Keefe, Bruyette & Woods Raises Corpay (NYSE:CPAY) Price Target to $425.00

Corpay (NYSE:CPAY) had its price target upped by analysts at Keefe, Bruyette & Woods from $400.00 to $425.00 in a report issued on Monday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Keefe, Bruyette & Woods’ target price suggests a potential upside of 16.64% from the company’s current price.

A number of other research analysts also recently commented on the stock. BMO Capital Markets raised their target price on shares of Corpay from $350.00 to $390.00 and gave the company an “outperform” rating in a research report on Thursday, October 3rd. JPMorgan Chase & Co. boosted their price objective on shares of Corpay from $327.00 to $353.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 20th. Bank of America increased their target price on Corpay from $344.00 to $375.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. Jefferies Financial Group boosted their price target on Corpay from $375.00 to $425.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Finally, Wolfe Research upgraded Corpay from an “underperform” rating to a “peer perform” rating in a research note on Tuesday, September 3rd. Four research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $365.71.

Corpay Stock Down 0.4 %

Shares of CPAY traded down $1.40 during midday trading on Monday, reaching $364.36. 81,106 shares of the stock were exchanged, compared to its average volume of 470,217. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 1.69. The company’s 50 day moving average is $352.03 and its two-hundred day moving average is $308.00. The company has a market capitalization of $25.40 billion, a P/E ratio of 25.99, a PEG ratio of 1.43 and a beta of 1.24. Corpay has a 52 week low of $247.10 and a 52 week high of $385.30.

Insider Activity at Corpay

In other Corpay news, Director Joseph W. Farrelly sold 2,975 shares of the firm’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $375.18, for a total value of $1,116,160.50. Following the sale, the director now directly owns 10,530 shares of the company’s stock, valued at approximately $3,950,645.40. This trade represents a 22.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Alissa B. Vickery sold 8,000 shares of Corpay stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $370.04, for a total transaction of $2,960,320.00. Following the completion of the sale, the chief accounting officer now directly owns 1,797 shares in the company, valued at $664,961.88. This represents a 81.66 % decrease in their position. The disclosure for this sale can be found here. 6.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On Corpay

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. FMR LLC raised its holdings in Corpay by 3.0% in the 3rd quarter. FMR LLC now owns 2,692,847 shares of the company’s stock valued at $842,215,000 after acquiring an additional 78,880 shares during the last quarter. Geode Capital Management LLC lifted its position in Corpay by 1.4% during the third quarter. Geode Capital Management LLC now owns 1,677,899 shares of the company’s stock worth $523,061,000 after buying an additional 23,275 shares in the last quarter. Mawer Investment Management Ltd. boosted its stake in Corpay by 1.1% during the second quarter. Mawer Investment Management Ltd. now owns 1,177,297 shares of the company’s stock worth $313,644,000 after buying an additional 12,338 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Corpay by 10.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 718,752 shares of the company’s stock valued at $191,497,000 after buying an additional 70,408 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Corpay by 0.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 458,477 shares of the company’s stock worth $143,393,000 after acquiring an additional 1,749 shares during the last quarter. 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.