Corpay (NYSE:CPAY) Sets New 52-Week High - Still a Buy?

Key Points

• Corpay shares hit a new 52-week high, trading as high as $367.61 before last changing hands near $368.98. The move came on relatively light volume of about 30,914 shares.
• Wall Street sentiment remains constructive, with 13 Buy ratings and 3 Hold ratings for a consensus “Moderate Buy.” Analysts’ average price target is $383.07, with some targets as high as $450.
• The company’s recent insider activity was negative, as directors and insiders sold shares totaling $31.3 million over the last 90 days. Despite that, institutional ownership remains very high at 98.84%.

Corpay, Inc (NYSE:CPAY - Get Free Report) shares reached a new 52-week high on Wednesday . The company traded as high as $367.61 and last traded at $368.9760, with a volume of 30914 shares. The stock had previously closed at $356.16.

Wall Street Analyst Weigh In

CPAY has been the subject of a number of analyst reports. Wall Street Zen upgraded Corpay from a "hold" rating to a "buy" rating in a research report on Monday, March 23rd. Oppenheimer restated an "outperform" rating and issued a $388.00 target price on shares of Corpay in a report on Friday, May 8th. Robert W. Baird cut their target price on Corpay from $440.00 to $380.00 and set an "outperform" rating for the company in a research note on Tuesday, March 31st. Wolfe Research reiterated an "outperform" rating and set a $450.00 price target on shares of Corpay in a report on Wednesday, June 3rd. Finally, Weiss Ratings raised shares of Corpay from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Monday, April 27th. Thirteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $383.07.

Corpay Price Performance

The stock has a 50-day simple moving average of $348.91 and a 200 day simple moving average of $331.20. The company has a market cap of $23.78 billion, a PE ratio of 21.78, a P/E/G ratio of 0.99 and a beta of 0.88. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 1.86.

Corpay (NYSE:CPAY - Get Free Report) last released its quarterly earnings results on Thursday, May 14th. The corporate payments company reported ($0.01) earnings per share for the quarter. The business had revenue of $5.63 million for the quarter. Corpay had a return on equity of 38.68% and a net margin of 24.60%. Equities analysts expect that Corpay, Inc will post 25.49 EPS for the current year.

Insider Activity

In other Corpay news, Director Steven T. Stull sold 1,000 shares of the stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $360.78, for a total transaction of $360,780.00. Following the completion of the transaction, the director owned 28,241 shares of the company's stock, valued at $10,188,787.98. This trade represents a 3.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Armando Lins Netto sold 70,476 shares of Corpay stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $352.13, for a total transaction of $24,816,713.88. Following the sale, the insider owned 11,274 shares of the company's stock, valued at approximately $3,969,913.62. This represents a 86.21% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 88,677 shares of company stock valued at $31,304,091. 5.19% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Corpay

A number of hedge funds have recently made changes to their positions in the stock. HB Wealth Management LLC raised its position in Corpay by 1.9% in the 4th quarter. HB Wealth Management LLC now owns 1,741 shares of the corporate payments company's stock valued at $524,000 after purchasing an additional 33 shares in the last quarter. KBC Group NV increased its stake in shares of Corpay by 0.4% during the fourth quarter. KBC Group NV now owns 9,318 shares of the corporate payments company's stock worth $2,804,000 after buying an additional 36 shares during the period. Northwestern Mutual Wealth Management Co. increased its stake in shares of Corpay by 4.4% during the third quarter. Northwestern Mutual Wealth Management Co. now owns 883 shares of the corporate payments company's stock worth $254,000 after buying an additional 37 shares during the period. Thrivent Financial for Lutherans raised its holdings in Corpay by 1.4% in the second quarter. Thrivent Financial for Lutherans now owns 2,771 shares of the corporate payments company's stock valued at $919,000 after acquiring an additional 39 shares in the last quarter. Finally, Harbour Investments Inc. lifted its stake in Corpay by 35.5% in the fourth quarter. Harbour Investments Inc. now owns 149 shares of the corporate payments company's stock worth $45,000 after acquiring an additional 39 shares during the last quarter. Hedge funds and other institutional investors own 98.84% of the company's stock.

Corpay Company Profile

Corpay is a global corporate payments company that provides businesses with a range of payment and expense management solutions. Its services are designed to help organizations manage payables, card programs, travel and fleet-related expenses, and cross-border transactions more efficiently.

The company serves customers across a variety of industries and geographies, offering software and payment tools that streamline accounts payable, vendor payments, and workforce payments. Corpay also provides specialized solutions for fleet management and international payments, helping businesses control costs and simplify financial operations.

Corpay operates as part of the broader financial technology and payment processing sector.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.