Corpay (NYSE:CPAY) Given New $375.00 Price Target at Bank of America

Corpay (NYSE:CPAY) had its target price hoisted by equities researchers at Bank of America from $344.00 to $375.00 in a report released on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Bank of America‘s price objective would indicate a potential upside of 9.32% from the stock’s current price.

Several other research analysts have also recently issued reports on CPAY. Raymond James cut their target price on Corpay from $330.00 to $311.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Evercore ISI lowered their target price on shares of Corpay from $350.00 to $345.00 and set an “outperform” rating for the company in a report on Tuesday, June 25th. BMO Capital Markets boosted their price target on shares of Corpay from $350.00 to $390.00 and gave the stock an “outperform” rating in a report on Thursday, October 3rd. JPMorgan Chase & Co. increased their price objective 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. Finally, Jefferies Financial Group upped their target price on Corpay from $350.00 to $375.00 and gave the company a “buy” rating in a report on Wednesday, September 18th. Three research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $346.25.

Corpay Stock Up 1.2 %

NYSE CPAY traded up $4.16 during mid-day trading on Tuesday, hitting $343.03. The company’s stock had a trading volume of 209,697 shares, compared to its average volume of 462,230. 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 company’s 50 day simple moving average is $306.81 and its 200 day simple moving average is $291.12. Corpay has a twelve month low of $220.39 and a twelve month high of $343.86. The firm has a market capitalization of $24.10 billion, a price-to-earnings ratio of 25.50, a PEG ratio of 1.33 and a beta of 1.22.

Corpay (NYSE:CPAY) last posted its earnings results on Wednesday, August 7th. The company reported $4.55 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 company 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 firm posted $3.85 earnings per share. The firm’s revenue for the quarter was up 2.9% on a year-over-year basis. Analysts anticipate that Corpay will post 17.83 earnings per share for the current year.

Hedge Funds Weigh In On Corpay

A number of large investors have recently made changes to their positions in CPAY. Mather Group LLC. lifted its holdings in Corpay by 21.2% during the 3rd quarter. Mather Group LLC. now owns 200 shares of the company’s stock worth $63,000 after purchasing an additional 35 shares in the last quarter. Epic Trust Investment Advisors LLC grew its stake in Corpay by 4.1% during the second quarter. Epic Trust Investment Advisors LLC now owns 998 shares of the company’s stock valued at $266,000 after acquiring an additional 39 shares in the last quarter. Massmutual Trust Co. FSB ADV lifted its stake in Corpay by 21.6% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 242 shares of the company’s stock worth $64,000 after purchasing an additional 43 shares in the last quarter. Sequoia Financial Advisors LLC grew its position in shares of Corpay by 4.3% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 1,320 shares of the company’s stock valued at $352,000 after purchasing an additional 54 shares in the last quarter. Finally, Capital Insight Partners LLC increased its holdings in shares of Corpay by 2.5% in the second quarter. Capital Insight Partners LLC now owns 2,255 shares of the company’s stock worth $601,000 after purchasing an additional 55 shares during the period. 98.84% of the stock is 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.