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

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

CPAY has been the topic of several other research reports. UBS Group dropped their price target on shares of Corpay from $400.00 to $365.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 7th. Barclays dropped their price target 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. Raymond James Financial reiterated an "outperform" rating and issued a $414.00 target price (down previously from $417.00) on shares of Corpay in a research report on Wednesday, May 7th. Robert W. Baird set a $440.00 target price on shares of Corpay in a research report on Tuesday, June 10th. Finally, Wells Fargo & Company dropped their target price on shares of Corpay from $375.00 to $339.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 24th. Six investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $398.07.

Corpay Trading Up 0.6%

NYSE CPAY opened at $316.30 on Friday. The company has a fifty day simple moving average of $327.89 and a two-hundred day simple moving average of $344.46. The stock has a market cap of $22.30 billion, a P/E ratio of 22.18, a P/E/G ratio of 1.33 and a beta of 0.96. Corpay has a 12-month low of $264.08 and a 12-month high of $400.81. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 1.69.

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

Hedge Funds Weigh In On Corpay

Several large investors have recently made changes to their positions in the stock. Oregon Public Employees Retirement Fund lifted its holdings in shares of Corpay by 0.5% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 5,963 shares of the company's stock worth $2,018,000 after acquiring an additional 30 shares during the last quarter. IFP Advisors Inc raised its holdings in shares of Corpay by 2.7% in the 4th quarter. IFP Advisors Inc now owns 1,151 shares of the company's stock valued at $390,000 after purchasing an additional 30 shares in the last quarter. Lake Street Advisors Group LLC raised its holdings in shares of Corpay by 3.5% in the 4th quarter. Lake Street Advisors Group LLC now owns 939 shares of the company's stock valued at $318,000 after purchasing an additional 32 shares in the last quarter. Meeder Advisory Services Inc. raised its holdings in shares of Corpay by 5.0% in the 1st quarter. Meeder Advisory Services Inc. now owns 678 shares of the company's stock valued at $236,000 after purchasing an additional 32 shares in the last quarter. Finally, Townsquare Capital LLC raised its holdings in shares of Corpay by 0.7% in the 1st quarter. Townsquare Capital LLC now owns 4,520 shares of the company's stock valued at $1,576,000 after purchasing an additional 32 shares in the last quarter. 98.84% of the stock is currently owned by institutional investors and hedge funds.

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.

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