Analysts Set Corpay, Inc. (NYSE:CPAY) Target Price at $377.50

Shares of Corpay, Inc. (NYSE:CPAY) have received an average rating of “Moderate Buy” from the fifteen research firms that are currently covering the firm, MarketBeat.com reports. Three investment analysts have rated the stock with a hold recommendation, eleven have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $381.43.

Several equities analysts have recently weighed in on CPAY shares. BMO Capital Markets increased their price target on Corpay from $400.00 to $440.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Barclays increased their target price on Corpay from $385.00 to $415.00 and gave the company an “overweight” rating in a report on Monday, October 28th. Wolfe Research raised Corpay from a “peer perform” rating to an “outperform” rating and set a $420.00 target price on the stock in a research report on Wednesday, January 8th. Citigroup assumed coverage on shares of Corpay in a research report on Tuesday. They set a “buy” rating and a $430.00 price target for the company. Finally, Wells Fargo & Company raised their price objective on shares of Corpay from $340.00 to $375.00 and gave the stock an “equal weight” rating in a report on Thursday.

Corpay Stock Up 2.2 %

Shares of Corpay stock opened at $370.07 on Tuesday. Corpay has a twelve month low of $247.10 and a twelve month high of $385.30. 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 company’s 50 day moving average is $359.38 and its 200 day moving average is $324.82. The company has a market cap of $25.80 billion, a price-to-earnings ratio of 26.40, a price-to-earnings-growth ratio of 1.17 and a beta of 1.26.

Insiders Place Their Bets

In other news, CAO Alissa B. Vickery sold 8,000 shares of the business’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 $664,961.88. The trade was a 81.66 % 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, Director Joseph W. Farrelly sold 2,975 shares of the stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $375.18, for a total value of $1,116,160.50. Following 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 disclosure for this sale can be found here. Company insiders own 6.10% of the company’s stock.

Institutional Investors Weigh In On Corpay

Several institutional investors and hedge funds have recently modified their holdings of the stock. Oppenheimer Asset Management Inc. grew its stake in Corpay by 66.7% during 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 in the last quarter. Swedbank AB boosted its holdings in shares of Corpay by 46.3% during the 3rd quarter. Swedbank AB now owns 186,117 shares of the company’s stock valued at $58,210,000 after purchasing an additional 58,900 shares during the last quarter. Retireful LLC purchased a new position in shares of Corpay during the third quarter valued at about $702,000. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in shares of Corpay in the third quarter worth about $527,000. Finally, Banco Santander S.A. purchased a new stake in shares of Corpay in the third quarter worth about $668,000. 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.