Corpay (NYSE:CPAY) Hits New 1-Year High - Here's What Happened

Shares of Corpay, Inc. (NYSE:CPAY - Get Free Report) hit a new 52-week high on Friday . The stock traded as high as $368.12 and last traded at $368.00, with a volume of 44974 shares trading hands. The stock had previously closed at $346.50.

Analysts Set New Price Targets

Several equities analysts recently issued reports on CPAY shares. JPMorgan Chase & Co. lifted their price objective on Corpay from $327.00 to $353.00 and gave the stock an "overweight" rating in a report on Tuesday, August 20th. Keefe, Bruyette & Woods boosted their price target on Corpay from $380.00 to $400.00 and gave the company an "outperform" rating in a research report on Friday. Wolfe Research raised Corpay from an "underperform" rating to a "peer perform" rating in a research report on Tuesday, September 3rd. BMO Capital Markets boosted their price target on Corpay from $350.00 to $390.00 and gave the stock an "outperform" rating in a research note on Thursday, October 3rd. Finally, Royal Bank of Canada restated a "sector perform" rating and set a $310.00 price objective on shares of Corpay in a research note on Thursday, August 8th. Four analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Corpay currently has a consensus rating of "Moderate Buy" and an average target price of $356.79.

Corpay Trading Up 5.6 %

The company has a debt-to-equity ratio of 1.74, a current ratio of 1.02 and a quick ratio of 1.02. The stock has a market capitalization of $25.40 billion, a PE ratio of 26.60, a PEG ratio of 1.30 and a beta of 1.21. The stock's 50 day simple moving average is $324.92 and its two-hundred day simple moving average is $296.05.

Corpay (NYSE:CPAY - Get Free Report) last posted its earnings results on Wednesday, August 7th. The company reported $4.55 earnings per share for the quarter, topping analysts' consensus estimates of $4.51 by $0.04. The business had revenue of $975.70 million for the quarter, compared to analyst estimates of $973.84 million. Corpay had a net margin of 26.41% and a return on equity of 38.93%. Corpay's revenue was up 2.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.85 EPS. On average, sell-side analysts expect that Corpay, Inc. will post 17.96 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Empirical Finance LLC bought a new position in shares of Corpay during the first quarter worth $829,000. EP Wealth Advisors LLC bought a new position in shares of Corpay in the first quarter worth about $949,000. Swedbank AB grew its holdings in Corpay by 26.9% during the 2nd quarter. Swedbank AB now owns 127,217 shares of the company's stock worth $33,892,000 after acquiring an additional 27,000 shares in the last quarter. Swiss National Bank bought a new position in Corpay during the 1st quarter worth about $66,706,000. Finally, DekaBank Deutsche Girozentrale bought a new stake in shares of Corpay in the 1st quarter valued at about $10,171,000. 98.84% of the stock is owned by hedge funds and other institutional investors.

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.