Barclays Has Lowered Expectations for Corpay (NYSE:CPAY) Stock Price

Corpay (NYSE:CPAY - Get Free Report) had its price target decreased by Barclays from $440.00 to $400.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. Barclays's price objective would indicate a potential upside of 29.70% from the stock's current price.

A number of other research firms have also recently commented on CPAY. Royal Bank of Canada upped their target price on shares of Corpay from $354.00 to $400.00 and gave the company a "sector perform" rating in a research report on Thursday, February 6th. Wells Fargo & Company lifted their target price on shares of Corpay from $340.00 to $375.00 and gave the company an "equal weight" rating in a report on Thursday, January 16th. Wolfe Research upgraded shares of Corpay from a "peer perform" rating to an "outperform" rating and set a $420.00 price target on the stock in a research note on Wednesday, January 8th. Citigroup started coverage on Corpay in a report on Tuesday, January 14th. They issued a "buy" rating and a $430.00 target price for the company. Finally, Morgan Stanley boosted their price target on shares of Corpay from $350.00 to $380.00 and gave the stock an "equal weight" rating in a report on Thursday, February 6th. Three research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Corpay has an average rating of "Moderate Buy" and a consensus price target of $400.38.

Corpay Price Performance

Shares of CPAY traded up $1.62 during mid-day trading on Monday, hitting $308.39. 353,820 shares of the company were exchanged, compared to its average volume of 483,383. Corpay has a 1-year low of $247.10 and a 1-year high of $400.81. The company has a 50 day moving average of $342.35 and a 200-day moving average of $351.72. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.05 and a current ratio of 1.00. The stock has a market cap of $21.66 billion, a price-to-earnings ratio of 22.06, a price-to-earnings-growth ratio of 1.32 and a beta of 1.11.

Corpay (NYSE:CPAY - Get Free Report) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $4.96 EPS for the quarter, missing the consensus estimate of $5.37 by ($0.41). Corpay had a return on equity of 41.46% and a net margin of 25.25%. Analysts expect that Corpay will post 19.76 EPS for the current fiscal year.

Insider Activity at Corpay

In other news, Director Richard Macchia sold 2,427 shares of the company's stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $375.23, for a total transaction of $910,683.21. Following the completion of the transaction, the director now owns 12,215 shares of the company's stock, valued at $4,583,434.45. This represents a 16.58 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 6.10% of the company's stock.

Hedge Funds Weigh In On Corpay

Several institutional investors and hedge funds have recently bought and sold shares of CPAY. Clarius Group LLC acquired a new stake in shares of Corpay during the 1st quarter worth $225,000. Rakuten Securities Inc. purchased a new position in shares of Corpay in the 1st quarter worth about $45,000. Janney Montgomery Scott LLC lifted its stake in shares of Corpay by 9.2% in the 1st quarter. Janney Montgomery Scott LLC now owns 2,913 shares of the company's stock valued at $1,016,000 after purchasing an additional 246 shares in the last quarter. Azzad Asset Management Inc. ADV purchased a new stake in shares of Corpay during the 1st quarter worth about $2,569,000. Finally, Fifth Third Bancorp raised its holdings in Corpay by 1.6% in the first quarter. Fifth Third Bancorp now owns 2,691 shares of the company's stock valued at $938,000 after buying an additional 43 shares during the period. Institutional investors and hedge funds 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.