Corpay (NYSE:CPAY) Sets New 1-Year High on Analyst Upgrade

Corpay, Inc. (NYSE:CPAY) shares hit a new 52-week high during mid-day trading on Thursday after Royal Bank of Canada raised their price target on the stock from $354.00 to $400.00. Royal Bank of Canada currently has a sector perform rating on the stock. Corpay traded as high as $400.68 and last traded at $391.99, with a volume of 118109 shares traded. The stock had previously closed at $388.67.

A number of other research firms have also weighed in on CPAY. Wolfe Research raised Corpay from a “peer perform” rating to an “outperform” rating and set a $420.00 target price for the company in a research note on Wednesday, January 8th. Barclays increased their price target on shares of Corpay from $385.00 to $415.00 and gave the company an “overweight” rating in a research report on Monday, October 28th. BMO Capital Markets upped their price objective on shares of Corpay from $400.00 to $440.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Bank of America boosted their price target on Corpay from $344.00 to $375.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. Finally, Wells Fargo & Company raised their price target on Corpay from $340.00 to $375.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 16th. Three equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Corpay currently has an average rating of “Moderate Buy” and an average target price of $399.71.

Insider Buying and Selling

In other news, CAO Alissa B. Vickery sold 8,000 shares of the firm’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $370.04, for a total transaction of $2,960,320.00. Following the completion of the transaction, the chief accounting officer now directly owns 1,797 shares in the company, valued at $664,961.88. This trade represents a 81.66 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Joseph W. Farrelly sold 2,975 shares of the company’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $375.18, for a total transaction of $1,116,160.50. Following the completion of the transaction, the director now owns 10,530 shares in the company, valued at approximately $3,950,645.40. The trade was a 22.03 % decrease in their position. The disclosure for this sale can be found here. 6.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Corpay

Institutional investors have recently made changes to their positions in the company. Albion Financial Group UT bought a new position in Corpay in the 3rd quarter valued at approximately $27,000. Avion Wealth raised its stake in shares of Corpay by 1,011.1% in the fourth quarter. Avion Wealth now owns 100 shares of the company’s stock worth $33,000 after purchasing an additional 91 shares during the last quarter. Versant Capital Management Inc lifted its holdings in shares of Corpay by 130.4% during the fourth quarter. Versant Capital Management Inc now owns 106 shares of the company’s stock valued at $36,000 after purchasing an additional 60 shares in the last quarter. Huntington National Bank boosted its position in shares of Corpay by 43.0% during the third quarter. Huntington National Bank now owns 133 shares of the company’s stock valued at $42,000 after buying an additional 40 shares during the last quarter. Finally, Quarry LP bought a new stake in Corpay in the 3rd quarter worth about $42,000. Hedge funds and other institutional investors own 98.84% of the company’s stock.

Corpay Trading Down 3.6 %

The stock has a 50-day simple moving average of $361.72 and a two-hundred day simple moving average of $335.59. The company has a debt-to-equity ratio of 1.69, a quick ratio of 1.05 and a current ratio of 1.05. The firm has a market cap of $26.18 billion, a PE ratio of 26.79, a price-to-earnings-growth ratio of 1.30 and a beta of 1.28.

Corpay (NYSE:CPAY) last issued its earnings results on Wednesday, February 5th. The company reported $4.96 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.37 by ($0.41). Corpay had a return on equity of 39.44% and a net margin of 26.14%. As a group, sell-side analysts anticipate that Corpay, Inc. will post 17.84 EPS for the current year.

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.