Corpay, Inc. (NYSE:CPAY) Receives $369.29 Consensus Price Target from Brokerages

Corpay, Inc. (NYSE:CPAY) has been given a consensus rating of “Moderate Buy” by the fifteen analysts that are covering the firm, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation, ten have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $369.29.

CPAY has been the topic of several research reports. Wolfe Research raised Corpay from an “underperform” rating to a “peer perform” rating in a research report on Tuesday, September 3rd. Keefe, Bruyette & Woods lifted their price target on shares of Corpay from $400.00 to $425.00 and gave the stock an “outperform” rating in a research note on Monday, December 9th. Jefferies Financial Group upped their price objective on shares of Corpay from $375.00 to $425.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. BMO Capital Markets lifted their target price on Corpay from $400.00 to $440.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Finally, Morgan Stanley increased their price target on Corpay from $325.00 to $350.00 and gave the company an “equal weight” rating in a report on Monday, November 11th.

Insider Buying and Selling

In other Corpay news, CAO Alissa B. Vickery sold 8,000 shares of the firm’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $370.04, for a total value of $2,960,320.00. Following the sale, the chief accounting officer now directly 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 transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Joseph W. Farrelly sold 2,975 shares of the company’s stock in a transaction dated 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 completion of the transaction, the director now 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 position. The disclosure for this sale can be found here. 6.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. JPMorgan Chase & Co. raised its holdings in shares of Corpay by 2.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 5,287,311 shares of the company’s stock worth $1,653,659,000 after purchasing an additional 120,578 shares in the last quarter. FMR LLC raised its position in Corpay by 3.0% during the third quarter. FMR LLC now owns 2,692,847 shares of the company’s stock valued at $842,215,000 after buying an additional 78,880 shares during the period. Geode Capital Management LLC increased its holdings in shares of Corpay by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 1,677,899 shares of the company’s stock valued at $523,061,000 after purchasing an additional 23,275 shares during the period. Mawer Investment Management Ltd. increased its stake in Corpay by 1.1% in the 2nd quarter. Mawer Investment Management Ltd. now owns 1,177,297 shares of the company’s stock valued at $313,644,000 after buying an additional 12,338 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Corpay by 10.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 718,752 shares of the company’s stock valued at $191,497,000 after acquiring an additional 70,408 shares in the last quarter. Institutional investors and hedge funds own 98.84% of the company’s stock.

Corpay Stock Performance

Shares of NYSE:CPAY opened at $345.28 on Friday. Corpay has a 12 month low of $247.10 and a 12 month high of $385.30. The business has a 50-day moving average of $357.31 and a two-hundred day moving average of $315.88. The company has a debt-to-equity ratio of 1.69, a current ratio of 1.05 and a quick ratio of 1.05. The firm has a market capitalization of $24.07 billion, a PE ratio of 24.63, a P/E/G ratio of 1.43 and a beta of 1.23.

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.