 shares in the last quarter. Versant Capital Management Inc grew its holdings in Corpay by 130.4% during the 4th quarter. Versant Capital Management Inc now owns 106 shares of the company’s stock valued at $36,000 after buying an additional 60 shares in the last quarter. Spire Wealth Management purchased a new stake in shares of Corpay in the fourth quarter worth about $42,000. Finally, Assetmark Inc. grew its stake in Corpay by 93.8% during the fourth quarter. Assetmark Inc. now owns 124 shares of the company’s stock valued at $42,000 after acquiring an additional 60 shares in the last quarter. Hedge funds and other institutional investors own 98.84% of the company’s stock.

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.