Corpay (NYSE:CPAY) Given New $430.00 Price Target at Citigroup

Corpay (NYSE:CPAY) had its target price boosted by Citigroup from $405.00 to $430.00 in a report released on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Citigroup’s price target would indicate a potential upside of 18.34% from the company’s previous close.

Several other equities research analysts have also recently commented on the stock. Wells Fargo & Company boosted their price objective on shares of Corpay from $285.00 to $320.00 and gave the company an “equal weight” rating in a research report on Monday, October 21st. Keefe, Bruyette & Woods boosted their price target on Corpay from $380.00 to $400.00 and gave the company an “outperform” rating in a report on Friday, November 8th. JPMorgan Chase & Co. upped their price objective on Corpay from $327.00 to $353.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 20th. Morgan Stanley lifted their target price on Corpay from $325.00 to $350.00 and gave the company an “equal weight” rating in a research report on Monday, November 11th. Finally, Barclays upped 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. Four investment 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 stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $363.93.

Corpay Stock Performance

Shares of CPAY opened at $363.36 on Thursday. The firm has a market cap of $25.33 billion, a P/E ratio of 25.92, a PEG ratio of 1.44 and a beta of 1.21. Corpay has a twelve month low of $230.68 and a twelve month high of $375.98. The company has a debt-to-equity ratio of 1.69, a quick ratio of 1.02 and a current ratio of 1.05. The firm’s 50 day moving average price is $330.77 and its two-hundred day moving average price is $298.37.

Insider Buying and Selling

In related news, Director Joseph W. Farrelly sold 2,975 shares of Corpay 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 in the company, valued at approximately $3,950,645.40. This trade represents a 22.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 6.10% of the stock is owned by corporate insiders.

Institutional Trading of Corpay

A number of hedge funds have recently made changes to their positions in the business. Albion Financial Group UT acquired a new position in shares of Corpay during the 3rd quarter worth approximately $27,000. Headlands Technologies LLC bought a new position in Corpay during the first quarter worth $31,000. LGT Financial Advisors LLC acquired a new position in shares of Corpay in the second quarter valued at $33,000. Huntington National Bank raised its position in shares of Corpay by 43.0% in the third quarter. Huntington National Bank now owns 133 shares of the company’s stock valued at $42,000 after purchasing an additional 40 shares during the period. Finally, Innealta Capital LLC bought a new position in shares of Corpay in the second quarter valued at about $36,000. 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.