Corpay (NYSE:CPAY) Given Buy (B-) Rating at Weiss Ratings

Key Points

• Corpay (NYSE:CPAY) received a reaffirmed "buy (B-)" rating from Weiss Ratings, reflecting strong analyst confidence in the company's performance.
• As of the last trading session, CPAY's shares declined slightly to $284.36, with an average price target of $395.58 based on analyst consensus.
• The company reported revenue of $1.10 billion in its latest quarterly earnings, surpassing expectations and reflecting a 12.9% increase year-over-year.

Corpay (NYSE:CPAY - Get Free Report)'s stock had its "buy (b-)" rating reaffirmed by research analysts at Weiss Ratings in a research note issued to investors on Friday,Weiss Ratings reports.

CPAY has been the subject of several other reports. Raymond James Financial set a $392.00 price target on Corpay and gave the company an "outperform" rating in a research report on Thursday, August 7th. Deutsche Bank Aktiengesellschaft began coverage on Corpay in a report on Thursday, July 17th. They set a "buy" rating and a $390.00 target price for the company. Keefe, Bruyette & Woods lowered their price target on shares of Corpay from $445.00 to $400.00 and set an "outperform" rating on the stock in a report on Wednesday, October 1st. UBS Group reduced their price objective on shares of Corpay from $365.00 to $340.00 and set a "neutral" rating for the company in a research note on Thursday, August 7th. Finally, Morgan Stanley decreased their target price on shares of Corpay from $360.00 to $356.00 and set an "equal weight" rating on the stock in a report on Monday, August 11th. Eight analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, Corpay has a consensus rating of "Moderate Buy" and an average price target of $395.58.

Corpay Stock Performance

Shares of CPAY stock traded down $0.09 during trading on Friday, reaching $284.36. 227,630 shares of the company's stock traded hands, compared to its average volume of 396,181. The company has a market capitalization of $20.08 billion, a P/E ratio of 19.32, a PEG ratio of 1.08 and a beta of 0.97. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 1.48. The firm's 50-day moving average is $302.43 and its 200 day moving average is $318.00. Corpay has a 1 year low of $269.02 and a 1 year high of $400.81.

Corpay (NYSE:CPAY - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported $5.13 earnings per share for the quarter, beating analysts' consensus estimates of $5.11 by $0.02. Corpay had a net margin of 25.17% and a return on equity of 39.13%. The business had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.09 billion. During the same period in the previous year, the business earned $4.55 EPS. Corpay's revenue was up 12.9% compared to the same quarter last year. Equities research analysts expect that Corpay will post 19.76 EPS for the current year.

Institutional Investors Weigh In On Corpay

A number of large investors have recently added to or reduced their stakes in CPAY. Vanguard Group Inc. lifted its stake in Corpay by 3.2% during the second quarter. Vanguard Group Inc. now owns 8,124,437 shares of the company's stock worth $2,695,851,000 after purchasing an additional 251,651 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Corpay by 11.1% in the 1st quarter. JPMorgan Chase & Co. now owns 4,728,635 shares of the company's stock valued at $1,648,970,000 after purchasing an additional 472,147 shares in the last quarter. Orbis Allan Gray Ltd boosted its stake in shares of Corpay by 3.3% in the 2nd quarter. Orbis Allan Gray Ltd now owns 3,855,589 shares of the company's stock valued at $1,279,362,000 after purchasing an additional 124,368 shares in the last quarter. Boston Partners grew its holdings in shares of Corpay by 5.8% during the 2nd quarter. Boston Partners now owns 2,289,271 shares of the company's stock valued at $758,536,000 after purchasing an additional 125,331 shares during the last quarter. Finally, Invesco Ltd. raised its position in Corpay by 4.4% in the 2nd quarter. Invesco Ltd. now owns 1,978,930 shares of the company's stock worth $656,649,000 after purchasing an additional 84,198 shares during the period. Hedge funds and other institutional investors 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.

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