Corpay (NYSE:CPAY) Upgraded by Wall Street Zen to “Buy” Rating

Corpay (NYSE:CPAY) was upgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a note issued to investors on Saturday.

A number of other equities research analysts have also issued reports on the company. UBS Group cut their price target on Corpay from $400.00 to $365.00 and set a “neutral” rating for the company in a research note on Wednesday, May 7th. Barclays cut their price target on Corpay from $440.00 to $400.00 and set an “overweight” rating for the company in a research note on Monday, April 14th. Wells Fargo & Company cut their price target on Corpay from $375.00 to $339.00 and set an “equal weight” rating for the company in a research note on Thursday, April 24th. Robert W. Baird set a $440.00 price target on Corpay in a research note on Tuesday, June 10th. Finally, Raymond James reiterated an “outperform” rating and issued a $414.00 price target (down previously from $417.00) on shares of Corpay in a research note on Wednesday, May 7th. Five investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Corpay currently has a consensus rating of “Moderate Buy” and an average target price of $398.07.

Corpay Trading Down 7.7%

NYSE:CPAY opened at $322.98 on Friday. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.00 and a quick ratio of 1.05. The firm has a market capitalization of $22.77 billion, a price-to-earnings ratio of 23.10, a price-to-earnings-growth ratio of 1.32 and a beta of 0.96. Corpay has a one year low of $247.10 and a one year high of $400.81. The business has a fifty day moving average price of $326.42 and a 200-day moving average price of $346.20.

Corpay (NYSE:CPAY) last posted its quarterly earnings data on Tuesday, May 6th. The company reported $4.51 EPS for the quarter, topping the consensus estimate of $4.50 by $0.01. Corpay had a return on equity of 41.46% and a net margin of 25.25%. The firm had revenue of $1.01 billion during the quarter, compared to analyst estimates of $1.02 billion. During the same period in the prior year, the business posted $4.10 EPS. Corpay’s revenue was up 7.5% on a year-over-year basis. Sell-side analysts forecast that Corpay will post 19.76 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in CPAY. Empowered Funds LLC lifted its holdings in shares of Corpay by 453.9% in the 4th quarter. Empowered Funds LLC now owns 6,259 shares of the company’s stock valued at $2,118,000 after acquiring an additional 5,129 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Corpay by 17.3% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 23,732 shares of the company’s stock valued at $8,067,000 after acquiring an additional 3,504 shares during the last quarter. Principal Securities Inc. lifted its holdings in shares of Corpay by 10.1% in the 4th quarter. Principal Securities Inc. now owns 962 shares of the company’s stock valued at $326,000 after acquiring an additional 88 shares during the last quarter. Allworth Financial LP lifted its holdings in shares of Corpay by 9.9% in the 4th quarter. Allworth Financial LP now owns 487 shares of the company’s stock valued at $182,000 after acquiring an additional 44 shares during the last quarter. Finally, Mainsail Asset Management LLC bought a new position in shares of Corpay in the 4th quarter valued at about $203,000. 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.