Raymond James Issues Pessimistic Forecast for Corpay (NYSE:CPAY) Stock Price

Corpay (NYSE:CPAY) had its price objective cut by investment analysts at Raymond James from $434.00 to $417.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Raymond James’ price target would suggest a potential upside of 11.04% from the company’s previous close.

CPAY has been the subject of a number of other reports. Wolfe Research raised Corpay from a “peer perform” rating to an “outperform” rating and set a $420.00 target price for the company in a research note on Wednesday, January 8th. Bank of America increased their target price on Corpay from $344.00 to $375.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. Citigroup began coverage on Corpay in a research report on Tuesday, January 14th. They set a “buy” rating and a $430.00 price target for the company. Morgan Stanley upped their price target on Corpay from $350.00 to $380.00 and gave the stock an “equal weight” rating in a research report on Thursday. Finally, BMO Capital Markets upped their price target on Corpay from $400.00 to $440.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. 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. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $399.71.

Corpay Stock Performance

Shares of CPAY stock opened at $375.53 on Thursday. The stock has a 50-day moving average of $361.72 and a 200-day moving average of $335.59. Corpay has a one year low of $247.10 and a one year high of $400.81. The company has a debt-to-equity ratio of 1.69, a current ratio of 1.05 and a quick ratio of 1.05. The stock has a market cap of $26.18 billion, a PE ratio of 26.79, a price-to-earnings-growth ratio of 1.30 and a beta of 1.28.

Corpay (NYSE:CPAY) last posted its 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 return on equity of 39.44% and a net margin of 26.14%. As a group, sell-side analysts expect that Corpay will post 17.84 earnings per share for the current year.

Insider Activity

In other Corpay news, Director Joseph W. Farrelly sold 2,975 shares of the firm’s stock in a transaction on 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 completion of the sale, the director now owns 10,530 shares of the company’s stock, valued at $3,950,645.40. This trade represents a 22.03 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Alissa B. Vickery sold 8,000 shares of the firm’s 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 sale, the chief accounting officer now directly owns 1,797 shares of the company’s stock, valued at $664,961.88. This represents a 81.66 % decrease in their position. The disclosure for this sale can be found here. 6.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Corpay

Several hedge funds have recently added to or reduced their stakes in the business. Exchange Traded Concepts LLC increased its position in Corpay by 16.6% during the 4th quarter. Exchange Traded Concepts LLC now owns 204 shares of the company’s stock worth $69,000 after buying an additional 29 shares during the period. Tealwood Asset Management Inc. increased its position in Corpay by 0.7% during the 4th quarter. Tealwood Asset Management Inc. now owns 4,197 shares of the company’s stock worth $1,420,000 after buying an additional 30 shares during the period. Oregon Public Employees Retirement Fund increased its position in Corpay by 0.5% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 5,963 shares of the company’s stock worth $2,018,000 after buying an additional 30 shares during the period. IFP Advisors Inc increased its position in Corpay by 2.7% during the 4th quarter. IFP Advisors Inc now owns 1,151 shares of the company’s stock worth $390,000 after buying an additional 30 shares during the period. Finally, Lake Street Advisors Group LLC increased its position in Corpay by 3.5% during the 4th quarter. Lake Street Advisors Group LLC now owns 939 shares of the company’s stock worth $318,000 after buying an additional 32 shares during the period. Institutional investors and hedge funds 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.