Corpay, Inc. (NYSE:CPAY) Given Consensus Recommendation of “Moderate Buy” by Analysts

Corpay, Inc. (NYSE:CPAY) has been assigned a consensus recommendation of “Moderate Buy” from the fifteen analysts that are currently covering the stock, MarketBeat reports. Three analysts have rated the stock with a hold recommendation, eleven have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $399.71.

A number of analysts have commented on the stock. BMO Capital Markets boosted their price target on shares of Corpay from $400.00 to $440.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Wells Fargo & Company boosted their target price on Corpay from $340.00 to $375.00 and gave the stock an “equal weight” rating in a report on Thursday, January 16th. Morgan Stanley increased their price target on Corpay from $350.00 to $380.00 and gave the company an “equal weight” rating in a research note on Thursday, February 6th. Wolfe Research raised Corpay from a “peer perform” rating to an “outperform” rating and set a $420.00 price objective on the stock in a research note on Wednesday, January 8th. Finally, Citigroup assumed coverage on Corpay in a research note on Tuesday, January 14th. They set a “buy” rating and a $430.00 target price for the company.

Corpay Stock Performance

Shares of NYSE CPAY opened at $346.79 on Friday. Corpay has a 12-month low of $247.10 and a 12-month high of $400.81. The company has a current ratio of 1.00, a quick ratio of 1.05 and a debt-to-equity ratio of 1.66. The company has a market cap of $24.36 billion, a PE ratio of 24.81, a P/E/G ratio of 1.32 and a beta of 1.25. The stock has a 50 day simple moving average of $363.75 and a 200-day simple moving average of $351.85.

Corpay (NYSE:CPAY) last released its quarterly earnings results on Wednesday, February 5th. The company reported $4.96 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.37 by ($0.41). Corpay had a return on equity of 41.46% and a net margin of 25.25%. On average, equities research analysts forecast that Corpay will post 19.76 EPS for the current year.

Insiders Place Their Bets

In related news, Director Richard Macchia sold 2,427 shares of the company’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $375.23, for a total value of $910,683.21. Following the completion of the sale, the director now owns 12,215 shares in the company, valued at approximately $4,583,434.45. This represents a 16.58 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 6.10% of the company’s stock.

Hedge Funds Weigh In On Corpay

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Colonial Trust Co SC boosted its position in shares of Corpay by 120.5% in the fourth quarter. Colonial Trust Co SC now owns 97 shares of the company’s stock worth $33,000 after buying an additional 53 shares during the period. Avion Wealth lifted its stake in Corpay by 1,011.1% in the 4th quarter. Avion Wealth now owns 100 shares of the company’s stock worth $33,000 after acquiring an additional 91 shares in the last quarter. Versant Capital Management Inc boosted its position in Corpay by 130.4% during the 4th quarter. Versant Capital Management Inc now owns 106 shares of the company’s stock worth $36,000 after acquiring an additional 60 shares during the period. Spire Wealth Management acquired a new position in shares of Corpay in the 4th quarter valued at about $42,000. Finally, Assetmark Inc. lifted its position in shares of Corpay by 93.8% in the fourth quarter. Assetmark Inc. now owns 124 shares of the company’s stock worth $42,000 after purchasing an additional 60 shares in the last quarter. 98.84% of the stock is currently owned by hedge funds and other institutional investors.

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.