Corpay (NYSE:CPAY) Posts Earnings Results, Misses Estimates By $0.41 EPS

Corpay (NYSE:CPAY) announced its quarterly earnings data on Wednesday. The company reported $4.96 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.37 by ($0.41), Zacks reports. Corpay had a net margin of 26.14% and a return on equity of 39.44%.

Corpay Price Performance

Shares of CPAY stock traded up $9.10 on Wednesday, reaching $388.76. The company’s stock had a trading volume of 666,393 shares, compared to its average volume of 417,733. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 1.69. Corpay has a 12-month low of $247.10 and a 12-month high of $391.10. The company has a market capitalization of $27.10 billion, a P/E ratio of 27.73, a PEG ratio of 1.30 and a beta of 1.28. The stock’s 50 day simple moving average is $361.38 and its 200-day simple moving average is $334.84.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Citigroup assumed coverage on Corpay in a report on Tuesday, January 14th. They set a “buy” rating and a $430.00 price objective for the company. Bank of America boosted their price objective on Corpay from $344.00 to $375.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. Keefe, Bruyette & Woods decreased their price objective on Corpay from $425.00 to $415.00 and set an “outperform” rating for the company in a report on Monday, January 6th. Wolfe Research raised Corpay from a “peer perform” rating to an “outperform” rating and set a $420.00 target price for the company in a report on Wednesday, January 8th. Finally, Morgan Stanley upped their target price on Corpay from $325.00 to $350.00 and gave the company an “equal weight” rating in a report on Monday, November 11th. Three analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $381.43.

Insider Buying and Selling

In related 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 value of $2,960,320.00. Following the transaction, the chief accounting officer now owns 1,797 shares of the company’s stock, valued at $664,961.88. This represents a 81.66 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Joseph W. Farrelly sold 2,975 shares of the stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $375.18, for a total value of $1,116,160.50. Following the completion of the transaction, the director now directly owns 10,530 shares in the company, valued at approximately $3,950,645.40. This represents a 22.03 % decrease in their position. The disclosure for this sale can be found here. 6.10% of the stock is currently owned by company insiders.

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.