Corpay (NYSE:CPAY) Given New $340.00 Price Target at UBS Group

Key Points

• UBS Group has reduced its price target for Corpay (NYSE:CPAY) from $365.00 to $340.00, maintaining a "neutral" rating.
• Despite the downgrade, analysts project a potential upside of 11.46% from the stock's previous close, with a consensus price target of $397.93.
• Corpay's stock experienced a decline of $10.02 during trading, reaching $305.05, amid active trading volumes exceeding average levels.

Corpay (NYSE:CPAY - Get Free Report) had its target price reduced by stock analysts at UBS Group from $365.00 to $340.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has a "neutral" rating on the stock. UBS Group's price target would indicate a potential upside of 11.93% from the stock's current price.

Several other brokerages also recently issued reports on CPAY. Wall Street Zen upgraded shares of Corpay from a "hold" rating to a "buy" rating in a research note on Friday, July 18th. Oppenheimer started coverage on shares of Corpay in a report on Monday, April 28th. They set a "market perform" rating on the stock. Deutsche Bank Aktiengesellschaft began coverage on shares of Corpay in a report on Thursday, July 17th. They issued a "buy" rating and a $390.00 target price on the stock. Wells Fargo & Company decreased their target price on shares of Corpay from $375.00 to $339.00 and set an "equal weight" rating for the company in a research report on Thursday, April 24th. Finally, Robert W. Baird set a $440.00 target price on shares of Corpay in a research note on Tuesday, June 10th. Five equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $396.33.

Corpay Stock Performance

CPAY traded up $2.07 during trading hours on Thursday, hitting $303.77. The company's stock had a trading volume of 522,772 shares, compared to its average volume of 548,351. Corpay has a fifty-two week low of $269.02 and a fifty-two week high of $400.81. 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 has a market capitalization of $21.45 billion, a PE ratio of 20.64, a PEG ratio of 1.14 and a beta of 0.96. The company has a 50-day simple moving average of $328.85 and a 200 day simple moving average of $337.55.

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

Institutional Investors Weigh In On Corpay

Several large investors have recently added to or reduced their stakes in the stock. Atria Wealth Solutions Inc. grew its holdings in Corpay by 4.7% in the 2nd quarter. Atria Wealth Solutions Inc. now owns 695 shares of the company's stock valued at $231,000 after buying an additional 31 shares during the last quarter. Meeder Advisory Services Inc. raised its position in shares of Corpay by 5.0% during the first quarter. Meeder Advisory Services Inc. now owns 678 shares of the company's stock worth $236,000 after acquiring an additional 32 shares during the last quarter. Townsquare Capital LLC increased its holdings in Corpay by 0.7% in the first quarter. Townsquare Capital LLC now owns 4,520 shares of the company's stock valued at $1,576,000 after purchasing an additional 32 shares during the last quarter. Fulton Bank N.A. increased its holdings in Corpay by 2.1% in the first quarter. Fulton Bank N.A. now owns 1,665 shares of the company's stock valued at $581,000 after purchasing an additional 34 shares during the last quarter. Finally, Wedmont Private Capital grew its stake in Corpay by 3.2% in the first quarter. Wedmont Private Capital now owns 1,110 shares of the company's stock valued at $387,000 after acquiring an additional 34 shares during the period. 98.84% of the stock is owned by institutional investors and hedge funds.

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.