Jefferies Financial Group Raises Corpay (NYSE:CPAY) Price Target to $425.00

Corpay (NYSE:CPAY) had its target price increased by Jefferies Financial Group from $375.00 to $425.00 in a research note published on Wednesday morning, Benzinga reports. The firm currently has a buy rating on the stock.

CPAY has been the subject of a number of other research reports. William Blair raised shares of Corpay to a “strong-buy” rating in a report on Thursday, August 8th. BMO Capital Markets increased their target price on shares of Corpay from $350.00 to $390.00 and gave the stock an “outperform” rating in a report on Thursday, October 3rd. Evercore ISI dropped 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. Bank of America increased their target price on shares of Corpay from $344.00 to $375.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, JPMorgan Chase & Co. increased their target price on shares of Corpay from $327.00 to $353.00 and gave the stock an “overweight” rating in a report on Tuesday, August 20th. Three investment 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 stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $350.42.

Corpay Trading Up 0.9 %

Shares of Corpay stock opened at $353.51 on Wednesday. The company has a market capitalization of $24.84 billion, a price-to-earnings ratio of 26.30, a PEG ratio of 1.33 and a beta of 1.22. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 1.74. Corpay has a 12-month low of $220.39 and a 12-month high of $355.47. The firm’s 50-day moving average price is $312.40 and its two-hundred day moving average price is $292.47.

Corpay (NYSE:CPAY) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $4.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.51 by $0.04. The firm had revenue of $975.70 million for the quarter, compared to the consensus estimate of $973.84 million. Corpay had a net margin of 26.41% and a return on equity of 38.93%. The business’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same period in the prior year, the company posted $3.85 earnings per share. On average, analysts forecast that Corpay will post 17.83 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC raised its holdings in Corpay by 15.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 20,228 shares of the company’s stock worth $6,327,000 after purchasing an additional 2,751 shares during the last quarter. First Citizens Bank & Trust Co. raised its holdings in Corpay by 6.5% during the 3rd quarter. First Citizens Bank & Trust Co. now owns 1,792 shares of the company’s stock worth $560,000 after purchasing an additional 109 shares during the last quarter. Blue Trust Inc. raised its holdings in Corpay by 299.3% during the 3rd quarter. Blue Trust Inc. now owns 539 shares of the company’s stock worth $169,000 after purchasing an additional 404 shares during the last quarter. Generate Investment Management Ltd raised its holdings in Corpay by 33.8% during the 3rd quarter. Generate Investment Management Ltd now owns 98,156 shares of the company’s stock worth $30,699,000 after purchasing an additional 24,810 shares during the last quarter. Finally, Inspire Advisors LLC raised its holdings in Corpay by 6.0% during the 3rd quarter. Inspire Advisors LLC now owns 1,876 shares of the company’s stock worth $587,000 after purchasing an additional 107 shares during the last quarter. Institutional investors own 98.84% of the company’s stock.

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.