Corpay (NYSE:CPAY) Upgraded by Wolfe Research to “Outperform” Rating

Corpay (NYSE:CPAY) was upgraded by stock analysts at Wolfe Research from a “peer perform” rating to an “outperform” rating in a research note issued on Wednesday,Briefing.com Automated Import reports. The firm currently has a $420.00 price objective on the stock. Wolfe Research’s price objective indicates a potential upside of 20.85% from the company’s current price.

Several other research firms also recently issued reports on CPAY. Bank of America increased their price objective on shares of Corpay from $344.00 to $375.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. BMO Capital Markets boosted their price target on shares of Corpay from $400.00 to $440.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Wells Fargo & Company lifted their target price on shares of Corpay from $285.00 to $320.00 and gave the stock an “equal weight” rating in a research note on Monday, October 21st. Jefferies Financial Group increased their price target on shares of Corpay from $375.00 to $425.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Finally, Citigroup upped their price objective on Corpay from $405.00 to $430.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Three equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $377.50.

Corpay Stock Up 1.5 %

Shares of CPAY stock opened at $347.54 on Wednesday. The company has a debt-to-equity ratio of 1.69, a quick ratio of 1.05 and a current ratio of 1.05. Corpay has a fifty-two week low of $247.10 and a fifty-two week high of $385.30. The stock’s 50-day simple moving average is $356.63 and its 200-day simple moving average is $321.53. The firm has a market capitalization of $24.23 billion, a PE ratio of 24.79, a P/E/G ratio of 1.40 and a beta of 1.24.

Insider Activity at Corpay

In related news, CAO Alissa B. Vickery sold 8,000 shares of the stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $370.04, for a total transaction of $2,960,320.00. Following the sale, the chief accounting officer now owns 1,797 shares of the company’s stock, valued at approximately $664,961.88. This represents a 81.66 % decrease in their position. The sale 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 company’s stock in a transaction that occurred on 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 disclosure for this sale can be found here. 6.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in CPAY. Diversified Trust Co grew its position in shares of Corpay by 1.5% in the 4th quarter. Diversified Trust Co now owns 25,314 shares of the company’s stock worth $8,567,000 after buying an additional 375 shares during the period. Pensionfund Sabic boosted its stake in Corpay by 21.1% during the fourth quarter. Pensionfund Sabic now owns 4,600 shares of the company’s stock worth $1,557,000 after acquiring an additional 800 shares in the last quarter. Everence Capital Management Inc. purchased a new stake in Corpay in the fourth quarter worth about $342,000. GAMMA Investing LLC increased its stake in shares of Corpay by 23.9% during the fourth quarter. GAMMA Investing LLC now owns 1,460 shares of the company’s stock valued at $494,000 after purchasing an additional 282 shares in the last quarter. Finally, Versant Capital Management Inc lifted its holdings in shares of 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 during the last quarter. 98.84% of the stock is currently owned by institutional investors.

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.