Corpay (NYSE:CPAY) Posts Quarterly Earnings Results, Beats Expectations By $0.11 EPS

Corpay (NYSE:CPAY) announced its earnings results on Wednesday. The company reported $6.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.93 by $0.11, FiscalAI reports. The firm had revenue of $1.25 billion during the quarter, compared to analysts’ expectations of $1.23 billion. Corpay had a return on equity of 37.83% and a net margin of 24.37%.

Corpay Stock Performance

Shares of CPAY stock traded up $7.52 during mid-day trading on Wednesday, hitting $299.75. The stock had a trading volume of 1,175,837 shares, compared to its average volume of 591,505. The firm has a market cap of $20.97 billion, a PE ratio of 20.35, a PEG ratio of 0.93 and a beta of 0.82. The company’s 50-day simple moving average is $311.75 and its 200-day simple moving average is $304.49. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.13 and a quick ratio of 1.13. Corpay has a fifty-two week low of $252.84 and a fifty-two week high of $400.81.

Insider Buying and Selling

In other news, Director Steven T. Stull acquired 8,000 shares of Corpay stock in a transaction that occurred on Friday, December 12th. The stock was purchased at an average price of $314.98 per share, for a total transaction of $2,519,840.00. Following the completion of the transaction, the director directly owned 29,241 shares in the company, valued at approximately $9,210,330.18. This trade represents a 37.66% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 5.04% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Corpay

A number of large investors have recently modified their holdings of the business. BOKF NA lifted its holdings in shares of Corpay by 4,700.0% in the 3rd quarter. BOKF NA now owns 96 shares of the company’s stock valued at $28,000 after buying an additional 94 shares during the period. Advisory Services Network LLC acquired a new position in Corpay during the third quarter worth $48,000. Sunbelt Securities Inc. raised its position in Corpay by 144.0% in the third quarter. Sunbelt Securities Inc. now owns 222 shares of the company’s stock worth $64,000 after acquiring an additional 131 shares in the last quarter. MUFG Securities EMEA plc acquired a new stake in Corpay in the second quarter valued at $68,000. Finally, Quarry LP boosted its position in shares of Corpay by 244.2% during the 3rd quarter. Quarry LP now owns 265 shares of the company’s stock worth $76,000 after purchasing an additional 188 shares in the last quarter. 98.84% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Weiss Ratings reiterated a “hold (c+)” rating on shares of Corpay in a research note on Monday, December 29th. Jefferies Financial Group reiterated a “buy” rating on shares of Corpay in a research report on Monday, November 3rd. Morgan Stanley started coverage on shares of Corpay in a research note on Monday, January 26th. They set an “overweight” rating and a $379.00 price target for the company. UBS Group dropped their price objective on shares of Corpay from $340.00 to $315.00 and set a “neutral” rating on the stock in a research note on Thursday, November 6th. Finally, Williams Trading set a $300.00 target price on shares of Corpay in a report on Monday, November 3rd. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $369.46.

Corpay Company Profile

Corpay (NYSE:CPAY) is a global payments and fintech company that provides businesses with tools to manage, move and optimize corporate spend. The company focuses on commercial payments, foreign exchange and cross-border transactions, aiming to simplify treasury operations and reduce friction in business-to-business payments through technology-driven solutions.

Its product offering includes payment processing and accounts payable automation, corporate and virtual card programs, expense management tools, and foreign-exchange hedging and execution services for international payments.