Corpay (NYSE:CPAY) Now Covered by Analysts at Oppenheimer

Oppenheimer initiated coverage on shares of Corpay (NYSE:CPAY) in a report released on Monday morning, Marketbeat reports. The firm issued a market perform rating on the stock.

Other equities research analysts have also issued reports about the stock. Citigroup assumed coverage on shares of Corpay in a report on Tuesday, January 14th. They set a “buy” rating and a $430.00 price target for the company. Morgan Stanley upped their price objective on shares of Corpay from $350.00 to $380.00 and gave the company an “equal weight” rating in a research note on Thursday, February 6th. Wolfe Research upgraded Corpay from a “peer perform” rating to an “outperform” rating and set a $420.00 price target on the stock in a report on Wednesday, January 8th. Raymond James lowered their price target on Corpay from $434.00 to $417.00 and set an “outperform” rating for the company in a research report on Thursday, February 6th. Finally, Royal Bank of Canada lifted their price objective on Corpay from $354.00 to $400.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 6th. Four 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 stock. According to MarketBeat, Corpay has an average rating of “Moderate Buy” and a consensus price target of $397.62.

Corpay Price Performance

CPAY stock opened at $325.66 on Monday. The firm has a market cap of $22.88 billion, a P/E ratio of 23.29, a P/E/G ratio of 1.32 and a beta of 1.11. The firm’s fifty day moving average is $332.06 and its 200 day moving average is $350.90. Corpay has a 52 week low of $247.10 and a 52 week high of $400.81. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.05 and a current ratio of 1.00.

Corpay (NYSE:CPAY) last released its earnings results on Wednesday, February 5th. The company reported $4.96 earnings per share for the quarter, missing analysts’ consensus estimates of $5.37 by ($0.41). Corpay had a net margin of 25.25% and a return on equity of 41.46%. Research analysts predict that Corpay will post 19.76 earnings per share for the current year.

Insider Activity at Corpay

In related news, Director Richard Macchia sold 2,427 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $375.23, for a total transaction of $910,683.21. Following the completion of the transaction, the director now owns 12,215 shares of the company’s stock, valued at $4,583,434.45. This trade represents a 16.58 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 6.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Corpay

A number of institutional investors have recently modified their holdings of the stock. Avion Wealth raised its position in shares of Corpay by 1,011.1% in the 4th quarter. Avion Wealth now owns 100 shares of the company’s stock worth $33,000 after purchasing an additional 91 shares during the last quarter. Colonial Trust Co SC increased its stake in Corpay by 120.5% during the 4th quarter. Colonial Trust Co SC now owns 97 shares of the company’s stock valued at $33,000 after purchasing an additional 53 shares in the last quarter. Versant Capital Management Inc raised its holdings in Corpay by 130.4% in the fourth quarter. Versant Capital Management Inc now owns 106 shares of the company’s stock worth $36,000 after buying an additional 60 shares during the last quarter. Spire Wealth Management bought a new position in shares of Corpay in the fourth quarter worth approximately $42,000. Finally, Assetmark Inc. grew its holdings in shares of Corpay by 93.8% during the fourth quarter. Assetmark Inc. now owns 124 shares of the company’s stock valued at $42,000 after buying an additional 60 shares during the last quarter. 98.84% of the stock is owned by hedge funds and other 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.