Corpay (NYSE:CPAY) Price Target Increased to $425.00 by Analysts at Jefferies Financial Group

Corpay (NYSE:CPAY) had its price objective lifted by equities researchers at Jefferies Financial Group from $375.00 to $425.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Jefferies Financial Group’s price target would suggest a potential upside of 22.59% from the stock’s previous close.

CPAY has been the topic of a number of other research reports. Evercore ISI decreased their price objective on shares of Corpay from $350.00 to $345.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 25th. William Blair upgraded Corpay to a “strong-buy” rating in a research note on Thursday, August 8th. Royal Bank of Canada reissued a “sector perform” rating and set a $310.00 price objective on shares of Corpay in a report on Thursday, August 8th. JPMorgan Chase & Co. raised their price target on Corpay from $327.00 to $353.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 20th. Finally, BMO Capital Markets increased their price objective on shares of Corpay from $350.00 to $390.00 and gave the stock an “outperform” rating in a research note on Thursday, October 3rd. Three investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Corpay has an average rating of “Moderate Buy” and an average target price of $350.42.

Corpay Price Performance

Shares of NYSE:CPAY traded up $4.13 during trading on Wednesday, reaching $346.67. The company had a trading volume of 352,457 shares, compared to its average volume of 462,541. The stock has a market capitalization of $24.36 billion, a P/E ratio of 25.67, a price-to-earnings-growth ratio of 1.33 and a beta of 1.22. The company has a current ratio of 1.02, a quick 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 $348.28. The company has a fifty day moving average of $308.24 and a two-hundred day moving average of $291.36.

Corpay (NYSE:CPAY) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $4.55 earnings per share for the quarter, topping the consensus estimate of $4.51 by $0.04. The business had revenue of $975.70 million during 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 firm’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same period in the previous year, the firm posted $3.85 earnings per share. Equities research analysts forecast that Corpay will post 17.83 earnings per share for the current year.

Institutional Trading of Corpay

Several hedge funds and other institutional investors have recently bought and sold shares of CPAY. Vontobel Holding Ltd. grew its holdings in Corpay by 6.4% during the 3rd quarter. Vontobel Holding Ltd. now owns 812 shares of the company’s stock valued at $254,000 after purchasing an additional 49 shares during the last quarter. Swedbank AB grew its stake in shares of Corpay by 46.3% during the third quarter. Swedbank AB now owns 186,117 shares of the company’s stock valued at $58,210,000 after buying an additional 58,900 shares during the last quarter. Birch Capital Management LLC raised its holdings in shares of Corpay by 4.9% in the third quarter. Birch Capital Management LLC now owns 7,485 shares of the company’s stock worth $2,341,000 after buying an additional 348 shares during the period. Creative Planning lifted its stake in shares of Corpay by 26.4% during the 3rd quarter. Creative Planning now owns 6,247 shares of the company’s stock worth $1,954,000 after acquiring an additional 1,305 shares during the last quarter. Finally, Exchange Traded Concepts LLC bought a new position in Corpay in the 3rd quarter valued at $55,000. Hedge funds and other institutional investors own 98.84% of the company’s stock.

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.