Corpay (NYSE:CPAY) Announces Earnings Results

Corpay (NYSE:CPAY) posted its quarterly earnings results on Wednesday. The company reported $4.96 earnings per share for the quarter, missing the consensus estimate of $5.37 by ($0.41), Zacks reports. Corpay had a return on equity of 39.44% and a net margin of 26.14%.

Corpay Price Performance

NYSE:CPAY traded up $9.10 during midday trading on Wednesday, hitting $388.76. The company had a trading volume of 667,586 shares, compared to its average volume of 421,355. The stock’s fifty day moving average price is $361.38 and its 200-day moving average price is $334.84. Corpay has a 52-week low of $247.10 and a 52-week high of $391.10. 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 company has a market capitalization of $27.10 billion, a PE ratio of 27.73, a P/E/G ratio of 1.30 and a beta of 1.28.

Insider Buying and Selling

In related news, CAO Alissa B. Vickery sold 8,000 shares of Corpay stock in a transaction on 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 transaction, the chief accounting officer now directly owns 1,797 shares of the company’s stock, valued at $664,961.88. The trade was a 81.66 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Joseph W. Farrelly sold 2,975 shares of the business’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $375.18, for a total value 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 represents a 22.03 % decrease in their position. The disclosure for this sale can be found here. 6.10% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have commented on CPAY. Jefferies Financial Group upped their price objective on Corpay from $375.00 to $425.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Citigroup assumed coverage on shares of Corpay in a research report on Tuesday, January 14th. They set a “buy” rating and a $430.00 price objective for the company. Bank of America boosted their target price on shares of Corpay from $344.00 to $375.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. Wells Fargo & Company increased their price target on shares of Corpay from $340.00 to $375.00 and gave the stock an “equal weight” rating in a research 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 report on Wednesday, January 8th. Three analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $381.43.

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.