Morgan Stanley Issues Positive Forecast for Corpay (NYSE:CPAY) Stock Price

Corpay (NYSE:CPAY) had its price target raised by Morgan Stanley from $325.00 to $350.00 in a report published on Monday,Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

Other equities analysts also recently issued research reports about the stock. William Blair raised shares of Corpay to a “strong-buy” rating in a research note on Thursday, August 8th. JPMorgan Chase & Co. raised their target price on shares of Corpay from $327.00 to $353.00 and gave the company an “overweight” rating in a research note on Tuesday, August 20th. Keefe, Bruyette & Woods raised their target price on shares of Corpay from $380.00 to $400.00 and gave the company an “outperform” rating in a research note on Friday. BMO Capital Markets lifted their price target on shares of Corpay from $350.00 to $390.00 and gave the stock an “outperform” rating in a research note on Thursday, October 3rd. Finally, Wolfe Research raised shares of Corpay from an “underperform” rating to a “peer perform” rating in a research note on Tuesday, September 3rd. Four research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $358.57.

Corpay Stock Performance

Shares of CPAY stock opened at $373.15 on Monday. The company’s fifty day simple moving average is $327.08 and its 200-day simple moving average is $296.85. Corpay has a 52 week low of $228.51 and a 52 week high of $375.35. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 1.74. The company has a market cap of $25.91 billion, a PE ratio of 26.62, a P/E/G ratio of 1.45 and a beta of 1.21.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of CPAY. Albion Financial Group UT acquired a new position in Corpay during the 3rd quarter valued at about $27,000. Headlands Technologies LLC acquired a new position in Corpay during the 1st quarter valued at about $31,000. LGT Financial Advisors LLC acquired a new position in Corpay during the 2nd quarter valued at about $33,000. RFP Financial Group LLC acquired a new position in Corpay during the 1st quarter valued at about $35,000. Finally, Blue Trust Inc. boosted its stake in Corpay by 246.2% during the 2nd quarter. Blue Trust Inc. now owns 135 shares of the company’s stock valued at $36,000 after purchasing an additional 96 shares during the period. 98.84% of the stock is owned by institutional investors and hedge funds.

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.