Corpay (NYSE:CPAY) Price Target Increased to $353.00 by Analysts at JPMorgan Chase & Co.

Corpay (NYSE:CPAY) had its target price increased by JPMorgan Chase & Co. from $327.00 to $353.00 in a research report report published on Tuesday, Benzinga reports. The firm currently has an overweight rating on the stock.

CPAY has been the topic of several other research reports. BMO Capital Markets lowered their price target on shares of Corpay from $360.00 to $350.00 and set an outperform rating on the stock in a report on Thursday, May 9th. Barclays decreased their price objective on Corpay from $355.00 to $350.00 and set an overweight rating on the stock in a report on Monday, May 13th. Evercore ISI dropped their target price on Corpay from $350.00 to $345.00 and set an outperform rating for the company in a report on Tuesday, June 25th. Jefferies Financial Group boosted their price target on Corpay from $295.00 to $350.00 and gave the company a buy rating in a research note on Thursday, July 18th. Finally, William Blair upgraded Corpay to a strong-buy rating in a research note on Thursday, August 8th. One analyst has rated the stock with a sell rating, two have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average target price of $332.50.

Corpay Trading Up 0.2 %

Shares of CPAY stock opened at $297.92 on Tuesday. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.07 and a quick ratio of 1.07. Corpay has a 1 year low of $220.39 and a 1 year high of $319.94. The business’s fifty day moving average is $279.88. The company has a market capitalization of $20.93 billion, a price-to-earnings ratio of 22.17, a P/E/G ratio of 1.09 and a beta of 1.20.

Corpay (NYSE:CPAY) last released its earnings results on Wednesday, August 7th. The company reported $4.55 earnings per share for the quarter, beating the consensus estimate of $4.51 by $0.04. The business had revenue of $975.70 million during the quarter, compared to analysts’ expectations of $973.84 million. Corpay had a net margin of 26.29% and a return on equity of 36.97%. The firm’s revenue was up 2.9% on a year-over-year basis. During the same quarter last year, the company earned $3.85 earnings per share. Equities research analysts anticipate that Corpay will post 17.82 EPS for the current fiscal year.

Institutional Investors Weigh In On Corpay

A number of hedge funds have recently added to or reduced their stakes in CPAY. Epic Trust Investment Advisors LLC boosted its position in Corpay by 4.1% in the 2nd quarter. Epic Trust Investment Advisors LLC now owns 998 shares of the company’s stock valued at $266,000 after buying an additional 39 shares during the last quarter. Massmutual Trust Co. FSB ADV lifted its stake in shares of Corpay by 21.6% during the second quarter. Massmutual Trust Co. FSB ADV now owns 242 shares of the company’s stock valued at $64,000 after acquiring an additional 43 shares during the period. Sequoia Financial Advisors LLC boosted its holdings in Corpay by 4.3% in the second quarter. Sequoia Financial Advisors LLC now owns 1,320 shares of the company’s stock valued at $352,000 after acquiring an additional 54 shares during the last quarter. Capital Insight Partners LLC increased its position in Corpay by 2.5% in the second quarter. Capital Insight Partners LLC now owns 2,255 shares of the company’s stock worth $601,000 after purchasing an additional 55 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in Corpay by 0.9% during the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 7,754 shares of the company’s stock worth $2,066,000 after purchasing an additional 71 shares during the last quarter. Institutional investors own 98.84% of the company’s stock.

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.