Corpay (NYSE:CPAY) Price Target Raised to $375.00

Corpay (NYSE:CPAY) had its target price raised by Jefferies Financial Group from $350.00 to $375.00 in a research note released on Wednesday, Benzinga reports. They currently have a buy rating on the stock.

Several other brokerages have also issued reports on CPAY. William Blair raised shares of Corpay to a strong-buy rating in a report on Thursday, August 8th. Wolfe Research upgraded Corpay from an underperform rating to a peer perform rating in a report on Tuesday, September 3rd. JPMorgan Chase & Co. upped their price objective on Corpay from $327.00 to $353.00 and gave the stock an overweight rating in a research note on Tuesday, August 20th. Bank of America cut their target price on Corpay from $331.00 to $310.00 and set a buy rating on the stock in a research note on Thursday, August 8th. Finally, Raymond James decreased their price target 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. Three equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus target price of $334.58.

Corpay Stock Down 1.8 %

Shares of NYSE CPAY opened at $307.21 on Wednesday. Corpay has a twelve month low of $220.39 and a twelve month high of $319.94. The company has a market cap of $21.59 billion, a price-to-earnings ratio of 22.86, a PEG ratio of 1.22 and a beta of 1.22. The firm’s fifty day moving average price is $296.06. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 1.74.

Corpay (NYSE:CPAY) last released its quarterly earnings data on Wednesday, August 7th. The company reported $4.55 earnings per share for the quarter, beating the consensus estimate of $4.51 by $0.04. Corpay had a return on equity of 38.93% and a net margin of 26.41%. The firm had revenue of $975.70 million during the quarter, compared to the consensus estimate of $973.84 million. During the same period in the previous year, the company posted $3.85 earnings per share. The firm’s quarterly revenue was up 2.9% on a year-over-year basis. On average, research analysts expect that Corpay will post 17.81 earnings per share for the current year.

Hedge Funds Weigh In On Corpay

Several hedge funds have recently made changes to their positions in CPAY. Chevy Chase Trust Holdings LLC acquired a new position in shares of Corpay in the first quarter valued at about $12,335,000. Empirical Finance LLC purchased a new position in Corpay during the 1st quarter worth approximately $829,000. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in Corpay during the 1st quarter valued at approximately $1,013,000. Agate Pass Investment Management LLC purchased a new stake in shares of Corpay in the 1st quarter valued at $3,937,000. Finally, EP Wealth Advisors LLC acquired a new stake in shares of Corpay in the first quarter worth $949,000. 98.84% of the stock is owned by institutional investors and hedge funds.

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.