Corpay (NYSE:CPAY) Lowered to “Hold” Rating by Wall Street Zen

Wall Street Zen downgraded shares of Corpay (NYSE:CPAY) from a buy rating to a hold rating in a report issued on Saturday.

A number of other analysts also recently issued reports on the company. Raymond James Financial set a $392.00 target price on Corpay and gave the stock an “outperform” rating in a research report on Thursday, August 7th. Morgan Stanley decreased their target price on Corpay from $360.00 to $356.00 and set an “equal weight” rating for the company in a research report on Monday, August 11th. UBS Group decreased their target price on Corpay from $365.00 to $340.00 and set a “neutral” rating for the company in a research report on Thursday, August 7th. Robert W. Baird set a $440.00 target price on Corpay in a research report on Tuesday, June 10th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Corpay in a report on Thursday, July 17th. They issued a “buy” rating and a $390.00 price target for the company. Nine equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $399.43.

Corpay Stock Performance

NYSE:CPAY opened at $300.01 on Friday. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.12 and a quick ratio of 1.12. The business has a fifty day simple moving average of $319.27 and a two-hundred day simple moving average of $325.88. Corpay has a 1 year low of $269.02 and a 1 year high of $400.81. The company has a market capitalization of $21.18 billion, a P/E ratio of 20.38, a P/E/G ratio of 1.14 and a beta of 1.00.

Corpay (NYSE:CPAY) last released its earnings results on Wednesday, August 6th. The company reported $5.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.11 by $0.02. Corpay had a return on equity of 39.13% and a net margin of 25.17%.The business had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.09 billion. During the same period last year, the business posted $4.55 earnings per share. The business’s revenue for the quarter was up 12.9% on a year-over-year basis. On average, analysts expect that Corpay will post 19.76 earnings per share for the current year.

Institutional Investors Weigh In On Corpay

Several hedge funds have recently added to or reduced their stakes in CPAY. State of Wyoming lifted its stake in Corpay by 17.6% during the fourth quarter. State of Wyoming now owns 743 shares of the company’s stock worth $251,000 after purchasing an additional 111 shares during the last quarter. Tidal Investments LLC lifted its stake in Corpay by 17.8% during the fourth quarter. Tidal Investments LLC now owns 5,466 shares of the company’s stock worth $1,850,000 after purchasing an additional 825 shares during the last quarter. Two Sigma Investments LP bought a new stake in Corpay during the fourth quarter worth about $426,000. Squarepoint Ops LLC increased its holdings in shares of Corpay by 417.1% in the fourth quarter. Squarepoint Ops LLC now owns 9,669 shares of the company’s stock worth $3,272,000 after buying an additional 7,799 shares during the period. Finally, Vident Advisory LLC increased its holdings in shares of Corpay by 4.6% in the fourth quarter. Vident Advisory LLC now owns 2,198 shares of the company’s stock worth $744,000 after buying an additional 97 shares during the period. 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.