Keefe, Bruyette & Woods Cuts Corpay (NYSE:CPAY) Price Target to $415.00

Corpay (NYSE:CPAY) had its price target trimmed by Keefe, Bruyette & Woods from $425.00 to $415.00 in a report published on Monday,Benzinga reports. The firm currently has an outperform rating on the stock.

A number of other equities research analysts have also recently issued reports on CPAY. Jefferies Financial Group upped their price target on shares of Corpay from $375.00 to $425.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Morgan Stanley upped their target price on shares of Corpay from $325.00 to $350.00 and gave the company an “equal weight” rating in a research note on Monday, November 11th. Bank of America raised their price target on shares of Corpay from $344.00 to $375.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. Barclays upped their price objective on shares of Corpay from $385.00 to $415.00 and gave the company an “overweight” rating in a research report on Monday, October 28th. Finally, Wells Fargo & Company lifted their target price on Corpay from $285.00 to $320.00 and gave the stock an “equal weight” rating in a research report on Monday, October 21st. Three equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $377.50.

Corpay Stock Up 2.9 %

CPAY opened at $357.74 on Monday. The firm has a market cap of $24.94 billion, a P/E ratio of 25.52, a price-to-earnings-growth ratio of 1.40 and a beta of 1.26. 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 business has a 50 day moving average price of $357.15 and a 200 day moving average price of $321.78. Corpay has a twelve month low of $247.10 and a twelve month high of $385.30.

Insider Activity at Corpay

In other news, Director Joseph W. Farrelly sold 2,975 shares of the firm’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $375.18, for a total transaction of $1,116,160.50. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Alissa B. Vickery sold 8,000 shares of Corpay stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $370.04, for a total transaction of $2,960,320.00. Following the completion of the transaction, the chief accounting officer now owns 1,797 shares of the company’s stock, valued at $664,961.88. This trade represents a 81.66 % 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 hedge funds and other institutional investors have recently bought and sold shares of CPAY. Albion Financial Group UT acquired a new position in Corpay in the third quarter worth $27,000. Versant Capital Management Inc raised its holdings in shares of Corpay by 130.4% in the fourth quarter. Versant Capital Management Inc now owns 106 shares of the company’s stock valued at $36,000 after buying an additional 60 shares during the last quarter. Huntington National Bank lifted its position in Corpay by 43.0% during the 3rd quarter. Huntington National Bank now owns 133 shares of the company’s stock worth $42,000 after buying an additional 40 shares in the last quarter. Quarry LP bought a new stake in Corpay during the 3rd quarter worth about $42,000. Finally, Continuum Advisory LLC increased its position in Corpay by 47.9% in the 3rd quarter. Continuum Advisory LLC now owns 142 shares of the company’s stock valued at $44,000 after acquiring an additional 46 shares in the last quarter. 98.84% of the stock is owned by institutional investors and hedge funds.

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.