Corpay (NYSE:CPAY) Hits New 52-Week High – What’s Next?

Corpay, Inc. (NYSE:CPAY)’s stock price reached a new 52-week high during mid-day trading on Friday . The company traded as high as $368.12 and last traded at $368.00, with a volume of 44974 shares trading hands. The stock had previously closed at $346.50.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $310.00 price target on shares of Corpay in a report on Thursday, August 8th. Barclays raised their target price on shares of Corpay from $385.00 to $415.00 and gave the stock an “overweight” rating in a research note on Monday, October 28th. Jefferies Financial Group boosted their price target on shares of Corpay from $375.00 to $425.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. JPMorgan Chase & Co. raised their price objective on shares of Corpay from $327.00 to $353.00 and gave the company an “overweight” rating in a research report on Tuesday, August 20th. Finally, William Blair upgraded Corpay to a “strong-buy” rating in a research report on Thursday, August 8th. Four investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $353.46.

Corpay Trading Up 6.9 %

The business’s 50-day simple moving average is $324.21 and its 200-day simple moving average is $295.70. The company has a market cap of $25.71 billion, a price-to-earnings ratio of 25.18, a PEG ratio of 1.30 and a beta of 1.21. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.02 and a quick ratio of 1.02.

Corpay (NYSE:CPAY) last posted its earnings results on Wednesday, August 7th. The company reported $4.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.51 by $0.04. The firm had revenue of $975.70 million for the quarter, compared to analyst estimates of $973.84 million. Corpay had a return on equity of 38.93% and a net margin of 26.41%. Corpay’s revenue was up 2.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.85 EPS. Research analysts predict that Corpay, Inc. will post 17.96 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Corpay

A number of hedge funds and other institutional investors have recently modified their holdings of CPAY. Vanguard Group Inc. purchased a new position in shares of Corpay during the 1st quarter worth about $2,431,089,000. JPMorgan Chase & Co. acquired a new stake in Corpay during the first quarter worth about $1,429,445,000. Price T Rowe Associates Inc. MD acquired a new stake in Corpay during the first quarter worth about $1,355,377,000. Boston Partners purchased a new position in shares of Corpay in the 1st quarter worth about $553,667,000. Finally, Sustainable Growth Advisers LP acquired a new position in shares of Corpay in the 1st quarter valued at about $553,279,000. 98.84% of the stock is currently owned by hedge funds and other 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.