Corpay (NYSE:CPAY) Reaches New 12-Month High – Still a Buy?

Corpay, Inc. (NYSE:CPAYGet Free Report) shares reached a new 52-week high on Thursday . The stock traded as high as $387.58 and last traded at $384.90, with a volume of 12525 shares. The stock had previously closed at $381.22.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Keefe, Bruyette & Woods lowered their price objective on Corpay from $425.00 to $415.00 and set an “outperform” rating for the company in a research note on Monday, January 6th. Bank of America upped their price objective on Corpay from $344.00 to $375.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. Barclays increased their price target on Corpay from $385.00 to $415.00 and gave the company an “overweight” rating in a research note on Monday, October 28th. Wells Fargo & Company raised their price objective on Corpay from $340.00 to $375.00 and gave the stock an “equal weight” rating in a report on Thursday, January 16th. Finally, Jefferies Financial Group boosted their target price on shares of Corpay from $375.00 to $425.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Three analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $381.43.

Get Our Latest Report on Corpay

Corpay Trading Up 1.6 %

The company has a debt-to-equity ratio of 1.69, a current ratio of 1.05 and a quick ratio of 1.05. The stock has a market capitalization of $26.99 billion, a price-to-earnings ratio of 27.62, a PEG ratio of 1.26 and a beta of 1.26. The business has a 50 day simple moving average of $361.21 and a 200-day simple moving average of $332.07.

Corpay (NYSE:CPAYGet Free Report) last released its quarterly earnings data on Thursday, November 7th. The company reported $4.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.67 by $0.05. The firm had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.03 billion. Corpay had a return on equity of 39.44% and a net margin of 26.14%. During the same quarter in the prior year, the company earned $4.20 earnings per share. As a group, equities analysts expect that Corpay, Inc. will post 17.84 earnings per share for the current year.

Insider Activity at Corpay

In other Corpay news, Director Joseph W. Farrelly sold 2,975 shares of the stock in a transaction on 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 sale, the director now owns 10,530 shares in the company, valued at $3,950,645.40. This represents a 22.03 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Alissa B. Vickery sold 8,000 shares of the stock in a transaction on 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 completion of the sale, the chief accounting officer now owns 1,797 shares in the company, valued at $664,961.88. This trade represents 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 company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Swedbank AB grew its stake in shares of Corpay by 46.3% in the third quarter. Swedbank AB now owns 186,117 shares of the company’s stock worth $58,210,000 after purchasing an additional 58,900 shares during the last quarter. Oppenheimer Asset Management Inc. lifted its holdings in Corpay by 66.7% in the third quarter. Oppenheimer Asset Management Inc. now owns 5,888 shares of the company’s stock worth $1,842,000 after buying an additional 2,355 shares during the period. Retireful LLC purchased a new stake in Corpay in the third quarter worth about $702,000. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in Corpay in the third quarter worth about $527,000. Finally, Banco Santander S.A. purchased a new stake in Corpay in the third quarter worth about $668,000. 98.84% of the stock is owned by institutional investors.

About Corpay

(Get Free Report)

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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