Corpay’s (CPAY) Outperform Rating Reiterated at Raymond James

Raymond James reiterated their outperform rating on shares of Corpay (NYSE:CPAY) in a research report released on Wednesday,Benzinga reports. Raymond James currently has a $414.00 price target on the stock, down from their previous price target of $417.00.

Several other brokerages have also issued reports on CPAY. Oppenheimer assumed coverage on Corpay in a research note on Monday, April 28th. They issued a “market perform” rating for the company. Citigroup started coverage on Corpay in a report on Tuesday, January 14th. They issued a “buy” rating and a $430.00 price objective on the stock. UBS Group reduced their price target on Corpay from $400.00 to $365.00 and set a “neutral” rating on the stock in a research report on Wednesday. Wolfe Research upgraded Corpay from a “peer perform” rating to an “outperform” rating and set a $420.00 price objective for the company in a research report on Wednesday, January 8th. Finally, Morgan Stanley raised their target price 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. Five research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $395.07.

Corpay Stock Performance

Shares of CPAY opened at $327.13 on Wednesday. Corpay has a 12-month low of $247.10 and a 12-month high of $400.81. The company has a current ratio of 1.00, a quick ratio of 1.05 and a debt-to-equity ratio of 1.66. The company has a market cap of $22.98 billion, a PE ratio of 23.40, a price-to-earnings-growth ratio of 1.32 and a beta of 0.98. The stock has a 50-day moving average price of $326.84 and a 200-day moving average price of $349.93.

Corpay (NYSE:CPAY) last released its quarterly earnings results on Tuesday, May 6th. The company reported $4.51 EPS for the quarter, topping analysts’ consensus estimates of $4.50 by $0.01. The business had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $1.02 billion. Corpay had a net margin of 25.25% and a return on equity of 41.46%. The business’s quarterly revenue was up 7.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $4.10 EPS. As a group, equities analysts forecast that Corpay will post 19.76 earnings per share for the current fiscal year.

Insider Activity at Corpay

In other Corpay news, Director Richard Macchia sold 2,427 shares of the firm’s stock in a transaction on Monday, February 10th. The stock was 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 approximately $4,583,434.45. This trade represents a 16.58 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 6.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. Deutsche Bank AG increased its stake in shares of Corpay by 1.4% during the first quarter. Deutsche Bank AG now owns 266,206 shares of the company’s stock valued at $92,831,000 after purchasing an additional 3,791 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Corpay by 3.6% during the first quarter. Charles Schwab Investment Management Inc. now owns 492,399 shares of the company’s stock valued at $171,709,000 after buying an additional 16,941 shares during the last quarter. ASR Vermogensbeheer N.V. bought a new stake in Corpay in the first quarter worth $491,000. Vanguard Group Inc. grew its stake in shares of Corpay by 1.5% in the first quarter. Vanguard Group Inc. now owns 7,872,786 shares of the company’s stock worth $2,745,398,000 after acquiring an additional 119,987 shares during the last quarter. Finally, Raiffeisen Bank International AG bought a new position in shares of Corpay during the first quarter valued at $3,099,000. 98.84% of the stock is owned by hedge funds and other 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.