Corpay (NYSE:CPAY) Hits New 1-Year High on Analyst Upgrade

Shares of Corpay, Inc. (NYSE:CPAY - Get Free Report) hit 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 trading hands. The stock had previously closed at $388.67.

A number of other research analysts have also recently commented on CPAY. Wolfe Research raised 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 report on Wednesday, January 8th. BMO Capital Markets boosted their price objective on shares of Corpay from $400.00 to $440.00 and gave the stock an "outperform" rating in a report on Friday, December 13th. Jefferies Financial Group lifted their target price on Corpay from $375.00 to $425.00 and gave the stock a "buy" rating in a research report on Wednesday, October 16th. Wells Fargo & Company increased their price target on Corpay from $340.00 to $375.00 and gave the company an "equal weight" rating in a report on Thursday, January 16th. Finally, Keefe, Bruyette & Woods upped their target price on Corpay from $415.00 to $445.00 and gave the company an "outperform" rating in a research report on Thursday. Three analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $399.71.

Insiders Place Their Bets

In other news, CAO Alissa B. Vickery sold 8,000 shares of the company's stock in a transaction dated Wednesday, November 20th. The shares were 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 approximately $664,961.88. This represents a 81.66 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Joseph W. Farrelly sold 2,975 shares of Corpay stock in a transaction dated Wednesday, November 13th. The shares were 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 in the company, valued at approximately $3,950,645.40. This represents a 22.03 % 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 corporate insiders.

Institutional Trading of Corpay

Several large investors have recently added to or reduced their stakes in CPAY. Avion Wealth grew its stake in shares of Corpay by 1,011.1% in the fourth quarter. Avion Wealth now owns 100 shares of the company's stock worth $33,000 after purchasing an additional 91 shares in the last quarter. Versant Capital Management Inc lifted its holdings in Corpay by 130.4% in the fourth quarter. Versant Capital Management Inc now owns 106 shares of the company's stock worth $36,000 after purchasing an additional 60 shares during the period. Huntington National Bank increased its stake in Corpay by 43.0% during the 3rd quarter. Huntington National Bank now owns 133 shares of the company's stock valued at $42,000 after buying an additional 40 shares during the period. Quarry LP bought a new stake in shares of Corpay during the 3rd quarter worth about $42,000. Finally, Spire Wealth Management acquired a new stake in shares of Corpay in the 4th quarter worth approximately $42,000. 98.84% of the stock is currently owned by institutional investors and hedge funds.

Corpay Trading Down 0.2 %

The business's 50 day moving average price is $361.61 and its two-hundred day moving average price is $336.86. 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 company has a market capitalization of $26.15 billion, a price-to-earnings ratio of 26.83, a price-to-earnings-growth ratio of 1.33 and a beta of 1.28.

Corpay (NYSE:CPAY - Get Free Report) last released its earnings results on Wednesday, February 5th. The company reported $4.96 earnings per share for the quarter, missing analysts' consensus estimates of $5.37 by ($0.41). Corpay had a return on equity of 41.46% and a net margin of 25.25%. Equities analysts forecast that Corpay, Inc. will post 20.62 earnings per share 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.