Corpay (NYSE:CPAY – Free Report) had its target price boosted by Citigroup from $325.00 to $355.00 in a research note released on Wednesday morning, Benzinga reports. The brokerage currently has a buy rating on the stock.
A number of other brokerages have also recently issued reports on CPAY. Jefferies Financial Group increased their target price on shares of Corpay from $340.00 to $355.00 and gave the stock a buy rating in a research report on Friday, April 12th. Barclays raised their price objective on shares of Corpay from $340.00 to $355.00 and gave the stock an overweight rating in a report on Tuesday. Finally, Robert W. Baird boosted their target price on Corpay from $355.00 to $376.00 and gave the stock an outperform rating in a report on Thursday, April 4th.
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Corpay Trading Down 0.4 %
Corpay (NYSE:CPAY – Get Free Report) last announced its quarterly earnings results on Wednesday, February 7th. The company reported $4.17 earnings per share for the quarter, beating analysts’ consensus estimates of $4.16 by $0.01. Corpay had a return on equity of 37.56% and a net margin of 26.13%. The firm had revenue of $937.32 million for the quarter, compared to analysts’ expectations of $968.39 million. On average, analysts forecast that Corpay will post 18.17 earnings per share for the current year.
Institutional Investors Weigh In On Corpay
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Sunbelt Securities Inc. acquired a new position in shares of Corpay during the first quarter worth approximately $34,000. Massmutual Trust Co. FSB ADV acquired a new stake in shares of Corpay in the first quarter valued at approximately $61,000. Financial Management Professionals Inc. bought a new position in Corpay in the 1st quarter worth approximately $130,000. GAMMA Investing LLC acquired a new position in Corpay during the 1st quarter worth $149,000. Finally, First Trust Direct Indexing L.P. acquired a new position in Corpay during the 1st quarter worth $229,000. Institutional investors and hedge funds 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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