1 day Ago By ABMN Staff
Corpay, Inc. ( NYSE:CPAY – Get Free Report ) was the recipient of a large increase in short interest during the month of August. As of August 31st, there was short interest totalling 2,240,000 shares, an increase of 13.
1% from the August 15th total of 1,980,000 shares. Based on an average daily volume of 455,400 shares, the days-to-cover ratio is presently 4.9 days.
Currently, 3.3% of the shares of the company are short sold. Institutional Investors Weigh In On Corpay A number of institutional investors and hedge funds have recently modified their holdings of CPAY.
Vanguard Group Inc. purchased a new stake in shares of Corpay in the 1st quarter valued at approximately $2,431,089,000. JPMorgan Chase & Co.
purchased a new stake in shares of Corpay in the first quarter valued at $1,429,445,000. Price T Rowe Associates Inc. MD acquired a new stake in shares of Corpay in the first quarter worth $1,355,377,000.
Boston Partners purchased a new position in shares of Corpay during the first quarter valued at $553,667,000. Finally, Sustainable Growth Advisers LP acquired a new position in Corpay during the first quarter valued at $553,279,000. 98.
84% of the stock is owned by institutional investors and hedge funds. Corpay Trading Down 0.2 % NYSE:CPAY opened at $306.
88 on Wednesday. The firm’s 50-day simple moving average is $294.31.
The company has a market cap of $21.31 billion, a price-to-earnings ratio of 22.83, a price-to-earnings-growth ratio of 1.
22 and a beta of 1.22. The company has a debt-to-equity ratio of 1.
74, a quick ratio of 1.02 and a current ratio of 1.02.
Corpay has a twelve month low of $220.39 and a twelve month high of $319.94.
Analysts Set New Price Targets A number of equities research analysts have recently weighed in on the company. Evercore ISI cut their price target on Corpay from $350.00 to $345.
00 and set an “outperform” rating on the stock in a report on Tuesday, June 25th. JPMorgan Chase & Co. lifted their target price on Corpay from $327.
00 to $353.00 and gave the company an “overweight” rating in a research note on Tuesday, August 20th. Wells Fargo & Company initiated coverage on Corpay in a research note on Wednesday, June 5th.
They issued an “equal weight” rating and a $285.00 price target for the company. William Blair raised shares of Corpay to a “strong-buy” rating in a report on Thursday, August 8th.
Finally, Bank of America decreased their target price on shares of Corpay from $331.00 to $310.00 and set a “buy” rating for the company in a research report on Thursday, August 8th.
Three analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $332.50.
Check Out Our Latest Analysis on CPAY About Corpay ( Get Free Report ) 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. Further Reading Receive News & Ratings for Corpay Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Corpay and related companies with MarketBeat.
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