Corpay, Inc. (NYSE:CPAY) Given Average Rating of “Moderate Buy” by Analysts

Corpay, Inc. (NYSE:CPAY) has been given an average rating of “Moderate Buy” by the thirteen brokerages that are covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation, nine have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is $337.92.

CPAY has been the topic of a number of recent analyst reports. Wolfe Research upgraded shares of Corpay from an “underperform” rating to a “peer perform” rating in a report on Tuesday, September 3rd. William Blair upgraded shares of Corpay to a “strong-buy” rating in a report on Thursday, August 8th. Raymond James dropped their target price on shares of Corpay from $330.00 to $311.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. JPMorgan Chase & Co. raised their target price on shares of Corpay from $327.00 to $353.00 and gave the stock an “overweight” rating in a report on Tuesday, August 20th. Finally, Bank of America dropped their target price on shares of Corpay from $331.00 to $310.00 and set a “buy” rating on the stock in a report on Thursday, August 8th.

Corpay Stock Performance

Shares of NYSE CPAY opened at $331.00 on Friday. Corpay has a fifty-two week low of $220.39 and a fifty-two week high of $331.10. The firm’s 50 day simple moving average is $300.62. The company has a market capitalization of $23.26 billion, a P/E ratio of 24.63, a price-to-earnings-growth ratio of 1.24 and a beta of 1.22. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 1.74.

Corpay (NYSE:CPAY) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $4.55 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 firm had revenue of $975.70 million for the quarter, compared to analysts’ expectations of $973.84 million. During the same quarter in the prior year, the company posted $3.85 earnings per share. The business’s revenue for the quarter was up 2.9% on a year-over-year basis. On average, analysts forecast that Corpay will post 17.83 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Epic Trust Investment Advisors LLC boosted its stake in shares of Corpay by 4.1% during the 2nd quarter. Epic Trust Investment Advisors LLC now owns 998 shares of the company’s stock worth $266,000 after acquiring an additional 39 shares during the last quarter. Massmutual Trust Co. FSB ADV raised its position in shares of Corpay by 21.6% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 242 shares of the company’s stock valued at $64,000 after purchasing an additional 43 shares during the period. Sequoia Financial Advisors LLC raised its position in shares of Corpay by 4.3% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 1,320 shares of the company’s stock valued at $352,000 after purchasing an additional 54 shares during the period. Capital Insight Partners LLC raised its position in shares of Corpay by 2.5% during the 2nd quarter. Capital Insight Partners LLC now owns 2,255 shares of the company’s stock valued at $601,000 after purchasing an additional 55 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd raised its position in shares of Corpay by 0.9% during the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 7,754 shares of the company’s stock valued at $2,066,000 after purchasing an additional 71 shares during the period. 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.