Oppenheimer Initiates Coverage on Corpay (NYSE:CPAY)

Equities researchers at Oppenheimer started coverage on shares of Corpay (NYSE:CPAY - Get Free Report) in a research note issued to investors on Monday, Marketbeat reports. The firm set a "market perform" rating on the stock.

Several other brokerages have also issued reports on CPAY. Royal Bank of Canada increased their target price on Corpay from $354.00 to $400.00 and gave the stock a "sector perform" rating in a research report on Thursday, February 6th. Barclays decreased their price objective on Corpay from $440.00 to $400.00 and set an "overweight" rating for the company in a report on Monday, April 14th. Morgan Stanley boosted their target price on shares of Corpay from $350.00 to $380.00 and gave the company an "equal weight" rating in a report on Thursday, February 6th. Keefe, Bruyette & Woods increased their price target on shares of Corpay from $415.00 to $445.00 and gave the stock an "outperform" rating in a research note on Thursday, February 6th. Finally, Wolfe Research raised shares of Corpay from a "peer perform" rating to an "outperform" rating and set a $420.00 price objective on the stock in a research note on Wednesday, January 8th. Four equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $397.62.

Corpay Trading Up 2.4 %

Shares of Corpay stock traded up $7.77 during midday trading on Monday, reaching $330.42. 776,683 shares of the company's stock traded hands, compared to its average volume of 487,046. The company has a market cap of $23.21 billion, a PE ratio of 23.64, a price-to-earnings-growth ratio of 1.32 and a beta of 1.11. The stock has a 50 day moving average of $331.29 and a 200-day moving average of $350.79. Corpay has a 12 month low of $247.10 and a 12 month high of $400.81. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.05 and a current ratio of 1.00.

Corpay (NYSE:CPAY - Get Free Report) last issued its quarterly earnings data on Wednesday, February 5th. The company reported $4.96 EPS for the quarter, missing the consensus estimate of $5.37 by ($0.41). Corpay had a return on equity of 41.46% and a net margin of 25.25%. As a group, equities analysts expect that Corpay will post 19.76 EPS for the current fiscal year.

Insider Activity

In related news, Director Richard Macchia sold 2,427 shares of the firm's stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $375.23, for a total value of $910,683.21. Following the sale, the director now owns 12,215 shares in the company, valued at approximately $4,583,434.45. This trade represents a 16.58 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 6.10% of the company's stock.

Hedge Funds Weigh In On Corpay

Several hedge funds and other institutional investors have recently modified their holdings of CPAY. Dynasty Wealth Management LLC increased its position in Corpay by 3.6% during the first quarter. Dynasty Wealth Management LLC now owns 6,060 shares of the company's stock valued at $2,113,000 after acquiring an additional 212 shares during the last quarter. Victory Capital Management Inc. grew its stake in shares of Corpay by 5.5% during the 1st quarter. Victory Capital Management Inc. now owns 206,313 shares of the company's stock valued at $71,945,000 after purchasing an additional 10,817 shares during the period. Larson Financial Group LLC increased its position in shares of Corpay by 309.5% during the 1st quarter. Larson Financial Group LLC now owns 172 shares of the company's stock valued at $60,000 after purchasing an additional 130 shares during the last quarter. Wealthfront Advisers LLC lifted its stake in shares of Corpay by 22.7% in the 1st quarter. Wealthfront Advisers LLC now owns 2,008 shares of the company's stock worth $700,000 after purchasing an additional 371 shares during the period. Finally, Apollon Wealth Management LLC boosted its holdings in shares of Corpay by 12.3% in the first quarter. Apollon Wealth Management LLC now owns 1,378 shares of the company's stock worth $481,000 after buying an additional 151 shares during the last quarter. 98.84% of the stock is owned by institutional investors.

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.