Corpay, Inc. (NYSE:CPAY) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Corpay, Inc. (NYSE:CPAY) have received a consensus rating of “Moderate Buy” from the fifteen ratings firms that are currently covering the company, Marketbeat.com reports. Three research analysts have rated the stock with a hold recommendation, eleven have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $377.50.

Several analysts recently issued reports on CPAY shares. Wolfe Research raised Corpay from a “peer perform” rating to an “outperform” rating and set a $420.00 price target on the stock in a report on Wednesday, January 8th. Morgan Stanley raised their price target on Corpay from $325.00 to $350.00 and gave the stock an “equal weight” rating in a report on Monday, November 11th. Wells Fargo & Company raised their price target on Corpay from $285.00 to $320.00 and gave the stock an “equal weight” rating in a report on Monday, October 21st. Jefferies Financial Group raised their price target on Corpay from $375.00 to $425.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Finally, Citigroup raised their price target on Corpay from $405.00 to $430.00 and gave the stock a “buy” rating in a report on Thursday, November 14th.

Insider Buying and Selling at Corpay

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

Hedge Funds Weigh In On Corpay

Several hedge funds have recently modified their holdings of CPAY. Acadian Asset Management LLC acquired a new position in shares of Corpay during the 2nd quarter valued at $571,000. Choreo LLC acquired a new position in shares of Corpay during the 2nd quarter valued at $284,000. Federated Hermes Inc. grew its holdings in shares of Corpay by 3,514.3% in the 2nd quarter. Federated Hermes Inc. now owns 253 shares of the company’s stock worth $67,000 after acquiring an additional 246 shares during the last quarter. Oppenheimer Asset Management Inc. raised its position in shares of Corpay by 9.7% during the second quarter. Oppenheimer Asset Management Inc. now owns 3,533 shares of the company’s stock worth $941,000 after purchasing an additional 311 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in shares of Corpay by 10.9% during the second quarter. Dimensional Fund Advisors LP now owns 718,752 shares of the company’s stock worth $191,497,000 after purchasing an additional 70,408 shares during the period. 98.84% of the stock is currently owned by institutional investors and hedge funds.

Corpay Trading Up 1.3 %

NYSE:CPAY opened at $352.90 on Tuesday. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 1.69. The business’s 50 day moving average is $358.56 and its two-hundred day moving average is $323.91. Corpay has a 52 week low of $247.10 and a 52 week high of $385.30. The company has a market cap of $24.60 billion, a PE ratio of 25.17, a P/E/G ratio of 1.40 and a beta of 1.26.

Corpay Company Profile

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.