Corpay (NYSE:CPAY) Downgraded by Wall Street Zen to Hold

Corpay (NYSE:CPAY - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research report issued on Tuesday.

A number of other equities analysts have also issued reports on the stock. Barclays dropped their target price 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. Robert W. Baird set a $440.00 target price on shares of Corpay in a research report on Tuesday, June 10th. Oppenheimer assumed coverage on shares of Corpay in a research report on Monday, April 28th. They set a "market perform" rating on the stock. UBS Group lowered their price target on shares of Corpay from $400.00 to $365.00 and set a "neutral" rating on the stock in a report on Wednesday, May 7th. Finally, Raymond James Financial reissued an "outperform" rating and issued a $414.00 price target (down previously from $417.00) on shares of Corpay in a report on Wednesday, May 7th. Six analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $401.86.

Corpay Stock Performance

Shares of Corpay stock traded up $3.18 on Tuesday, reaching $334.37. The stock had a trading volume of 151,326 shares, compared to its average volume of 473,956. The business's 50-day moving average price is $332.64 and its two-hundred day moving average price is $342.42. The company has a debt-to-equity ratio of 1.69, a quick ratio of 1.10 and a current ratio of 1.10. Corpay has a fifty-two week low of $265.06 and a fifty-two week high of $400.81. The stock has a market cap of $23.57 billion, a P/E ratio of 23.45, a price-to-earnings-growth ratio of 1.40 and a beta of 0.95.

Corpay (NYSE:CPAY - Get Free Report) last announced its earnings results on Tuesday, May 6th. The company reported $4.51 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.50 by $0.01. Corpay had a net margin of 25.15% and a return on equity of 41.61%. The business had revenue of $1.01 billion for the quarter, compared to analyst estimates of $1.02 billion. During the same quarter in the previous year, the firm posted $4.10 earnings per share. Corpay's revenue was up 7.5% compared to the same quarter last year. On average, sell-side analysts forecast that Corpay will post 19.76 EPS for the current year.

Institutional Investors Weigh In On Corpay

Large investors have recently made changes to their positions in the company. Colonial Trust Co SC lifted its position in Corpay by 120.5% during the 4th quarter. Colonial Trust Co SC now owns 97 shares of the company's stock worth $33,000 after buying an additional 53 shares in the last quarter. Zions Bancorporation National Association UT bought a new position in shares of Corpay during the 1st quarter worth approximately $41,000. Assetmark Inc. grew its stake in shares of Corpay by 93.8% during the 4th quarter. Assetmark Inc. now owns 124 shares of the company's stock worth $42,000 after acquiring an additional 60 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of Corpay by 70.5% during the 4th quarter. EverSource Wealth Advisors LLC now owns 133 shares of the company's stock worth $45,000 after acquiring an additional 55 shares in the last quarter. Finally, Rakuten Securities Inc. acquired a new stake in shares of Corpay in the 1st quarter valued at approximately $45,000. 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.