Corpay (NYSE:CPAY) Stock Price Expected to Rise, Citigroup Analyst Says

Corpay (NYSE:CPAY) had its price objective boosted by Citigroup from $405.00 to $430.00 in a report released on Thursday morning,Benzinga reports. They currently have a buy rating on the stock.

A number of other research analysts have also recently commented on CPAY. William Blair raised Corpay to a “strong-buy” rating in a research note on Thursday, August 8th. JPMorgan Chase & Co. upped their price objective on Corpay from $327.00 to $353.00 and gave the company an “overweight” rating in a research report on Tuesday, August 20th. Wells Fargo & Company increased their target price on 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 boosted their target price 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, Keefe, Bruyette & Woods raised their price target on shares of Corpay from $380.00 to $400.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Four research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $363.93.

Corpay Price Performance

CPAY stock opened at $363.36 on Thursday. The stock has a market cap of $25.33 billion, a PE ratio of 25.92, a P/E/G ratio of 1.44 and a beta of 1.21. Corpay has a 12 month low of $230.68 and a 12 month high of $375.98. The company has a 50-day moving average price of $331.97 and a 200 day moving average price of $298.75. The company has a current ratio of 1.05, a quick ratio of 1.02 and a debt-to-equity ratio of 1.69.

Insiders Place Their Bets

In other Corpay news, Director Joseph W. Farrelly sold 2,975 shares of the business’s stock in a transaction dated 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 transaction, the director now directly owns 10,530 shares in the company, valued at approximately $3,950,645.40. The trade was a 22.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 6.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. Albion Financial Group UT purchased a new stake in Corpay during the third quarter valued at approximately $27,000. Headlands Technologies LLC purchased a new stake in shares of Corpay during the 1st quarter valued at $31,000. LGT Financial Advisors LLC purchased a new position in Corpay during the 2nd quarter worth $33,000. Blue Trust Inc. increased its position 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 buying an additional 96 shares in the last quarter. Finally, Innealta Capital LLC purchased a new stake in Corpay in the second quarter valued at about $36,000. Hedge funds and other institutional investors own 98.84% of the company’s stock.

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.