Corpay (NYSE:CPAY) Given New $350.00 Price Target at Morgan Stanley

Corpay (NYSE:CPAY) had its target price upped by Morgan Stanley from $325.00 to $350.00 in a research report report published on Monday,Benzinga reports. They currently have an equal weight rating on the stock.

A number of other analysts have also weighed in on CPAY. Wells Fargo & Company upped their price target on shares of Corpay from $285.00 to $320.00 and gave the stock an “equal weight” rating in a research note on Monday, October 21st. Raymond James reduced their price target on shares of Corpay from $330.00 to $311.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. BMO Capital Markets upped their price target on shares of Corpay from $350.00 to $390.00 and gave the stock an “outperform” rating in a research note on Thursday, October 3rd. William Blair raised shares of Corpay to a “strong-buy” rating in a research note on Thursday, August 8th. Finally, Bank of America upped their price target on shares of Corpay from $344.00 to $375.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. Four equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $358.57.

Corpay Trading Up 2.0 %

Shares of NYSE:CPAY opened at $373.15 on Monday. The company has a 50 day moving average of $327.08 and a 200-day moving average of $296.85. The firm has a market cap of $25.91 billion, a P/E ratio of 26.62, a P/E/G ratio of 1.45 and a beta of 1.21. Corpay has a twelve month low of $228.51 and a twelve month high of $375.35. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 1.74.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in CPAY. Vanguard Group Inc. acquired a new position in Corpay in the 1st quarter valued at approximately $2,431,089,000. JPMorgan Chase & Co. acquired a new position in Corpay in the 1st quarter valued at approximately $1,429,445,000. Price T Rowe Associates Inc. MD acquired a new position in Corpay in the 1st quarter valued at approximately $1,355,377,000. Boston Partners acquired a new position in Corpay in the 1st quarter valued at approximately $553,667,000. Finally, Third Point LLC acquired a new position in Corpay in the 1st quarter valued at approximately $200,551,000. 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.