Corpay (NYSE:CPAY) Updates Q4 Earnings Guidance

Corpay (NYSE:CPAY) updated its fourth quarter earnings guidance on Tuesday. The company provided EPS guidance of $5.25-5.45 for the period, compared to the consensus EPS estimate of $5.38.

Analyst Ratings Changes

CPAY has been the topic of a number of research reports. Morgan Stanley upped their target price on Corpay from $325.00 to $350.00 and gave the stock an “equal weight” rating in a research report on Monday, November 11th. Barclays upped their price objective on Corpay from $385.00 to $415.00 and gave the company an “overweight” rating in a research report on Monday, October 28th. JPMorgan Chase & Co. upped their price objective on Corpay from $327.00 to $353.00 and gave the company an “overweight” rating in a research report on Tuesday, August 20th. Jefferies Financial Group raised their price objective on Corpay from $375.00 to $425.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Finally, Raymond James lowered their price objective on Corpay from $330.00 to $311.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Four analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $363.93.

Corpay Stock Performance

NYSE CPAY opened at $382.94 on Tuesday. The company has a market capitalization of $26.69 billion, a P/E ratio of 27.31, a PEG ratio of 1.49 and a beta of 1.23. The company has a debt-to-equity ratio of 1.69, a current ratio of 1.05 and a quick ratio of 1.05. Corpay has a 1-year low of $247.10 and a 1-year high of $385.30. The business has a 50 day moving average price of $345.66 and a 200 day moving average price of $304.65.

Insider Transactions at Corpay

In other news, Director Joseph W. Farrelly sold 2,975 shares of Corpay stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $375.18, for a total transaction of $1,116,160.50. Following the completion of the transaction, the director now directly owns 10,530 shares in the company, valued at $3,950,645.40. This trade represents a 22.03 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Alissa B. Vickery sold 8,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $370.04, for a total transaction of $2,960,320.00. Following the sale, the chief accounting officer now directly owns 1,797 shares in the company, valued at $664,961.88. This trade represents a 81.66 % decrease in their position. The disclosure for this sale can be found here. 6.10% of the stock is currently owned by company insiders.

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.