Corpay (NYSE:CPAY) Price Target Raised to $325.00

Corpay (NYSE:CPAY - Get Free Report) had its price objective lifted by investment analysts at Morgan Stanley from $275.00 to $325.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm presently has an "equal weight" rating on the stock. Morgan Stanley's target price indicates a potential downside of 2.11% from the company's current price.

A number of other brokerages also recently commented on CPAY. Barclays raised their target price on shares of Corpay from $385.00 to $415.00 and gave the company an "overweight" rating in a research note on Monday. Raymond James lowered their price objective on shares of Corpay from $330.00 to $311.00 and set an "outperform" rating for the company in a research report on Thursday, August 8th. Jefferies Financial Group upped their target price on shares of Corpay from $375.00 to $425.00 and gave the stock a "buy" rating in a research report on Wednesday, October 16th. William Blair upgraded shares of Corpay to a "strong-buy" rating in a report on Thursday, August 8th. Finally, JPMorgan Chase & Co. increased their target price on shares of Corpay from $327.00 to $353.00 and gave the company an "overweight" rating in a research note on Tuesday, August 20th. Four equities research analysts have rated the stock with a hold rating, nine 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 company presently has a consensus rating of "Moderate Buy" and a consensus price target of $353.46.

Corpay Stock Down 2.0 %

Shares of CPAY stock traded down $6.90 on Tuesday, reaching $332.02. 655,422 shares of the stock were exchanged, compared to its average volume of 467,454. 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 business's 50 day moving average price is $319.30 and its 200 day moving average price is $293.90. The company has a market capitalization of $23.33 billion, a price-to-earnings ratio of 25.22, a PEG ratio of 1.39 and a beta of 1.22. Corpay has a twelve month low of $220.39 and a twelve month high of $355.47.

Corpay (NYSE:CPAY - Get Free Report) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $4.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.51 by $0.04. Corpay had a net margin of 26.41% and a return on equity of 38.93%. The firm had revenue of $975.70 million during the quarter, compared to analysts' expectations of $973.84 million. During the same period in the prior year, the company posted $3.85 earnings per share. The firm's revenue for the quarter was up 2.9% on a year-over-year basis. As a group, sell-side analysts expect that Corpay will post 17.83 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Corpay

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CPAY. Whittier Trust Co. of Nevada Inc. grew its position in shares of Corpay by 22.7% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 184 shares of the company's stock worth $58,000 after buying an additional 34 shares during the period. Mather Group LLC. lifted its stake in Corpay by 21.2% in the third quarter. Mather Group LLC. now owns 200 shares of the company's stock valued at $63,000 after buying an additional 35 shares in the last quarter. Epic Trust Investment Advisors LLC lifted its stake in Corpay by 4.1% in the second quarter. Epic Trust Investment Advisors LLC now owns 998 shares of the company's stock valued at $266,000 after buying an additional 39 shares in the last quarter. Massmutual Trust Co. FSB ADV lifted its stake in Corpay by 21.6% in the second quarter. Massmutual Trust Co. FSB ADV now owns 242 shares of the company's stock valued at $64,000 after buying an additional 43 shares in the last quarter. Finally, Signaturefd LLC lifted its stake in Corpay by 22.3% in the third quarter. Signaturefd LLC now owns 252 shares of the company's stock valued at $79,000 after buying an additional 46 shares in the last quarter. 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.