Corpay (NYSE:CPAY) Price Target Raised to $430.00

Corpay (NYSE:CPAY) had its target price boosted by Citigroup from $405.00 to $430.00 in a research note released on Thursday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other equities research analysts also recently issued reports on CPAY. Wolfe Research raised shares of Corpay from an “underperform” rating to a “peer perform” rating in a research report on Tuesday, September 3rd. Royal Bank of Canada reissued a “sector perform” rating and set a $310.00 price target on shares of Corpay in a report on Thursday, August 8th. Morgan Stanley raised 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. Jefferies Financial Group boosted their price objective on Corpay from $375.00 to $425.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Finally, Wells Fargo & Company raised their target price 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. Four analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $363.93.

Corpay Stock Performance

Shares of NYSE CPAY opened at $363.36 on Thursday. Corpay has a 12-month low of $230.68 and a 12-month high of $375.98. The firm has a market capitalization of $25.33 billion, a price-to-earnings ratio of 25.92, a price-to-earnings-growth ratio of 1.44 and a beta of 1.21. The company has a current ratio of 1.05, a quick ratio of 1.02 and a debt-to-equity ratio of 1.69. The firm has a 50 day moving average of $331.97 and a 200 day moving average of $298.75.

Insiders Place Their Bets

In other Corpay news, Director Joseph W. Farrelly sold 2,975 shares of Corpay 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 owns 10,530 shares of the company’s stock, valued at $3,950,645.40. The trade was a 22.03 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 6.10% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. purchased a new stake in Corpay during the first quarter valued at $2,431,089,000. JPMorgan Chase & Co. bought a new stake in shares of Corpay in the 1st quarter worth about $1,429,445,000. Price T Rowe Associates Inc. MD purchased a new stake in shares of Corpay during the 1st quarter valued at about $1,355,377,000. Boston Partners bought a new position in shares of Corpay in the 1st quarter valued at about $553,667,000. Finally, Third Point LLC purchased a new position in Corpay in the first quarter worth about $200,551,000. 98.84% of the stock is owned by hedge funds and other institutional investors.

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.