Corpay (NYSE:CPAY) Sets New 52-Week High – What’s Next?

Corpay, Inc. (NYSE:CPAY) shares hit a new 52-week high during trading on Thursday . The stock traded as high as $387.58 and last traded at $384.90, with a volume of 12525 shares traded. The stock had previously closed at $381.22.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on CPAY. Morgan Stanley raised their price target on Corpay from $325.00 to $350.00 and gave the company an “equal weight” rating in a report on Monday, November 11th. Bank of America lifted their price target on Corpay from $344.00 to $375.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. Citigroup assumed coverage on shares of Corpay in a report on Tuesday, January 14th. They set a “buy” rating and a $430.00 price objective on the stock. Keefe, Bruyette & Woods dropped their target price on shares of Corpay from $425.00 to $415.00 and set an “outperform” rating for the company in a research note on Monday, January 6th. Finally, Barclays upped their target price on shares of Corpay from $385.00 to $415.00 and gave the stock an “overweight” rating in a research report on Monday, October 28th. Three equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Corpay has a consensus rating of “Moderate Buy” and an average target price of $381.43.

Corpay Stock Down 1.8 %

The firm’s 50-day simple moving average is $361.47 and its 200 day simple moving average is $333.08. The company has a debt-to-equity ratio of 1.69, a quick ratio of 1.05 and a current ratio of 1.05. The company has a market cap of $26.53 billion, a P/E ratio of 27.14, a PEG ratio of 1.30 and a beta of 1.26.

Corpay (NYSE:CPAY) last released its quarterly earnings data on Thursday, November 7th. The company reported $4.72 EPS for the quarter, beating analysts’ consensus estimates of $4.67 by $0.05. Corpay had a return on equity of 39.44% and a net margin of 26.14%. The business had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter in the prior year, the company posted $4.20 earnings per share. On average, research analysts forecast that Corpay, Inc. will post 17.84 earnings per share for the current fiscal year.

Insider Activity at Corpay

In other Corpay news, CAO Alissa B. Vickery sold 8,000 shares of Corpay stock in a transaction dated 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 transaction, the chief accounting officer now directly owns 1,797 shares in the company, valued at approximately $664,961.88. The trade was a 81.66 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Joseph W. Farrelly sold 2,975 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $375.18, for a total value of $1,116,160.50. Following the sale, 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. Corporate insiders own 6.10% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of CPAY. International Assets Investment Management LLC acquired a new stake in shares of Corpay during the third quarter worth $40,497,000. JPMorgan Chase & Co. increased its holdings in Corpay by 2.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 5,287,311 shares of the company’s stock worth $1,653,659,000 after purchasing an additional 120,578 shares in the last quarter. Prana Capital Management LP bought a new stake in shares of Corpay in the third quarter valued at about $31,541,000. Swedbank AB raised its position in Corpay by 44.9% in the 4th quarter. Swedbank AB now owns 269,717 shares of the company’s stock valued at $91,278,000 after buying an additional 83,600 shares during the last quarter. Finally, FMR LLC lifted its position in shares of Corpay by 3.0% in the third quarter. FMR LLC now owns 2,692,847 shares of the company’s stock worth $842,215,000 after purchasing an additional 78,880 shares in the last quarter. 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.