Corpay (NYSE:CPAY) Sets New 12-Month High – What’s Next?

Corpay, Inc (NYSE:CPAY)’s stock price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $377.43 and last traded at $377.08, with a volume of 10524 shares changing hands. The stock had previously closed at $370.58.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Weiss Ratings restated a “buy (b-)” rating on shares of Corpay in a report on Friday. Oppenheimer restated an “outperform” rating and set a $388.00 price objective on shares of Corpay in a research report on Friday, May 8th. Morgan Stanley reaffirmed an “overweight” rating and set a $400.00 target price on shares of Corpay in a research note on Sunday, May 10th. Robert W. Baird dropped their target price on Corpay from $440.00 to $380.00 and set an “outperform” rating on the stock in a report on Tuesday, March 31st. Finally, Wolfe Research reissued an “outperform” rating and issued a $450.00 price target on shares of Corpay in a research report on Wednesday, June 3rd. Twelve equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $382.54.

Corpay Trading Up 2.0%

The business has a 50-day moving average of $350.52 and a 200-day moving average of $333.88. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 1.86. The stock has a market cap of $24.71 billion, a price-to-earnings ratio of 22.62, a PEG ratio of 1.01 and a beta of 0.88.

Corpay (NYSE:CPAY) last issued its earnings results on Thursday, May 14th. The corporate payments company reported ($0.01) earnings per share for the quarter. Corpay had a return on equity of 38.68% and a net margin of 24.60%.The firm had revenue of $5.63 million during the quarter. As a group, research analysts forecast that Corpay, Inc will post 25.49 earnings per share for the current year.

Insider Activity at Corpay

In other Corpay news, Director Steven T. Stull sold 1,000 shares of Corpay stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $360.78, for a total value of $360,780.00. Following the completion of the sale, the director directly owned 28,241 shares in the company, valued at $10,188,787.98. The trade was a 3.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Armando Lins Netto sold 70,476 shares of Corpay stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $352.13, for a total transaction of $24,816,713.88. Following the completion of the sale, the insider owned 11,274 shares of the company’s stock, valued at $3,969,913.62. This trade represents a 86.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 88,677 shares of company stock valued at $31,304,091. 5.19% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Wedge Capital Management L L P NC lifted its stake in shares of Corpay by 22.1% in the 2nd quarter. Wedge Capital Management L L P NC now owns 222,662 shares of the corporate payments company’s stock valued at $74,207,000 after purchasing an additional 40,321 shares during the last quarter. Fulton Bank N.A. increased its position in Corpay by 10.4% during the second quarter. Fulton Bank N.A. now owns 1,772 shares of the corporate payments company’s stock worth $591,000 after buying an additional 167 shares during the last quarter. Vista Investment Partners LLC bought a new position in Corpay during the second quarter valued at about $4,391,000. Hennion & Walsh Asset Management Inc. raised its holdings in Corpay by 4.7% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 2,472 shares of the corporate payments company’s stock valued at $824,000 after buying an additional 112 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its position in shares of Corpay by 303.5% in the second quarter. Assenagon Asset Management S.A. now owns 36,497 shares of the corporate payments company’s stock worth $12,163,000 after buying an additional 27,451 shares during the last quarter. Institutional investors own 98.84% of the company’s stock.

Corpay Company Profile

Corpay is a global corporate payments company that provides businesses with a range of payment and expense management solutions. Its services are designed to help organizations manage payables, card programs, travel and fleet-related expenses, and cross-border transactions more efficiently.

The company serves customers across a variety of industries and geographies, offering software and payment tools that streamline accounts payable, vendor payments, and workforce payments. Corpay also provides specialized solutions for fleet management and international payments, helping businesses control costs and simplify financial operations.

Corpay operates as part of the broader financial technology and payment processing sector.