Barclays Issues Pessimistic Forecast for Corpay (NYSE:CPAY) Stock Price

Corpay (NYSE:CPAY) had its price objective reduced by equities research analysts at Barclays from $440.00 to $400.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Barclays‘s price objective suggests a potential upside of 28.39% from the stock’s current price.

Several other equities research analysts also recently weighed in on CPAY. Royal Bank of Canada raised their price objective on Corpay from $354.00 to $400.00 and gave the company a “sector perform” rating in a report on Thursday, February 6th. Raymond James cut their price target on Corpay from $434.00 to $417.00 and set an “outperform” rating on the stock in a research note on Thursday, February 6th. Citigroup started coverage on Corpay in a research note on Tuesday, January 14th. They issued a “buy” rating and a $430.00 price objective for the company. Wells Fargo & Company raised their price objective on shares of Corpay from $340.00 to $375.00 and gave the company an “equal weight” rating in a report on Thursday, January 16th. Finally, Morgan Stanley boosted their target price on shares of Corpay from $350.00 to $380.00 and gave the stock an “equal weight” rating in a report on Thursday, February 6th. Three equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Corpay has a consensus rating of “Moderate Buy” and an average target price of $400.38.

Corpay Price Performance

NYSE CPAY traded up $6.06 during trading on Monday, hitting $311.54. 32,658 shares of the company’s stock were exchanged, compared to its average volume of 491,358. The company has a market cap of $21.89 billion, a PE ratio of 22.28, a P/E/G ratio of 1.32 and a beta of 1.11. The company has a current ratio of 1.00, a quick ratio of 1.05 and a debt-to-equity ratio of 1.66. Corpay has a fifty-two week low of $247.10 and a fifty-two week high of $400.81. The stock’s 50 day moving average price is $348.19 and its two-hundred day moving average price is $352.36.

Corpay (NYSE:CPAY) last released its quarterly earnings data on Wednesday, February 5th. The company reported $4.96 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.37 by ($0.41). Corpay had a return on equity of 41.46% and a net margin of 25.25%. Research analysts expect that Corpay will post 19.76 EPS for the current year.

Insider Activity at Corpay

In related news, Director Richard Macchia sold 2,427 shares of the business’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $375.23, for a total transaction of $910,683.21. Following the completion of the transaction, the director now owns 12,215 shares of the company’s stock, valued at approximately $4,583,434.45. The trade was a 16.58 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 6.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On Corpay

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Avion Wealth increased its position in shares of Corpay by 1,011.1% during the 4th quarter. Avion Wealth now owns 100 shares of the company’s stock valued at $33,000 after purchasing an additional 91 shares during the last quarter. Colonial Trust Co SC boosted its stake in Corpay by 120.5% in the fourth quarter. Colonial Trust Co SC now owns 97 shares of the company’s stock worth $33,000 after buying an additional 53 shares in the last quarter. Versant Capital Management Inc boosted its stake in Corpay by 130.4% in the fourth quarter. Versant Capital Management Inc now owns 106 shares of the company’s stock worth $36,000 after buying an additional 60 shares in the last quarter. Spire Wealth Management bought a new position in Corpay during the fourth quarter valued at approximately $42,000. Finally, Assetmark Inc. raised its stake in shares of 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 in the last quarter. 98.84% of the stock is owned by hedge funds and other institutional investors.

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.