Corpay (NYSE:CPAY) Reaches New 12-Month High – Still a Buy?

Corpay, Inc. (NYSE:CPAY)’s share price hit a new 52-week high during mid-day trading on Thursday . The company 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

CPAY has been the topic of a number of recent analyst reports. Barclays raised their target price on shares of Corpay from $385.00 to $415.00 and gave the company an “overweight” rating in a research note on Monday, October 28th. Bank of America raised their target price on shares of Corpay from $344.00 to $375.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. Wells Fargo & Company raised their target price on shares of Corpay from $340.00 to $375.00 and gave the company an “equal weight” rating in a research note on Thursday, January 16th. Morgan Stanley raised their target price on shares of Corpay from $325.00 to $350.00 and gave the company an “equal weight” rating in a research note on Monday, November 11th. Finally, Jefferies Financial Group lifted their price target on shares of Corpay from $375.00 to $425.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Three 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 stock. Based on data from MarketBeat, Corpay has an average rating of “Moderate Buy” and an average target price of $381.43.

Corpay Price Performance

The stock has a market cap of $26.99 billion, a P/E ratio of 27.62, a PEG ratio of 1.26 and a beta of 1.26. The firm’s fifty day moving average price is $361.21 and its 200-day moving average price is $332.07. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 1.69.

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

Insider Buying and Selling at Corpay

In other Corpay news, CAO Alissa B. Vickery sold 8,000 shares of the business’s 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 completion of the sale, 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 position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Joseph W. Farrelly sold 2,975 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $375.18, for a total value of $1,116,160.50. Following the transaction, the director now owns 10,530 shares of the company’s stock, valued at approximately $3,950,645.40. This trade represents a 22.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 6.10% of the company’s stock.

Institutional Trading of Corpay

Several hedge funds and other institutional investors have recently bought and sold shares of CPAY. Albion Financial Group UT purchased a new stake in Corpay during the 3rd quarter valued at $27,000. Avion Wealth grew its position in Corpay by 1,011.1% in the 4th quarter. Avion Wealth now owns 100 shares of the company’s stock valued at $33,000 after acquiring an additional 91 shares during the last quarter. Versant Capital Management Inc grew its position in Corpay by 130.4% in the 4th quarter. Versant Capital Management Inc now owns 106 shares of the company’s stock valued at $36,000 after acquiring an additional 60 shares during the last quarter. Huntington National Bank grew its position in Corpay by 43.0% in the 3rd quarter. Huntington National Bank now owns 133 shares of the company’s stock valued at $42,000 after acquiring an additional 40 shares during the last quarter. Finally, Quarry LP bought a new position in Corpay in the 3rd quarter valued at $42,000. Hedge funds and other institutional investors own 98.84% of the company’s stock.

Corpay Company Profile

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.