Corpay (NYSE:CPAY) Price Target Lowered to $400.00 at Keefe, Bruyette & Woods

Corpay (NYSE:CPAY) had its price target cut by Keefe, Bruyette & Woods from $445.00 to $400.00 in a research note released on Wednesday morning,Benzinga reports. They currently have an outperform rating on the stock.

Other equities research analysts have also issued reports about the company. UBS Group reduced their price target on Corpay from $365.00 to $340.00 and set a “neutral” rating for the company in a report on Thursday, August 7th. Wall Street Zen upgraded Corpay from a “hold” rating to a “buy” rating in a report on Sunday, September 28th. Raymond James Financial set a $392.00 price target on Corpay and gave the company an “outperform” rating in a report on Thursday, August 7th. Robert W. Baird set a $440.00 target price on Corpay in a report on Tuesday, June 10th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Corpay in a research report on Thursday, July 17th. They set a “buy” rating and a $390.00 target price for the company. Ten equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, Corpay presently has a consensus rating of “Moderate Buy” and an average target price of $396.21.

Corpay Trading Up 0.6%

Shares of CPAY stock opened at $288.61 on Wednesday. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 1.48. The stock has a 50-day simple moving average of $311.99 and a 200 day simple moving average of $323.34. Corpay has a fifty-two week low of $269.02 and a fifty-two week high of $400.81. The stock has a market capitalization of $20.38 billion, a P/E ratio of 19.61, a P/E/G ratio of 1.09 and a beta of 0.97.

Corpay (NYSE:CPAY) last announced its earnings results on Wednesday, August 6th. The company reported $5.13 EPS for the quarter, topping the consensus estimate of $5.11 by $0.02. The company had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.09 billion. Corpay had a net margin of 25.17% and a return on equity of 39.13%. The business’s revenue for the quarter was up 12.9% on a year-over-year basis. During the same period last year, the company posted $4.55 earnings per share. On average, sell-side analysts expect that Corpay will post 19.76 earnings per share for the current fiscal year.

Institutional Trading of Corpay

Hedge funds and other institutional investors have recently made changes to their positions in the business. Atria Wealth Solutions Inc. raised its stake in shares of Corpay by 4.7% during the 2nd quarter. Atria Wealth Solutions Inc. now owns 695 shares of the company’s stock worth $231,000 after purchasing an additional 31 shares in the last quarter. Meeder Advisory Services Inc. raised its stake in shares of Corpay by 5.0% during the 1st quarter. Meeder Advisory Services Inc. now owns 678 shares of the company’s stock worth $236,000 after purchasing an additional 32 shares in the last quarter. Townsquare Capital LLC raised its stake in shares of Corpay by 0.7% during the 1st quarter. Townsquare Capital LLC now owns 4,520 shares of the company’s stock worth $1,576,000 after purchasing an additional 32 shares in the last quarter. Wedmont Private Capital raised its stake in shares of Corpay by 3.2% during the 1st quarter. Wedmont Private Capital now owns 1,110 shares of the company’s stock worth $387,000 after purchasing an additional 34 shares in the last quarter. Finally, Fulton Bank N.A. increased its holdings in shares of Corpay by 2.1% during the 1st quarter. Fulton Bank N.A. now owns 1,665 shares of the company’s stock worth $581,000 after acquiring an additional 34 shares during the last quarter. 98.84% of the stock is currently owned by institutional investors and hedge funds.

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.