Corpay (NYSE:CPAY) Price Target Cut to $417.00 by Analysts at Raymond James

Corpay (NYSE:CPAY) had its target price reduced by Raymond James from $434.00 to $417.00 in a report issued on Thursday morning,Benzinga reports. Raymond James currently has an outperform rating on the stock.

CPAY has been the topic of a number of other reports. Wolfe Research upgraded Corpay from a “peer perform” rating to an “outperform” rating and set a $420.00 target price on the stock in a research report on Wednesday, January 8th. Keefe, Bruyette & Woods upped their target price on shares of Corpay from $415.00 to $445.00 and gave the stock an “outperform” rating in a research note on Thursday. Citigroup started coverage on Corpay in a research report on Tuesday, January 14th. They issued a “buy” rating and a $430.00 price target for the company. Royal Bank of Canada lifted their target price on shares of Corpay from $354.00 to $400.00 and gave the stock a “sector perform” rating in a research note on Thursday. Finally, Jefferies Financial Group upped their target price on Corpay from $375.00 to $425.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Three analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $399.71.

Corpay Stock Up 0.2 %

NYSE CPAY opened at $389.35 on Thursday. The stock has a market capitalization of $27.14 billion, a PE ratio of 27.77, a PEG ratio of 1.30 and a beta of 1.28. The business’s 50-day moving average is $361.54 and its 200 day moving average is $335.21. Corpay has a 1 year low of $247.10 and a 1 year high of $400.81. The company has a debt-to-equity ratio of 1.69, a current ratio of 1.05 and a quick ratio of 1.05.

Corpay (NYSE:CPAY) last posted 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 39.44% and a net margin of 26.14%. Sell-side analysts forecast that Corpay will post 17.84 earnings per share for the current year.

Insider Buying and Selling at Corpay

In other news, CAO Alissa B. Vickery sold 8,000 shares of the stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $370.04, for a total transaction of $2,960,320.00. Following the completion of the transaction, the chief accounting officer now directly owns 1,797 shares in the company, valued at approximately $664,961.88. This represents a 81.66 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Joseph W. Farrelly sold 2,975 shares of the business’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $375.18, for a total transaction of $1,116,160.50. Following the completion of the sale, the director now owns 10,530 shares in the company, valued at approximately $3,950,645.40. This trade represents a 22.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 6.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On Corpay

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Albion Financial Group UT purchased a new stake in Corpay in the third quarter valued at approximately $27,000. Avion Wealth lifted its stake in Corpay by 1,011.1% during 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 holdings in Corpay by 130.4% during the 4th quarter. Versant Capital Management Inc now owns 106 shares of the company’s stock valued at $36,000 after acquiring an additional 60 shares during the period. Huntington National Bank increased its stake in Corpay by 43.0% during the third quarter. Huntington National Bank now owns 133 shares of the company’s stock worth $42,000 after purchasing an additional 40 shares during the period. Finally, Quarry LP purchased a new position in shares of Corpay in the third quarter valued at approximately $42,000. 98.84% of the stock is 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.