Corpay (NYSE:CPAY) Price Target Raised to $400.00 at Keefe, Bruyette & Woods

Corpay (NYSE:CPAY) had its price objective boosted by Keefe, Bruyette & Woods from $380.00 to $400.00 in a research note issued to investors on Friday,Benzinga reports. Keefe, Bruyette & Woods currently has an outperform rating on the stock.

Several other brokerages have also weighed in on CPAY. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $310.00 target price on shares of Corpay in a research report on Thursday, August 8th. Raymond James cut their price objective on shares of Corpay from $330.00 to $311.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. JPMorgan Chase & Co. boosted their target price on shares of Corpay from $327.00 to $353.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 20th. Jefferies Financial Group raised their price target on shares of Corpay from $375.00 to $425.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Finally, BMO Capital Markets upped their price objective on shares of Corpay from $350.00 to $390.00 and gave the stock an “outperform” rating in a report on Thursday, October 3rd. Four investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $356.79.

Corpay Stock Up 5.6 %

NYSE:CPAY traded up $19.51 during trading hours on Friday, hitting $366.01. 1,210,700 shares of the stock traded hands, compared to its average volume of 486,981. The firm has a 50 day moving average price of $325.93 and a 200 day moving average price of $296.50. The firm has a market cap of $25.41 billion, a price-to-earnings ratio of 26.60, a PEG ratio of 1.38 and a beta of 1.21. Corpay has a fifty-two week low of $221.37 and a fifty-two week high of $375.35. 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 announced its quarterly earnings data 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 firm had revenue of $975.70 million during the quarter, compared to the consensus estimate of $973.84 million. During the same period in the prior year, the business earned $3.85 EPS. The business’s revenue for the quarter was up 2.9% on a year-over-year basis. Equities research analysts anticipate that Corpay will post 17.96 earnings per share for the current year.

Institutional Investors Weigh In On Corpay

Several hedge funds have recently modified their holdings of CPAY. Vanguard Group Inc. bought a new position in Corpay during the first quarter worth $2,431,089,000. JPMorgan Chase & Co. bought a new stake in shares of Corpay in the first quarter valued at about $1,429,445,000. Price T Rowe Associates Inc. MD acquired a new stake in Corpay during the first quarter worth about $1,355,377,000. Boston Partners bought a new position in Corpay during the first quarter valued at about $553,667,000. Finally, Sustainable Growth Advisers LP acquired a new position in Corpay in the 1st quarter valued at approximately $553,279,000. 98.84% of the stock is 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.