Corpay (NYSE:CPAY – Get Free Report) had its price target cut by equities research analysts at Morgan Stanley from $360.00 to $356.00 in a report issued on Monday, MarketBeat.com reports. The firm presently has an “equal weight” rating on the stock. Morgan Stanley’s target price would suggest a potential upside of 16.99% from the company’s current price.
Several other brokerages have also issued reports on CPAY. UBS Group cut their target price on shares of Corpay from $365.00 to $340.00 and set a “neutral” rating on the stock in a research note on Thursday. Robert W. Baird set a $440.00 price objective on shares of Corpay in a research report on Tuesday, June 10th. Wall Street Zen raised shares of Corpay from a “hold” rating to a “buy” rating in a research note on Friday, July 18th. Raymond James Financial set a $392.00 price target on shares of Corpay and gave the stock an “outperform” rating in a research note on Thursday. Finally, Barclays reduced their price objective on shares of Corpay from $440.00 to $400.00 and set an “overweight” rating on the stock in a research report on Monday, April 14th. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Corpay presently has a consensus rating of “Moderate Buy” and a consensus target price of $396.33.
Read Our Latest Stock Report on Corpay
Corpay Stock Performance
Corpay (NYSE:CPAY – Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported $5.13 EPS for the quarter, topping analysts’ consensus estimates of $5.11 by $0.02. The firm had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.09 billion. Corpay had a return on equity of 39.13% and a net margin of 25.17%. The company’s revenue was up 12.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.55 earnings per share. As a group, sell-side analysts predict that Corpay will post 19.76 earnings per share for the current year.
Institutional Investors Weigh In On Corpay
Hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Corpay by 1.5% during the first quarter. Vanguard Group Inc. now owns 7,872,786 shares of the company’s stock valued at $2,745,398,000 after buying an additional 119,987 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of Corpay by 20.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,840,818 shares of the company’s stock valued at $1,976,651,000 after purchasing an additional 1,000,699 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Corpay by 11.1% during the 1st quarter. JPMorgan Chase & Co. now owns 4,728,635 shares of the company’s stock valued at $1,648,970,000 after acquiring an additional 472,147 shares in the last quarter. Boston Partners raised its stake in shares of Corpay by 5.5% during the 2nd quarter. Boston Partners now owns 2,283,730 shares of the company’s stock valued at $756,697,000 after buying an additional 119,790 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. lifted its holdings in Corpay by 1.1% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,949,913 shares of the company’s stock valued at $659,890,000 after acquiring an additional 20,937 shares during the last quarter. 98.84% of the stock is currently 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.
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