Corpay (NYSE:CPAY) Given New $400.00 Price Target at Royal Bank of Canada

Corpay (NYSE:CPAY) had its price objective hoisted by investment analysts at Royal Bank of Canada from $354.00 to $400.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has a “sector perform” rating on the stock. Royal Bank of Canada’s price objective points to a potential upside of 1.74% from the company’s previous close.

A number of other equities analysts have also issued reports on the stock. Citigroup initiated coverage on shares of Corpay in a research report on Tuesday, January 14th. They set a “buy” rating and a $430.00 target price on the stock. Wolfe Research upgraded shares of Corpay from a “peer perform” rating to an “outperform” rating and set a $420.00 price objective on the stock in a research report on Wednesday, January 8th. BMO Capital Markets lifted their price objective on shares of Corpay from $400.00 to $440.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Barclays lifted their price objective on shares of Corpay from $385.00 to $415.00 and gave the company an “overweight” rating in a research report on Monday, October 28th. Finally, Jefferies Financial Group lifted their price objective on shares of Corpay from $375.00 to $425.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Three equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Corpay presently has a consensus rating of “Moderate Buy” and an average price target of $392.14.

Corpay Stock Up 1.2 %

CPAY stock traded up $4.48 during midday trading on Thursday, reaching $393.15. 559,549 shares of the company were exchanged, compared to its average volume of 433,598. The company has a debt-to-equity ratio of 1.69, a quick ratio of 1.05 and a current ratio of 1.05. Corpay has a 1-year low of $247.10 and a 1-year high of $400.81. The stock’s 50-day simple moving average is $361.54 and its 200 day simple moving average is $335.21. The company has a market cap of $27.41 billion, a price-to-earnings ratio of 28.04, a price-to-earnings-growth ratio of 1.30 and a beta of 1.28.

Corpay (NYSE:CPAY) last released its quarterly earnings data 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 return on equity of 39.44% and a net margin of 26.14%. On average, equities analysts forecast that Corpay will post 17.84 earnings per share for the current year.

Insider Activity at Corpay

In other news, Director Joseph W. Farrelly sold 2,975 shares of the business’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $375.18, for a total transaction of $1,116,160.50. Following the completion of the sale, the director now owns 10,530 shares in the company, valued at approximately $3,950,645.40. The trade was a 22.03 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 value of $2,960,320.00. Following the sale, the chief accounting officer now owns 1,797 shares of the company’s stock, valued at $664,961.88. The trade was a 81.66 % decrease in their position. The disclosure for this sale can be found here. 6.10% of the stock is currently owned by corporate insiders.

Institutional Trading of Corpay

Several large investors have recently bought and sold shares of CPAY. International Assets Investment Management LLC acquired a new stake in Corpay in the third quarter valued at approximately $40,497,000. JPMorgan Chase & Co. grew its position in Corpay by 2.3% in the third quarter. JPMorgan Chase & Co. now owns 5,287,311 shares of the company’s stock valued at $1,653,659,000 after acquiring an additional 120,578 shares in the last quarter. Prana Capital Management LP purchased a new position in shares of Corpay during the 3rd quarter valued at approximately $31,541,000. Proficio Capital Partners LLC purchased a new position in shares of Corpay during the 4th quarter valued at approximately $28,632,000. Finally, Swedbank AB boosted its stake in shares of Corpay by 44.9% during the 4th quarter. Swedbank AB now owns 269,717 shares of the company’s stock valued at $91,278,000 after buying an additional 83,600 shares during the last quarter. Institutional investors and hedge funds 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.