Corpay (NYSE:CPAY) Price Target Raised to $380.00 at Morgan Stanley

Corpay (NYSE:CPAY) had its price objective raised by Morgan Stanley from $350.00 to $380.00 in a research note released on Thursday morning,Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

A number of other research firms have also recently weighed in on CPAY. Wells Fargo & Company lifted their price target on Corpay from $340.00 to $375.00 and gave the company an “equal weight” rating in a report on Thursday, January 16th. Citigroup began coverage on Corpay in a research report on Tuesday, January 14th. They set a “buy” rating and a $430.00 price target for the company. BMO Capital Markets raised their price target on Corpay from $400.00 to $440.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Keefe, Bruyette & Woods cut their price objective on shares of Corpay from $425.00 to $415.00 and set an “outperform” rating on the stock in a research note on Monday, January 6th. Finally, Bank of America increased their target price on shares of Corpay from $344.00 to $375.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. Three investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Corpay presently has a consensus rating of “Moderate Buy” and a consensus price target of $399.71.

Corpay Price Performance

Shares of NYSE CPAY opened at $389.35 on Thursday. The company has a debt-to-equity ratio of 1.69, a current ratio of 1.05 and a quick ratio of 1.05. The firm has a market capitalization of $27.14 billion, a PE ratio of 27.77, a P/E/G ratio of 1.30 and a beta of 1.28. Corpay has a 1-year low of $247.10 and a 1-year high of $400.81. The business’s fifty day moving average price is $361.54 and its two-hundred day moving average price is $335.21.

Corpay (NYSE:CPAY) last released its quarterly earnings data on Wednesday, February 5th. The company reported $4.96 earnings per share for the quarter, missing analysts’ consensus estimates of $5.37 by ($0.41). Corpay had a return on equity of 39.44% and a net margin of 26.14%. On average, research analysts expect that Corpay will post 17.84 EPS for the current year.

Insider Buying and Selling at Corpay

In other Corpay news, 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 transaction, 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Joseph W. Farrelly sold 2,975 shares of the stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $375.18, for a total value 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 $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 corporate insiders.

Institutional Investors Weigh In On Corpay

A number of institutional investors have recently bought and sold shares of CPAY. Albion Financial Group UT acquired a new position in shares of Corpay in the 3rd quarter valued at about $27,000. Avion Wealth boosted its holdings in shares of Corpay by 1,011.1% during the fourth quarter. Avion Wealth now owns 100 shares of the company’s stock worth $33,000 after purchasing an additional 91 shares during the period. Versant Capital Management Inc grew its position in Corpay by 130.4% during the fourth quarter. Versant Capital Management Inc now owns 106 shares of the company’s stock valued at $36,000 after purchasing an additional 60 shares in the last quarter. Huntington National Bank increased its stake in Corpay by 43.0% in the 3rd quarter. Huntington National Bank now owns 133 shares of the company’s stock valued at $42,000 after buying an additional 40 shares during the period. Finally, Quarry LP purchased a new stake in Corpay in the 3rd quarter worth approximately $42,000. 98.84% of the stock is currently 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.