Corpay (NYSE:CPAY) Stock Rating Upgraded by Wall Street Zen

Wall Street Zen upgraded shares of Corpay (NYSE:CPAY) from a hold rating to a buy rating in a research report sent to investors on Monday morning.

A number of other research firms also recently weighed in on CPAY. Wells Fargo & Company decreased their price target on shares of Corpay from $375.00 to $339.00 and set an “equal weight” rating for the company in a research report on Thursday, April 24th. Raymond James Financial reiterated an “outperform” rating and set a $414.00 price objective (down from $417.00) on shares of Corpay in a research note on Wednesday, May 7th. Oppenheimer initiated coverage on shares of Corpay in a research report on Monday, April 28th. They issued a “market perform” rating for the company. UBS Group reduced their price target on shares of Corpay from $400.00 to $365.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 7th. Finally, Barclays lowered their price objective on Corpay from $440.00 to $400.00 and set an “overweight” rating for the company in a report on Monday, April 14th. Five equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $401.86.

Corpay Stock Up 1.5%

Shares of NYSE CPAY opened at $332.07 on Monday. The stock has a fifty day moving average price of $330.31 and a 200 day moving average price of $342.88. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 1.69. Corpay has a 12-month low of $264.08 and a 12-month high of $400.81. The company has a market cap of $23.41 billion, a P/E ratio of 23.29, a P/E/G ratio of 1.37 and a beta of 0.96.

Corpay (NYSE:CPAY) last posted its earnings results on Tuesday, May 6th. The company reported $4.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.50 by $0.01. The business had revenue of $1.01 billion during the quarter, compared to analyst estimates of $1.02 billion. Corpay had a return on equity of 41.61% and a net margin of 25.15%. The company’s revenue for the quarter was up 7.5% compared to the same quarter last year. During the same quarter last year, the firm earned $4.10 earnings per share. Research analysts anticipate that Corpay will post 19.76 EPS for the current fiscal year.

Institutional Trading of Corpay

Several hedge funds have recently bought and sold shares of the company. Colonial Trust Co SC grew its position in Corpay by 120.5% in the 4th quarter. Colonial Trust Co SC now owns 97 shares of the company’s stock valued at $33,000 after buying an additional 53 shares in the last quarter. Zions Bancorporation National Association UT bought a new stake in Corpay during the first quarter worth approximately $41,000. Assetmark Inc. lifted its position in 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 during the period. EverSource Wealth Advisors LLC lifted its position in Corpay by 70.5% in the fourth quarter. EverSource Wealth Advisors LLC now owns 133 shares of the company’s stock worth $45,000 after purchasing an additional 55 shares during the period. Finally, Rakuten Securities Inc. bought a new position in Corpay during the 1st quarter valued at $45,000. 98.84% of the stock is currently owned by 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.