Corpay (NYSE:CPAY – Get Free Report) had its target price boosted by analysts at Wells Fargo & Company from $285.00 to $320.00 in a report issued on Monday, Benzinga reports. The firm presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price objective indicates a potential downside of 8.30% from the company’s previous close.
Several other research analysts also recently commented on the stock. Barclays raised their price objective on shares of Corpay from $330.00 to $385.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Wolfe Research raised shares of Corpay from an “underperform” rating to a “peer perform” rating in a report on Tuesday, September 3rd. Raymond James cut their price target on shares of Corpay from $330.00 to $311.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. William Blair raised shares of Corpay to a “strong-buy” rating in a report on Thursday, August 8th. Finally, Evercore ISI cut their price target on shares of Corpay from $350.00 to $345.00 and set an “outperform” rating for the company in a report on Tuesday, June 25th. Three investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $353.33.
Read Our Latest Stock Analysis on CPAY
Corpay Stock Up 0.1 %
Corpay (NYSE:CPAY – Get Free Report) last released its quarterly earnings data on Wednesday, August 7th. The company reported $4.55 EPS for the quarter, topping the consensus estimate of $4.51 by $0.04. The company had revenue of $975.70 million during the quarter, compared to the consensus estimate of $973.84 million. Corpay had a net margin of 26.41% and a return on equity of 38.93%. Corpay’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same period last year, the firm earned $3.85 EPS. On average, sell-side analysts expect that Corpay will post 17.83 EPS for the current year.
Institutional Trading of Corpay
Hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. purchased a new position in Corpay in the 1st quarter worth $2,431,089,000. JPMorgan Chase & Co. purchased a new position in Corpay in the 1st quarter worth $1,429,445,000. Price T Rowe Associates Inc. MD purchased a new position in Corpay in the 1st quarter worth $1,355,377,000. Boston Partners purchased a new position in Corpay in the 1st quarter worth $553,667,000. Finally, Sustainable Growth Advisers LP purchased a new position in Corpay in the 1st quarter worth $553,279,000. 98.84% of the stock is owned by institutional investors.
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.
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