Corpay (NYSE:CPAY) Price Target Raised to $375.00

Corpay (NYSE:CPAY) had its target price hoisted by Wells Fargo & Company from $340.00 to $375.00 in a research report report published on Thursday,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

A number of other research firms have also weighed in on CPAY. Wolfe Research raised shares of Corpay from a “peer perform” rating to an “outperform” rating and set a $420.00 target price for the company in a report on Wednesday, January 8th. Bank of America raised their price target on Corpay from $344.00 to $375.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. Barclays raised their price target on Corpay from $385.00 to $415.00 and gave the stock an “overweight” rating in a research report on Monday, October 28th. Citigroup began coverage on Corpay in a research report on Tuesday, January 14th. They issued a “buy” rating and a $430.00 price target for the company. Finally, Jefferies Financial Group raised their price target on Corpay from $375.00 to $425.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Three investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Corpay presently has an average rating of “Moderate Buy” and an average target price of $381.43.

Corpay Trading Up 0.2 %

CPAY stock opened at $370.91 on Thursday. The firm has a fifty day moving average price of $359.95 and a 200 day moving average price of $325.86. Corpay has a fifty-two week low of $247.10 and a fifty-two week high of $385.30. The company has a debt-to-equity ratio of 1.69, a quick ratio of 1.05 and a current ratio of 1.05. The firm has a market cap of $25.86 billion, a PE ratio of 26.46, a price-to-earnings-growth ratio of 1.17 and a beta of 1.26.

Insider Buying and Selling at Corpay

In other news, CAO Alissa B. Vickery sold 8,000 shares of the business’s stock in a transaction dated 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 sale, the chief accounting officer now owns 1,797 shares in the company, valued at approximately $664,961.88. The trade was a 81.66 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Joseph W. Farrelly sold 2,975 shares of the business’s stock in a transaction dated 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 in the company, valued at $3,950,645.40. The trade was 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 large investors have recently modified their holdings of the business. JPMorgan Chase & Co. grew its stake in shares of Corpay by 2.3% during the third quarter. JPMorgan Chase & Co. now owns 5,287,311 shares of the company’s stock worth $1,653,659,000 after acquiring an additional 120,578 shares during the last quarter. FMR LLC grew its stake in shares of Corpay by 3.0% during the third quarter. FMR LLC now owns 2,692,847 shares of the company’s stock worth $842,215,000 after acquiring an additional 78,880 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Corpay by 1.4% during the third quarter. Geode Capital Management LLC now owns 1,677,899 shares of the company’s stock worth $523,061,000 after purchasing an additional 23,275 shares during the period. Dimensional Fund Advisors LP lifted its holdings 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. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Corpay by 0.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 458,477 shares of the company’s stock worth $143,393,000 after purchasing an additional 1,749 shares during the period. Hedge funds and other institutional investors own 98.84% of the company’s stock.

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.