Corpay (NYSE:CPAY) Price Target Raised to $320.00

Corpay (NYSE:CPAY - Free Report) had its price target lifted by Wells Fargo & Company from $285.00 to $320.00 in a research note published on Monday, Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

A number of other research firms have also recently issued reports on CPAY. Wolfe Research upgraded Corpay from an "underperform" rating to a "peer perform" rating in a research note on Tuesday, September 3rd. JPMorgan Chase & Co. raised their price target on Corpay from $327.00 to $353.00 and gave the company an "overweight" rating in a report on Tuesday, August 20th. William Blair upgraded shares of Corpay to a "strong-buy" rating in a research note on Thursday, August 8th. Raymond James lowered their target price on Corpay from $330.00 to $311.00 and set an "outperform" rating on the stock in a report on Thursday, August 8th. Finally, BMO Capital Markets raised their target price on shares of Corpay from $350.00 to $390.00 and gave the stock an "outperform" rating in a report on Thursday, October 3rd. Three analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $353.33.

Corpay Stock Down 1.3 %

CPAY stock traded down $4.56 during midday trading on Monday, hitting $348.95. 374,750 shares of the company's stock were exchanged, compared to its average volume of 463,617. The stock has a market capitalization of $24.52 billion, a price-to-earnings ratio of 26.30, a price-to-earnings-growth ratio of 1.33 and a beta of 1.22. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 1.74. The firm has a 50 day moving average price of $312.40 and a 200-day moving average price of $292.18. Corpay has a 12-month low of $220.39 and a 12-month high of $355.47.

Corpay (NYSE:CPAY - Get Free Report) last issued its earnings results on Wednesday, August 7th. The company reported $4.55 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.51 by $0.04. Corpay had a net margin of 26.41% and a return on equity of 38.93%. The business had revenue of $975.70 million for the quarter, compared to analyst estimates of $973.84 million. During the same quarter in the prior year, the business posted $3.85 EPS. The company's revenue for the quarter was up 2.9% on a year-over-year basis. On average, analysts anticipate that Corpay will post 17.83 EPS for the current year.

Institutional Investors Weigh In On Corpay

A number of hedge funds have recently bought and sold shares of CPAY. Chevy Chase Trust Holdings LLC bought a new position in Corpay during the first quarter valued at about $12,335,000. Empirical Finance LLC acquired a new position in shares of Corpay in the 1st quarter worth approximately $829,000. BI Asset Management Fondsmaeglerselskab A S bought a new position in Corpay in the 1st quarter valued at $1,013,000. Agate Pass Investment Management LLC bought a new position in Corpay in the 1st quarter valued at $3,937,000. Finally, EP Wealth Advisors LLC acquired a new position in Corpay in the first quarter worth $949,000. 98.84% of the stock is currently 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.