Raymond James Lowers Corpay (NYSE:CPAY) Price Target to $417.00

Corpay (NYSE:CPAY) had its target price dropped by analysts at Raymond James from $434.00 to $417.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Raymond James’ target price suggests a potential upside of 11.04% from the stock’s previous close.

A number of other brokerages have also recently commented on CPAY. Citigroup initiated coverage on Corpay in a research report on Tuesday, January 14th. They issued a “buy” rating and a $430.00 price target on the stock. Royal Bank of Canada lifted their target price on Corpay from $354.00 to $400.00 and gave the company a “sector perform” rating in a research report on Thursday. Jefferies Financial Group lifted their target price on Corpay from $375.00 to $425.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. BMO Capital Markets lifted their target price on Corpay from $400.00 to $440.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Finally, Bank of America lifted their target price on Corpay from $344.00 to $375.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. Three investment 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’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $399.71.

Corpay Stock Down 3.6 %

Shares of NYSE CPAY opened at $375.53 on Thursday. The company has a debt-to-equity ratio of 1.69, a quick ratio of 1.05 and a current ratio of 1.05. Corpay has a 52 week low of $247.10 and a 52 week high of $400.81. The stock has a market capitalization of $26.18 billion, a P/E ratio of 26.79, a PEG ratio of 1.30 and a beta of 1.28. The stock’s fifty day moving average is $361.72 and its 200 day moving average is $335.59.

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

Insider Activity

In related news, CAO Alissa B. Vickery sold 8,000 shares of Corpay stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $370.04, for a total value of $2,960,320.00. Following the transaction, the chief accounting officer now directly owns 1,797 shares of the company’s stock, valued at $664,961.88. The trade was a 81.66 % decrease in their ownership of the stock. The transaction 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 Corpay stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $375.18, for a total value of $1,116,160.50. Following the completion of the transaction, the director now directly owns 10,530 shares in the company, valued at approximately $3,950,645.40. This represents a 22.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 6.10% of the company’s stock.

Hedge Funds Weigh In On Corpay

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Swedbank AB increased its holdings in Corpay by 46.3% in the third quarter. Swedbank AB now owns 186,117 shares of the company’s stock worth $58,210,000 after purchasing an additional 58,900 shares in the last quarter. Oppenheimer Asset Management Inc. increased its holdings in Corpay by 66.7% in the third quarter. Oppenheimer Asset Management Inc. now owns 5,888 shares of the company’s stock worth $1,842,000 after purchasing an additional 2,355 shares in the last quarter. Retireful LLC bought a new stake in Corpay in the third quarter worth approximately $702,000. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in Corpay in the third quarter worth approximately $527,000. Finally, Banco Santander S.A. bought a new stake in Corpay in the third quarter worth approximately $668,000. 98.84% of the stock is owned by institutional investors and hedge funds.

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.