Corpay (NYSE:CPAY) PT Raised to $390.00 at BMO Capital Markets

Corpay (NYSE:CPAY) had its target price upped by research analysts at BMO Capital Markets from $350.00 to $390.00 in a research report issued on Thursday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. BMO Capital Markets’ price objective points to a potential upside of 17.82% from the company’s current price.

Several other analysts have also commented on CPAY. Wells Fargo & Company initiated coverage on shares of Corpay in a research report on Wednesday, June 5th. They set an “equal weight” rating and a $285.00 price target on the stock. Royal Bank of Canada restated a “sector perform” rating and issued a $310.00 price objective on shares of Corpay in a report on Thursday, August 8th. Jefferies Financial Group increased their target price on shares of Corpay from $350.00 to $375.00 and gave the stock a “buy” rating in a research note on Wednesday, September 18th. JPMorgan Chase & Co. boosted their price target on shares of Corpay from $327.00 to $353.00 and gave the company an “overweight” rating in a research note on Tuesday, August 20th. Finally, William Blair raised shares of Corpay to a “strong-buy” rating in a research report on Thursday, August 8th. 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 company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $337.92.

Corpay Stock Up 3.8 %

Corpay stock opened at $331.01 on Thursday. The business’s fifty day simple moving average is $300.62. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.02 and a quick ratio of 1.02. The stock has a market capitalization of $23.26 billion, a price-to-earnings ratio of 24.63, a price-to-earnings-growth ratio of 1.24 and a beta of 1.22. Corpay has a 52-week low of $220.39 and a 52-week high of $331.10.

Corpay (NYSE:CPAY) last posted its quarterly 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. Corpay had a return on equity of 38.93% and a net margin of 26.41%. The business had revenue of $975.70 million during the quarter, compared to analyst estimates of $973.84 million. During the same period in the prior year, the business earned $3.85 earnings per share. The business’s revenue was up 2.9% compared to the same quarter last year. On average, research analysts anticipate that Corpay will post 17.83 EPS for the current fiscal year.

Hedge Funds Weigh In On Corpay

A number of hedge funds and other institutional investors have recently made changes to their positions in CPAY. Epic Trust Investment Advisors LLC increased its position in Corpay by 4.1% during the 2nd quarter. Epic Trust Investment Advisors LLC now owns 998 shares of the company’s stock worth $266,000 after purchasing an additional 39 shares during the period. Massmutual Trust Co. FSB ADV grew its stake in shares of Corpay by 21.6% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 242 shares of the company’s stock worth $64,000 after purchasing an additional 43 shares during the period. Sequoia Financial Advisors LLC increased its holdings in shares of Corpay by 4.3% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 1,320 shares of the company’s stock valued at $352,000 after purchasing an additional 54 shares in the last quarter. Capital Insight Partners LLC lifted its stake in shares of Corpay by 2.5% in the second quarter. Capital Insight Partners LLC now owns 2,255 shares of the company’s stock valued at $601,000 after purchasing an additional 55 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in Corpay by 0.9% during the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 7,754 shares of the company’s stock worth $2,066,000 after buying an additional 71 shares in the last quarter. Hedge funds and other 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.