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

Corpay (NYSE:CPAY - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "hold" rating to a "buy" rating in a research note issued to investors on Friday.

A number of other equities research analysts have also commented on CPAY. Oppenheimer began coverage on Corpay in a research report on Monday, April 28th. They set a "market perform" rating on the stock. UBS Group dropped their price target on Corpay from $400.00 to $365.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 7th. Deutsche Bank Aktiengesellschaft began coverage on Corpay in a research report on Thursday. They set a "buy" rating and a $390.00 price target on the stock. Wells Fargo & Company dropped their price target on Corpay from $375.00 to $339.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 24th. Finally, Raymond James Financial reaffirmed an "outperform" rating and set a $414.00 price target (down previously from $417.00) on shares of Corpay in a research report on Wednesday, May 7th. Five analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Corpay currently has a consensus rating of "Moderate Buy" and an average target price of $401.07.

Corpay Trading Down 0.9%

CPAY traded down $3.00 during midday trading on Friday, reaching $332.10. 431,368 shares of the company were exchanged, compared to its average volume of 474,547. 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 one year low of $265.06 and a one year high of $400.81. The stock has a market capitalization of $23.41 billion, a P/E ratio of 23.29, a PEG ratio of 1.41 and a beta of 0.95. The stock's 50-day simple moving average is $332.89 and its 200 day simple moving average is $341.75.

Corpay (NYSE:CPAY - Get Free Report) last issued its 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. Corpay had a return on equity of 41.61% and a net margin of 25.15%. The firm had revenue of $1.01 billion for the quarter, compared to analysts' expectations of $1.02 billion. During the same quarter last year, the business earned $4.10 earnings per share. The company's revenue was up 7.5% compared to the same quarter last year. As a group, 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 hedge funds and other institutional investors have recently bought and sold shares of CPAY. Envestnet Portfolio Solutions Inc. raised its position in Corpay by 2.4% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 4,768 shares of the company's stock valued at $1,614,000 after buying an additional 110 shares during the last quarter. Intech Investment Management LLC acquired a new position in shares of Corpay during the 4th quarter worth approximately $867,000. Vinva Investment Management Ltd increased its position in shares of Corpay by 14.3% during the 4th quarter. Vinva Investment Management Ltd now owns 4,912 shares of the company's stock worth $1,658,000 after purchasing an additional 614 shares during the last quarter. Harvest Fund Management Co. Ltd acquired a new position in shares of Corpay during the 4th quarter worth approximately $176,000. Finally, Royal London Asset Management Ltd. increased its position in shares of Corpay by 6.8% during the 4th quarter. Royal London Asset Management Ltd. now owns 31,690 shares of the company's stock worth $10,725,000 after purchasing an additional 2,007 shares during the last quarter. Institutional investors and hedge funds 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.

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