Corpay (NYSE:CPAY) Given New $415.00 Price Target at Barclays

Corpay (NYSE:CPAY) had its target price boosted by Barclays from $385.00 to $415.00 in a research note published on Monday, Benzinga reports. Barclays currently has an overweight rating on the stock.

Several other analysts have also recently commented on CPAY. Jefferies Financial Group lifted their price target on Corpay from $375.00 to $425.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Royal Bank of Canada restated a “sector perform” rating and issued a $310.00 price target on shares of Corpay 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. Raymond James lowered their price target on Corpay from $330.00 to $311.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Finally, BMO Capital Markets lifted their price objective on Corpay from $350.00 to $390.00 and gave the company an “outperform” rating in a research note on Thursday, October 3rd. Three research 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. Based on data from MarketBeat.com, Corpay presently has an average rating of “Moderate Buy” and an average target price of $355.83.

Corpay Trading Down 0.5 %

Corpay stock opened at $338.92 on Monday. The stock has a market cap of $23.82 billion, a PE ratio of 25.22, a P/E/G ratio of 1.39 and a beta of 1.22. The stock has a 50-day moving average price of $319.30 and a 200 day moving average price of $293.90. Corpay has a 52 week low of $220.39 and a 52 week high of $355.47. 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 posted its quarterly earnings data on Wednesday, August 7th. The company reported $4.55 EPS for the quarter, topping analysts’ consensus estimates of $4.51 by $0.04. The firm had revenue of $975.70 million during the quarter, compared to analysts’ expectations of $973.84 million. Corpay had a return on equity of 38.93% and a net margin of 26.41%. The firm’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same quarter last year, the business posted $3.85 EPS. Equities research analysts predict that Corpay will post 17.83 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Corpay

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Chevy Chase Trust Holdings LLC acquired a new position in shares of Corpay in the 1st quarter valued at approximately $12,335,000. Empirical Finance LLC acquired a new position in shares of Corpay in the 1st quarter valued at approximately $829,000. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of Corpay in the 1st quarter valued at approximately $1,013,000. EP Wealth Advisors LLC acquired a new position in shares of Corpay in the 1st quarter valued at approximately $949,000. Finally, Swedbank AB raised its position in shares of Corpay by 26.9% in the 2nd quarter. Swedbank AB now owns 127,217 shares of the company’s stock valued at $33,892,000 after purchasing an additional 27,000 shares in the last quarter. 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.