Corpay (NYSE:CPAY) Price Target Raised to $440.00

Corpay (NYSE:CPAY) had its target price lifted by stock analysts at BMO Capital Markets from $400.00 to $440.00 in a research report issued on Friday,Benzinga reports. The firm currently has an “outperform” rating on the stock. BMO Capital Markets’ price target would indicate a potential upside of 21.12% from the stock’s current price.

A number of other research analysts also recently weighed in on CPAY. Wolfe Research upgraded Corpay from an “underperform” rating to a “peer perform” rating in a report on Tuesday, September 3rd. Morgan Stanley upped their price target on Corpay from $325.00 to $350.00 and gave the stock an “equal weight” rating in a research note on Monday, November 11th. Bank of America raised their price objective on Corpay from $344.00 to $375.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. Wells Fargo & Company upped their target price on shares of Corpay from $285.00 to $320.00 and gave the stock an “equal weight” rating in a research report on Monday, October 21st. Finally, Citigroup lifted their price target on shares of Corpay from $405.00 to $430.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Four equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $369.29.

Corpay Price Performance

Shares of Corpay stock opened at $363.28 on Friday. The company’s fifty day simple moving average is $355.66 and its two-hundred day simple moving average is $310.01. Corpay has a 12-month low of $247.10 and a 12-month high of $385.30. The firm has a market cap of $25.32 billion, a PE ratio of 25.77, a price-to-earnings-growth ratio of 1.43 and a beta of 1.24. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 1.69.

Insider Activity

In other Corpay news, CAO Alissa B. Vickery sold 8,000 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $370.04, for a total transaction of $2,960,320.00. Following the sale, the chief accounting officer now directly owns 1,797 shares of the company’s stock, valued at $664,961.88. This trade represents a 81.66 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Joseph W. Farrelly sold 2,975 shares of the stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $375.18, for a total transaction 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 disclosure for this sale can be found here. Insiders own 6.10% of the company’s stock.

Institutional Investors Weigh In On Corpay

A number of hedge funds have recently bought and sold shares of CPAY. Albion Financial Group UT purchased a new stake in Corpay during the third quarter valued at approximately $27,000. LGT Financial Advisors LLC bought a new position in Corpay in the 2nd quarter valued at $33,000. Blue Trust Inc. increased its stake in Corpay by 246.2% in the second quarter. Blue Trust Inc. now owns 135 shares of the company’s stock worth $36,000 after purchasing an additional 96 shares during the period. Innealta Capital LLC bought a new stake in shares of Corpay during the second quarter worth $36,000. Finally, Whittier Trust Co. of Nevada Inc. purchased a new stake in shares of Corpay during the second quarter valued at $40,000. Hedge funds and other institutional investors 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.