Corpay (NYSE:CPAY) Hits New 12-Month High – Time to Buy?

Shares of Corpay, Inc. (NYSE:CPAY) hit a new 52-week high during trading on Friday . The stock traded as high as $368.12 and last traded at $368.00, with a volume of 44974 shares. The stock had previously closed at $346.50.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on CPAY. Royal Bank of Canada reiterated a “sector perform” rating and issued a $310.00 target price on shares of Corpay in a report on Thursday, August 8th. Morgan Stanley lifted their target price on Corpay from $275.00 to $325.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 29th. Raymond James dropped their price objective on shares of Corpay from $330.00 to $311.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. William Blair upgraded shares of Corpay to a “strong-buy” rating in a report on Thursday, August 8th. Finally, Wolfe Research upgraded shares of Corpay from an “underperform” rating to a “peer perform” rating in a research note on Tuesday, September 3rd. Four analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $353.46.

Corpay Price Performance

The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 1.74. The stock has a fifty day moving average of $324.21 and a 200-day moving average of $295.70. The stock has a market capitalization of $25.71 billion, a price-to-earnings ratio of 25.18, a P/E/G ratio of 1.30 and a beta of 1.21.

Corpay (NYSE:CPAY) last posted its earnings results on Wednesday, August 7th. The company reported $4.55 EPS for the quarter, beating analysts’ consensus estimates of $4.51 by $0.04. Corpay had a net margin of 26.41% and a return on equity of 38.93%. The firm had revenue of $975.70 million for the quarter, compared to the consensus estimate of $973.84 million. During the same period last year, the firm posted $3.85 EPS. The company’s revenue was up 2.9% on a year-over-year basis. On average, equities research analysts predict that Corpay, Inc. will post 17.96 EPS for the current fiscal year.

Institutional Trading of Corpay

Several institutional investors and hedge funds have recently made changes to their positions in the company. Empirical Finance LLC purchased a new stake in Corpay in the first quarter valued at approximately $829,000. EP Wealth Advisors LLC acquired a new stake in Corpay during the 1st quarter worth $949,000. Swedbank AB grew its position in Corpay by 26.9% during the 2nd quarter. Swedbank AB now owns 127,217 shares of the company’s stock worth $33,892,000 after purchasing an additional 27,000 shares during the last quarter. Swiss National Bank acquired a new position in Corpay in the first quarter valued at $66,706,000. Finally, DekaBank Deutsche Girozentrale purchased a new stake in shares of Corpay in the first quarter valued at about $10,171,000. 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.