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

Corpay (NYSE:CPAY) had its target price cut by equities researchers at Keefe, Bruyette & Woods from $425.00 to $415.00 in a research report issued on Monday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Keefe, Bruyette & Woods’ price target points to a potential upside of 19.41% from the stock’s current price.

A number of other research firms have also recently commented on CPAY. BMO Capital Markets increased their price target on shares of Corpay from $400.00 to $440.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Citigroup boosted their price target on Corpay from $405.00 to $430.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Wells Fargo & Company increased their price objective on Corpay from $285.00 to $320.00 and gave the company an “equal weight” rating in a research report on Monday, October 21st. Jefferies Financial Group upped 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, Bank of America boosted 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. Four analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Corpay presently has a consensus rating of “Moderate Buy” and a consensus price target of $368.57.

Corpay Stock Performance

Shares of Corpay stock opened at $347.54 on Monday. Corpay has a 1 year low of $247.10 and a 1 year high of $385.30. The firm’s 50-day moving average is $356.63 and its 200 day moving average is $321.53. The stock has a market cap of $24.23 billion, a price-to-earnings ratio of 24.79, a PEG ratio of 1.40 and a beta of 1.24. The company has a debt-to-equity ratio of 1.69, a current ratio of 1.05 and a quick ratio of 1.05.

Insider Buying and Selling

In other news, CAO Alissa B. Vickery sold 8,000 shares of the business’s stock in a transaction on Wednesday, November 20th. The shares were 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. The trade was a 81.66 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Joseph W. Farrelly sold 2,975 shares of the firm’s stock in a transaction on 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 transaction, the director now directly owns 10,530 shares of the company’s stock, valued at $3,950,645.40. The trade was 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 insiders.

Institutional Trading of Corpay

A number of large investors have recently added to or reduced their stakes in CPAY. Whittier Trust Co. of Nevada Inc. grew its holdings in shares of Corpay by 22.7% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 184 shares of the company’s stock valued at $58,000 after purchasing an additional 34 shares in the last quarter. Mather Group LLC. grew its stake in shares of Corpay by 21.2% in the 3rd quarter. Mather Group LLC. now owns 200 shares of the company’s stock worth $63,000 after buying an additional 35 shares in the last quarter. Huntington National Bank increased its holdings in shares of Corpay by 43.0% in the 3rd quarter. Huntington National Bank now owns 133 shares of the company’s stock worth $42,000 after buying an additional 40 shares during the last quarter. Empirical Finance LLC raised its position in shares of Corpay by 1.8% during the 3rd quarter. Empirical Finance LLC now owns 2,493 shares of the company’s stock valued at $780,000 after buying an additional 43 shares in the last quarter. Finally, Signaturefd LLC grew its position in Corpay by 22.3% in the third quarter. Signaturefd LLC now owns 252 shares of the company’s stock worth $79,000 after acquiring an additional 46 shares in the last quarter. Institutional investors own 98.84% of the company’s stock.

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.