Corpay, Inc. (NYSE:CPAY) Receives Average Recommendation of “Moderate Buy” from Analysts

Corpay, Inc. (NYSE:CPAY) has been given a consensus rating of “Moderate Buy” by the fifteen research firms that are covering the firm, Marketbeat reports. Three equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $381.43.

A number of brokerages have issued reports on CPAY. Bank of America boosted their target price on Corpay from $344.00 to $375.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. BMO Capital Markets increased 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. Citigroup began coverage on shares of Corpay in a research note on Tuesday, January 14th. They set a “buy” rating and a $430.00 price target on the stock. Morgan Stanley raised their price objective on shares of Corpay from $325.00 to $350.00 and gave the company an “equal weight” rating in a research note on Monday, November 11th. Finally, Wolfe Research raised shares of Corpay from a “peer perform” rating to an “outperform” rating and set a $420.00 target price on the stock in a research note on Wednesday, January 8th.

Insiders Place Their Bets

In related news, Director Joseph W. Farrelly sold 2,975 shares of the business’s stock in a transaction on 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 sale, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Alissa B. Vickery sold 8,000 shares of the firm’s stock in a transaction dated 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 directly owns 1,797 shares in the company, valued at approximately $664,961.88. The trade was a 81.66 % decrease in their position. The disclosure for this sale can be found here. 6.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Oppenheimer Asset Management Inc. boosted its holdings in shares of Corpay by 66.7% in the third quarter. Oppenheimer Asset Management Inc. now owns 5,888 shares of the company’s stock valued at $1,842,000 after acquiring an additional 2,355 shares during the period. Swedbank AB boosted 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 purchasing an additional 58,900 shares during the period. Retireful LLC purchased a new position in Corpay during the 3rd quarter worth $702,000. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in Corpay in the third quarter valued at $527,000. Finally, Banco Santander S.A. purchased a new stake in shares of Corpay in the third quarter valued at about $668,000. Hedge funds and other institutional investors own 98.84% of the company’s stock.

Corpay Trading Up 0.2 %

Shares of CPAY stock opened at $370.91 on Tuesday. Corpay has a 1-year low of $247.10 and a 1-year high of $385.30. The firm has a market cap of $25.86 billion, a PE ratio of 26.46, a price-to-earnings-growth ratio of 1.17 and a beta of 1.26. The company has a 50-day moving average of $359.95 and a two-hundred day moving average of $326.68. The company has a debt-to-equity ratio of 1.69, a current ratio of 1.05 and a quick ratio of 1.05.

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.