Corpay (NYSE:CPAY) Price Target Raised to $425.00

Corpay (NYSE:CPAY) had its target price upped by analysts at Keefe, Bruyette & Woods from $400.00 to $425.00 in a report issued on Monday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Keefe, Bruyette & Woods’ price objective indicates a potential upside of 16.64% from the company’s current price.

CPAY has been the topic of a number of other research reports. Bank of America increased their price target on shares of Corpay from $344.00 to $375.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. Barclays boosted their price target on Corpay from $385.00 to $415.00 and gave the stock an “overweight” rating in a research note on Monday, October 28th. Wolfe Research raised Corpay from an “underperform” rating to a “peer perform” rating in a research report on Tuesday, September 3rd. Jefferies Financial Group boosted their target price on Corpay from $375.00 to $425.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Finally, JPMorgan Chase & Co. raised their price target on shares of Corpay from $327.00 to $353.00 and gave the company an “overweight” rating in a report on Tuesday, August 20th. Four 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’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $365.71.

Corpay Stock Down 0.4 %

Shares of CPAY traded down $1.40 during trading hours on Monday, hitting $364.36. The company had a trading volume of 81,106 shares, compared to its average volume of 470,217. Corpay has a 52-week low of $247.10 and a 52-week high of $385.30. The firm has a fifty day moving average price of $352.03 and a 200-day moving average price of $308.00. The stock has a market capitalization of $25.40 billion, a price-to-earnings ratio of 25.99, a P/E/G ratio of 1.43 and a beta of 1.24. The company has a debt-to-equity ratio of 1.69, a quick ratio of 1.05 and a current ratio of 1.05.

Insiders Place Their Bets

In related news, 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 directly owns 10,530 shares in the company, valued at approximately $3,950,645.40. The trade was a 22.03 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Alissa B. Vickery sold 8,000 shares of Corpay stock in a transaction that occurred 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 completion of the sale, the chief accounting officer now directly owns 1,797 shares in the company, valued at approximately $664,961.88. The trade was a 81.66 % decrease in their position. The disclosure for this sale can be found here. 6.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Corpay

Several large investors have recently bought and sold shares of CPAY. Cetera Investment Advisers bought a new stake in shares of Corpay in the 1st quarter worth about $1,628,000. CWM LLC bought a new stake in shares of Corpay during the 2nd quarter worth approximately $426,000. Simplicity Wealth LLC boosted its holdings in Corpay by 13.3% during the 2nd quarter. Simplicity Wealth LLC now owns 767 shares of the company’s stock valued at $204,000 after acquiring an additional 90 shares during the period. Czech National Bank increased its stake in Corpay by 5.4% in the second quarter. Czech National Bank now owns 13,391 shares of the company’s stock worth $3,567,000 after purchasing an additional 687 shares during the period. Finally, Securian Asset Management Inc. bought a new position in shares of Corpay in the second quarter worth about $1,042,000. Institutional investors 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.