Corpay (NYSE:CPAY) Releases Quarterly Earnings Results, Beats Estimates By $0.11 EPS

Corpay (NYSE:CPAY) issued its quarterly earnings results on Wednesday. The company reported $6.04 EPS for the quarter, beating analysts’ consensus estimates of $5.93 by $0.11, FiscalAI reports. The company had revenue of $1.25 billion during the quarter, compared to the consensus estimate 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 traded up $7.52 during trading hours on Wednesday, hitting $299.75. The company’s stock had a trading volume of 1,178,035 shares, compared to its average volume of 604,376. The business has a 50 day simple moving average of $311.75 and a two-hundred day simple moving average of $304.49. Corpay has a 52-week low of $252.84 and a 52-week high of $400.81. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.13 and a quick ratio of 1.13. The company has a market cap of $20.97 billion, a price-to-earnings ratio of 20.35, a PEG ratio of 0.93 and a beta of 0.82.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Williams Trading set a $300.00 target price on Corpay in a research report on Monday, November 3rd. Jefferies Financial Group restated a “buy” rating on shares of Corpay in a report on Monday, November 3rd. JPMorgan Chase & Co. lowered their price objective on shares of Corpay from $400.00 to $350.00 and set an “overweight” rating on the stock in a research report on Thursday, November 6th. Oppenheimer reduced their target price on shares of Corpay from $380.00 to $369.00 and set an “outperform” rating for the company in a research report on Monday, January 12th. Finally, UBS Group decreased their price target on shares of Corpay from $340.00 to $315.00 and set a “neutral” rating for the company in a research note on Thursday, November 6th. 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. Based on data from MarketBeat.com, Corpay currently has an average rating of “Moderate Buy” and an average price target of $369.46.

Insider Buying and Selling

In other Corpay news, Director Steven T. Stull acquired 8,000 shares of the business’s stock in a transaction that occurred on Friday, December 12th. The stock was bought at an average cost of $314.98 per share, with a total value of $2,519,840.00. Following the acquisition, the director owned 29,241 shares in the company, valued at approximately $9,210,330.18. This represents a 37.66% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 5.04% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of CPAY. CIBC Bancorp USA Inc. bought a new position in shares of Corpay in the third quarter worth $2,769,000. Sunbelt Securities Inc. grew its position in Corpay by 144.0% during the third quarter. Sunbelt Securities Inc. now owns 222 shares of the company’s stock worth $64,000 after buying an additional 131 shares in the last quarter. Coldstream Capital Management Inc. increased its stake in Corpay by 15.1% in the 3rd quarter. Coldstream Capital Management Inc. now owns 1,299 shares of the company’s stock worth $374,000 after acquiring an additional 170 shares during the last quarter. Danske Bank A S purchased a new stake in shares of Corpay in the 3rd quarter valued at about $12,353,000. Finally, Advisory Services Network LLC purchased a new stake in shares of Corpay in the 3rd quarter valued at about $48,000. 98.84% of the stock is owned by institutional investors.

About Corpay

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.