Corpay (NYSE:CPAY) Price Target Raised to $550.00

Corpay (NYSE:CPAY) had its price objective boosted by Cantor Fitzgerald from $480.00 to $550.00 in a research note issued to investors on Monday,Benzinga reports. Cantor Fitzgerald currently has an overweight rating on the corporate payments company’s stock.

Other equities analysts also recently issued reports about the stock. Wall Street Zen downgraded shares of Corpay from a “buy” rating to a “hold” rating in a report on Saturday, October 24th. Oppenheimer upped their price objective on shares of Corpay from $454.00 to $461.00 and gave the stock an “outperform” rating in a research note on Thursday, November 5th. Morgan Stanley upped their price objective on shares of Corpay from $455.00 to $460.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 28th. Wolfe Research boosted their target price on Corpay from $475.00 to $530.00 and gave the stock an “outperform” rating in a report on Tuesday, August 25th. Finally, Royal Bank Of Canada boosted their target price on Corpay from $438.00 to $474.00 and gave the stock a “sector perform” rating in a report on Thursday, November 5th. Eleven analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $474.38.

Corpay Price Performance

Shares of CPAY stock opened at $462.24 on Monday. The stock’s fifty day simple moving average is $408.28 and its 200 day simple moving average is $361.93. The company has a debt-to-equity ratio of 1.82, a current ratio of 0.95 and a quick ratio of 0.95. The firm has a market cap of $29.57 billion, a price-to-earnings ratio of 25.43, a P/E/G ratio of 1.04 and a beta of 0.94. Corpay has a one year low of $271.22 and a one year high of $479.53.

Corpay (NYSE:CPAY) last released its quarterly earnings data on Wednesday, November 4th. The corporate payments company reported $7.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.20 by $0.34. The firm had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.36 billion. Corpay had a return on equity of 46.94% and a net margin of 23.73%. The business’s revenue for the quarter was up 17.9% compared to the same quarter last year. During the same period in the prior year, the company posted $5.70 earnings per share. On average, analysts expect that Corpay will post 26.52 earnings per share for the current fiscal year.

Insider Activity

In other Corpay news, Director Steven Stull sold 2,357 shares of the business’s stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $413.62, for a total value of $974,902.34. Following the completion of the transaction, the director directly owned 21,241 shares of the company’s stock, valued at approximately $8,785,702.42. The trade was a 9.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Ronald Clarke sold 119,486 shares of the company’s stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $412.40, for a total transaction of $49,276,026.40. Following the transaction, the chief executive officer owned 2,354,330 shares in the company, valued at $970,925,692. The trade was a 4.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 220,860 shares of company stock valued at $91,395,514 in the last 90 days. Corporate insiders own 5.19% of the company’s stock.

Institutional Trading of Corpay

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Advisors Asset Management Inc. acquired a new stake in shares of Corpay during the third quarter worth $5,564,000. GW&K Investment Management LLC boosted its position in shares of Corpay by 124.0% during the third quarter. GW&K Investment Management LLC now owns 701 shares of the corporate payments company’s stock worth $269,000 after purchasing an additional 388 shares in the last quarter. Private Wealth Asset Management LLC acquired a new position in Corpay in the third quarter valued at about $819,000. Ieq Capital LLC grew its position in shares of Corpay by 92.7% in the 3rd quarter. Ieq Capital LLC now owns 69,484 shares of the corporate payments company’s stock valued at $25,800,000 after purchasing an additional 33,423 shares during the period. Finally, Focus Advisor Solutions LLC increased its position in shares of Corpay by 300.1% during the third quarter. Focus Advisor Solutions LLC now owns 9,499 shares of the corporate payments company’s stock worth $3,524,000 after acquiring an additional 7,125 shares in the last quarter. 98.84% of the stock is owned by institutional investors.

Corpay Company Profile

Corpay is a global corporate payments company that provides businesses with a range of payment and expense management solutions. Its services are designed to help organizations manage payables, card programs, travel and fleet-related expenses, and cross-border transactions more efficiently. The company serves customers across a variety of industries and geographies, offering software and payment tools that streamline accounts payable, vendor payments, and workforce payments. Corpay also provides specialized solutions for fleet management and international payments, helping businesses control costs and simplify financial operations.