Keefe, Bruyette & Woods Has Lowered Expectations for Corpay (NYSE:CPAY) Stock Price

Corpay (NYSE:CPAY) had its price target reduced by Keefe, Bruyette & Woods from $425.00 to $415.00 in a research note issued to investors on Monday morning,Benzinga reports. Keefe, Bruyette & Woods currently has an outperform rating on the stock.

A number of other research analysts also recently issued reports on CPAY. Wells Fargo & Company upped their target price on shares of Corpay from $285.00 to $320.00 and gave the company an “equal weight” rating in a research report on Monday, October 21st. Citigroup increased their price objective on shares of Corpay from $405.00 to $430.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Barclays lifted their target price on shares of Corpay from $385.00 to $415.00 and gave the stock an “overweight” rating in a report on Monday, October 28th. Bank of America increased their price target on Corpay from $344.00 to $375.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. Finally, Morgan Stanley lifted their price objective on Corpay from $325.00 to $350.00 and gave the stock an “equal weight” rating in a research note on Monday, November 11th. Three investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Corpay has a consensus rating of “Moderate Buy” and a consensus price target of $377.50.

Corpay Trading Up 2.9 %

Shares of CPAY opened at $357.74 on Monday. The stock’s fifty day simple moving average is $357.15 and its 200-day simple moving average is $321.78. The firm has a market capitalization of $24.94 billion, a PE ratio of 25.52, a price-to-earnings-growth ratio of 1.40 and a beta of 1.26. Corpay has a 12-month low of $247.10 and a 12-month high of $385.30. 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 at Corpay

In other Corpay news, CAO Alissa B. Vickery sold 8,000 shares of the company’s stock in a transaction on 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 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Joseph W. Farrelly sold 2,975 shares of the business’s stock in a transaction 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 transaction, the director now directly owns 10,530 shares of the company’s stock, valued at $3,950,645.40. This trade represents a 22.03 % decrease in their position. The disclosure for this sale can be found here. 6.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Corpay

A number of hedge funds and other institutional investors have recently bought and sold shares of CPAY. Oppenheimer Asset Management Inc. boosted its position in Corpay by 66.7% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 5,888 shares of the company’s stock worth $1,842,000 after buying an additional 2,355 shares during the period. Swedbank AB raised its position in shares of Corpay by 46.3% during the third quarter. Swedbank AB now owns 186,117 shares of the company’s stock worth $58,210,000 after acquiring an additional 58,900 shares during the last quarter. Wilkins Investment Counsel Inc. increased its position in Corpay by 16.8% during the 2nd quarter. Wilkins Investment Counsel Inc. now owns 22,425 shares of the company’s stock valued at $5,974,000 after purchasing an additional 3,225 shares during the period. Retireful LLC bought a new stake in shares of Corpay in the 3rd quarter valued at $702,000. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new position in Corpay in the third quarter valued at $527,000. 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.