Corpay (NYSE:CPAY) Shares Down 6.6% - Here's Why

Corpay, Inc. (NYSE:CPAY - Get Free Report)'s share price dropped 6.6% during mid-day trading on Friday . The company traded as low as $325.86 and last traded at $326.77. Approximately 412,630 shares were traded during trading, a decline of 16% from the average daily volume of 489,024 shares. The stock had previously closed at $350.05.

Wall Street Analyst Weigh In

Several equities analysts have commented on CPAY shares. UBS Group lowered their price objective on shares of Corpay from $400.00 to $365.00 and set a "neutral" rating for the company in a research report on Wednesday, May 7th. Oppenheimer began coverage on shares of Corpay in a report on Monday, April 28th. They issued a "market perform" rating for the company. Wells Fargo & Company reduced their price objective on Corpay from $375.00 to $339.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 24th. Raymond James restated an "outperform" rating and set a $414.00 price objective (down from $417.00) on shares of Corpay in a research report on Wednesday, May 7th. Finally, Barclays dropped their target price on Corpay from $440.00 to $400.00 and set an "overweight" rating for the company in a report on Monday, April 14th. Five research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $398.07.

Corpay Price Performance

The firm has a market cap of $23.02 billion, a PE ratio of 23.38, a price-to-earnings-growth ratio of 1.32 and a beta of 0.96. The company has a quick ratio of 1.05, a current ratio of 1.00 and a debt-to-equity ratio of 1.66. The stock has a 50 day moving average price of $325.57 and a two-hundred day moving average price of $347.08.

Corpay (NYSE:CPAY - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $4.51 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.50 by $0.01. The business had revenue of $1.01 billion during the quarter, compared to analysts' expectations of $1.02 billion. Corpay had a net margin of 25.25% and a return on equity of 41.46%. The business's quarterly revenue was up 7.5% on a year-over-year basis. During the same quarter last year, the company posted $4.10 earnings per share. As a group, equities analysts expect that Corpay, Inc. will post 19.76 earnings per share for the current year.

Institutional Trading of Corpay

Several large investors have recently added to or reduced their stakes in CPAY. Colonial Trust Co SC raised its holdings in shares of Corpay by 120.5% during the fourth quarter. Colonial Trust Co SC now owns 97 shares of the company's stock worth $33,000 after purchasing an additional 53 shares during the last quarter. Avion Wealth lifted its holdings in shares of Corpay by 1,011.1% in the 4th quarter. Avion Wealth now owns 100 shares of the company's stock valued at $33,000 after buying an additional 91 shares during the period. Zions Bancorporation National Association UT purchased a new stake in shares of Corpay in the first quarter worth about $41,000. Assetmark Inc. grew its holdings in Corpay by 93.8% during the fourth quarter. Assetmark Inc. now owns 124 shares of the company's stock worth $42,000 after acquiring an additional 60 shares during the period. Finally, Rakuten Securities Inc. acquired a new position in Corpay in the first quarter valued at approximately $45,000. Hedge funds and other institutional investors own 98.84% of the company's stock.

About Corpay

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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