Corpay (NYSE:CPAY) Price Target Raised to $320.00 at Wells Fargo & Company

Corpay (NYSE:CPAY) had its price target boosted by Wells Fargo & Company from $285.00 to $320.00 in a research report sent to investors on Monday morning, Benzinga reports. They currently have an equal weight rating on the stock.

A number of other equities analysts have also commented on CPAY. Jefferies Financial Group lifted their price target on shares of Corpay from $375.00 to $425.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. William Blair raised shares of Corpay to a “strong-buy” rating in a research report on Thursday, August 8th. Royal Bank of Canada restated a “sector perform” rating and set a $310.00 price target on shares of Corpay in a report on Thursday, August 8th. BMO Capital Markets lifted their price objective on Corpay from $350.00 to $390.00 and gave the stock an “outperform” rating in a research note on Thursday, October 3rd. Finally, Barclays increased their target price on Corpay from $330.00 to $385.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Three research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $353.33.

Corpay Stock Down 3.0 %

CPAY stock opened at $343.88 on Monday. The firm has a market cap of $24.16 billion, a PE ratio of 25.59, a PEG ratio of 1.33 and a beta of 1.22. Corpay has a 1 year low of $220.39 and a 1 year high of $355.47. The company has a fifty day simple moving average of $316.44 and a 200 day simple moving average of $293.22. 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 (NYSE:CPAY) last released its quarterly earnings results on Wednesday, August 7th. The company reported $4.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.51 by $0.04. Corpay had a return on equity of 38.93% and a net margin of 26.41%. The company had revenue of $975.70 million during the quarter, compared to the consensus estimate of $973.84 million. During the same quarter in the prior year, the company posted $3.85 EPS. The firm’s revenue was up 2.9% on a year-over-year basis. Sell-side analysts anticipate that Corpay will post 17.83 EPS for the current fiscal year.

Institutional Investors Weigh In On Corpay

Institutional investors have recently bought and sold shares of the business. Whittier Trust Co. of Nevada Inc. boosted its position in shares of Corpay by 22.7% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 184 shares of the company’s stock valued at $58,000 after acquiring an additional 34 shares in the last quarter. Mather Group LLC. boosted its holdings in Corpay by 21.2% during the third quarter. Mather Group LLC. now owns 200 shares of the company’s stock valued at $63,000 after purchasing an additional 35 shares in the last quarter. Epic Trust Investment Advisors LLC grew its stake in shares of Corpay by 4.1% in the 2nd quarter. Epic Trust Investment Advisors LLC now owns 998 shares of the company’s stock valued at $266,000 after purchasing an additional 39 shares during the period. Massmutual Trust Co. FSB ADV raised its holdings in shares of Corpay by 21.6% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 242 shares of the company’s stock worth $64,000 after buying an additional 43 shares in the last quarter. Finally, Signaturefd LLC raised its holdings in shares of Corpay by 22.3% in the 3rd quarter. Signaturefd LLC now owns 252 shares of the company’s stock worth $79,000 after buying an additional 46 shares in the last quarter. Institutional investors and hedge funds 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.