Keefe, Bruyette & Woods Issues Positive Forecast for Corpay (NYSE:CPAY) Stock Price

Corpay (NYSE:CPAY) had its target price raised by research analysts at Keefe, Bruyette & Woods from $415.00 to $445.00 in a report released on Thursday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Keefe, Bruyette & Woods’ price objective would indicate a potential upside of 13.84% from the stock’s previous close.

Several other analysts have also commented on the stock. Wells Fargo & Company lifted their price target on shares of Corpay from $340.00 to $375.00 and gave the company an “equal weight” rating in a research report on Thursday, January 16th. Wolfe Research raised Corpay from a “peer perform” rating to an “outperform” rating and set a $420.00 price objective for the company in a research report on Wednesday, January 8th. Barclays raised their target price on Corpay from $385.00 to $415.00 and gave the stock an “overweight” rating in a research report on Monday, October 28th. BMO Capital Markets boosted their price objective on shares of Corpay from $400.00 to $440.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Finally, Citigroup started coverage on Corpay in a report on Tuesday, January 14th. They issued a “buy” rating and a $430.00 target price for the company. 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. According to data from MarketBeat, Corpay currently has an average rating of “Moderate Buy” and a consensus price target of $385.71.

Corpay Stock Up 0.6 %

Shares of CPAY traded up $2.24 during mid-day trading on Thursday, hitting $390.91. 394,513 shares of the company traded hands, compared to its average volume of 423,957. Corpay has a 1-year low of $247.10 and a 1-year high of $400.81. The company has a market capitalization of $27.25 billion, a PE ratio of 27.79, a price-to-earnings-growth ratio of 1.30 and a beta of 1.28. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 1.69. The business has a 50 day moving average of $361.54 and a 200 day moving average of $335.21.

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

Insiders Place Their Bets

In related 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 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 $3,950,645.40. This represents a 22.03 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Alissa B. Vickery sold 8,000 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the chief accounting officer now directly owns 1,797 shares in the company, valued at approximately $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 currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of CPAY. JPMorgan Chase & Co. increased its holdings in shares of Corpay by 2.3% during the third quarter. JPMorgan Chase & Co. now owns 5,287,311 shares of the company’s stock valued at $1,653,659,000 after purchasing an additional 120,578 shares during the period. FMR LLC boosted its stake in Corpay by 3.0% during the third quarter. FMR LLC now owns 2,692,847 shares of the company’s stock valued at $842,215,000 after buying an additional 78,880 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Corpay by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 1,677,899 shares of the company’s stock valued at $523,061,000 after purchasing an additional 23,275 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Corpay by 0.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 458,477 shares of the company’s stock worth $143,393,000 after purchasing an additional 1,749 shares in the last quarter. Finally, Eagle Asset Management Inc. lifted its position in shares of Corpay by 2.4% during the 3rd quarter. Eagle Asset Management Inc. now owns 357,397 shares of the company’s stock valued at $111,779,000 after acquiring an additional 8,378 shares during 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.