Wells Fargo & Company Boosts Corpay (NYSE:CPAY) Price Target to $375.00

Corpay (NYSE:CPAY) had its price target raised by Wells Fargo & Company from $340.00 to $375.00 in a report issued on Thursday,Benzinga reports. They currently have an equal weight rating on the stock.

CPAY has been the subject of several other reports. Morgan Stanley upped their target price on Corpay from $325.00 to $350.00 and gave the stock an “equal weight” rating in a research note on Monday, November 11th. BMO Capital Markets upped their target price on Corpay from $400.00 to $440.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. Jefferies Financial Group upped their target price on Corpay from $375.00 to $425.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Bank of America upped their target price on Corpay from $344.00 to $375.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. Finally, Keefe, Bruyette & Woods reduced their target price on Corpay from $425.00 to $415.00 and set an “outperform” rating for the company in a research note on Monday, January 6th. Three 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’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $381.43.

Corpay Trading Up 0.2 %

Shares of NYSE:CPAY opened at $370.91 on Thursday. Corpay has a 12-month low of $247.10 and a 12-month high of $385.30. The company has a market capitalization of $25.86 billion, a PE ratio of 26.46, a PEG ratio of 1.17 and a beta of 1.26. The business has a 50 day moving average of $359.95 and a two-hundred day moving average of $325.86. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 1.69.

Insider Buying and Selling at Corpay

In other news, Director Joseph W. Farrelly sold 2,975 shares of the stock in a transaction 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 directly owns 10,530 shares in the company, valued at approximately $3,950,645.40. This represents a 22.03 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Alissa B. Vickery sold 8,000 shares of the stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $370.04, for a total value of $2,960,320.00. Following the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. 6.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Corpay

Hedge funds have recently modified their holdings of the business. Oppenheimer Asset Management Inc. grew its holdings in shares of Corpay by 66.7% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 5,888 shares of the company’s stock worth $1,842,000 after purchasing an additional 2,355 shares during the period. Swedbank AB lifted its stake in Corpay by 46.3% during the 3rd quarter. Swedbank AB now owns 186,117 shares of the company’s stock worth $58,210,000 after acquiring an additional 58,900 shares in the last quarter. Retireful LLC acquired a new position in Corpay during the 3rd quarter worth about $702,000. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in Corpay during the 3rd quarter worth about $527,000. Finally, Banco Santander S.A. acquired a new position in Corpay during the 3rd quarter worth about $668,000. 98.84% of the stock is currently owned by hedge funds and other 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.