Corpay (NYSE:CPAY) Issues Q4 Earnings Guidance

Corpay (NYSE:CPAY) issued an update on its fourth quarter earnings guidance on Tuesday morning. The company provided EPS guidance of $5.25-5.45 for the period, compared to the consensus EPS estimate of $5.38.

Analysts Set New Price Targets

A number of research firms have issued reports on CPAY. Raymond James decreased their target price on Corpay from $330.00 to $311.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Royal Bank of Canada reissued a “sector perform” rating and issued a $310.00 target price on shares of Corpay in a research note on Thursday, August 8th. BMO Capital Markets boosted their target price on Corpay from $350.00 to $390.00 and gave the company an “outperform” rating in a research note on Thursday, October 3rd. JPMorgan Chase & Co. boosted their target price on Corpay from $327.00 to $353.00 and gave the company an “overweight” rating in a research note on Tuesday, August 20th. Finally, Barclays boosted their target price on Corpay from $385.00 to $415.00 and gave the company an “overweight” rating in a research note on Monday, October 28th. Four 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 MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $363.93.

Corpay Stock Performance

Corpay stock opened at $370.84 on Thursday. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 1.69. The company has a market capitalization of $25.85 billion, a P/E ratio of 26.45, a PEG ratio of 1.47 and a beta of 1.24. The stock’s 50 day moving average is $349.72 and its 200 day moving average is $306.48. Corpay has a twelve month low of $247.10 and a twelve month high of $385.30.

Insider Activity at Corpay

In related news, Director Joseph W. Farrelly sold 2,975 shares of the company’s stock in a transaction that occurred on 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 transaction, the director now directly owns 10,530 shares of the company’s stock, valued at approximately $3,950,645.40. This represents a 22.03 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Alissa B. Vickery sold 8,000 shares of the stock in a transaction on Wednesday, November 20th. The shares were 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 directly owns 1,797 shares in the company, valued at $664,961.88. The trade was a 81.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 6.10% of the stock is currently owned by insiders.

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.