Corpay (NYSE:CPAY) Upgraded to "Buy" at Wall Street Zen

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

Several other brokerages have also recently issued reports on CPAY. UBS Group dropped their price objective on shares of Corpay from $400.00 to $365.00 and set a "neutral" rating for the company in a research note on Wednesday, May 7th. Barclays lowered their target price on shares of Corpay from $440.00 to $400.00 and set an "overweight" rating for the company in a research note on Monday, April 14th. Wells Fargo & Company lowered their price target on Corpay from $375.00 to $339.00 and set an "equal weight" rating for the company in a research report on Thursday, April 24th. Oppenheimer assumed coverage on shares of Corpay in a research report on Monday, April 28th. They issued a "market perform" rating for the company. Finally, Robert W. Baird set a $440.00 price objective on Corpay in a research note on Tuesday, June 10th. Five research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Corpay has a consensus rating of "Moderate Buy" and a consensus target price of $398.07.

Corpay Price Performance

Shares of CPAY stock traded down $5.20 on Friday, reaching $327.19. 448,729 shares of the company were exchanged, compared to its average volume of 483,892. The company has a market cap of $23.06 billion, a price-to-earnings ratio of 22.94, a P/E/G ratio of 1.40 and a beta of 0.96. The business has a 50-day moving average price of $327.53 and a 200 day moving average price of $345.73. 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 1 year low of $251.04 and a 1 year high of $400.81.

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

Institutional Investors Weigh In On Corpay

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CPAY. Allspring Global Investments Holdings LLC raised its stake in Corpay by 17.3% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 23,732 shares of the company's stock valued at $8,067,000 after acquiring an additional 3,504 shares during the last quarter. Proficio Capital Partners LLC purchased a new stake in shares of Corpay during the fourth quarter worth approximately $28,632,000. Aviso Financial Inc. purchased a new stake in shares of Corpay during the fourth quarter worth approximately $151,000. Sanctuary Advisors LLC raised its stake in shares of Corpay by 20.5% during the fourth quarter. Sanctuary Advisors LLC now owns 1,796 shares of the company's stock worth $608,000 after purchasing an additional 305 shares during the last quarter. Finally, D.A. Davidson & CO. purchased a new position in Corpay during the 4th quarter worth $350,000. 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.