Corpay (NYSE:CPAY) Hits New 12-Month High Following Analyst Upgrade

Corpay, Inc. (NYSE:CPAY)’s stock price reached a new 52-week high during trading on Thursday after Royal Bank of Canada raised their price target on the stock from $354.00 to $400.00. Royal Bank of Canada currently has a sector perform rating on the stock. Corpay traded as high as $400.68 and last traded at $391.99, with a volume of 118109 shares traded. The stock had previously closed at $388.67.

A number of other research analysts have also recently weighed in on CPAY. 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 note on Wednesday, January 8th. Wells Fargo & Company boosted their price target on shares of Corpay from $340.00 to $375.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 16th. Keefe, Bruyette & Woods boosted their price target on shares of Corpay from $415.00 to $445.00 and gave the stock an “outperform” rating in a research note on Thursday. Jefferies Financial Group boosted their price target on shares of Corpay from $375.00 to $425.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Finally, BMO Capital Markets boosted their price target on shares of Corpay from $400.00 to $440.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. Three equities 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. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $399.71.

Insider Activity at Corpay

In other Corpay news, Director Joseph W. Farrelly sold 2,975 shares of the company’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 directly owns 10,530 shares in the company, valued at $3,950,645.40. This represents a 22.03 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Alissa B. Vickery sold 8,000 shares of the company’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $370.04, for a total transaction of $2,960,320.00. Following the completion of the transaction, the chief accounting officer now owns 1,797 shares in the company, valued at $664,961.88. This represents a 81.66 % 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 insiders.

Hedge Funds Weigh In On Corpay

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

Corpay Price Performance

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 cap of $27.14 billion, a price-to-earnings ratio of 27.77, a price-to-earnings-growth ratio of 1.30 and a beta of 1.28. The stock’s 50 day simple moving average is $361.54 and its 200-day simple moving average is $335.21.

Corpay (NYSE:CPAY) last issued its quarterly earnings results 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%. Equities research analysts anticipate that Corpay, Inc. will post 17.84 EPS for the current fiscal year.

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.