Keefe, Bruyette & Woods Forecasts Strong Price Appreciation for Corpay (NYSE:CPAY) Stock

Corpay (NYSE:CPAY) had its price target raised by analysts at Keefe, Bruyette & Woods from $415.00 to $445.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Keefe, Bruyette & Woods’ target price points to a potential upside of 18.50% from the company’s previous close.

A number of other analysts have also recently commented on the company. Barclays upped their price target on Corpay from $385.00 to $415.00 and gave the company an “overweight” rating in a research note on Monday, October 28th. Morgan Stanley upped their target price on shares of Corpay from $350.00 to $380.00 and gave the company an “equal weight” rating in a research note on Thursday. Citigroup started coverage on shares of Corpay in a research report on Tuesday, January 14th. They set a “buy” rating and a $430.00 price target on the stock. BMO Capital Markets upped their price objective on shares of Corpay from $400.00 to $440.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Finally, Bank of America raised their price objective on Corpay from $344.00 to $375.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. Three analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $399.71.

Corpay Price Performance

CPAY opened at $375.53 on Thursday. The company has a fifty day moving average price of $361.72 and a two-hundred day moving average price of $335.59. The firm has a market capitalization of $26.18 billion, a PE ratio of 26.79, a P/E/G ratio of 1.30 and a beta of 1.28. Corpay has a 52 week low of $247.10 and a 52 week high of $400.81. The company has a debt-to-equity ratio of 1.69, a quick ratio of 1.05 and a current ratio of 1.05.

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

Insider Buying and Selling

In related news, 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 value of $1,116,160.50. Following the completion of the transaction, the director now owns 10,530 shares of the company’s stock, valued at approximately $3,950,645.40. This trade represents a 22.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 transaction of $2,960,320.00. Following the sale, the chief accounting officer now directly owns 1,797 shares in the company, valued at $664,961.88. This trade 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 corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of CPAY. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Corpay by 16.8% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,027 shares of the company’s stock valued at $274,000 after buying an additional 148 shares during the last quarter. Sanctuary Advisors LLC bought a new stake in Corpay during the second quarter worth $515,000. Park Avenue Securities LLC acquired a new stake in Corpay in the third quarter valued at $454,000. Czech National Bank grew its position in shares of Corpay by 5.6% in the 3rd quarter. Czech National Bank now owns 14,144 shares of the company’s stock valued at $4,424,000 after acquiring an additional 753 shares during the period. Finally, GAMMA Investing LLC increased its stake in shares of Corpay by 52.0% during the 3rd quarter. GAMMA Investing LLC now owns 1,178 shares of the company’s stock worth $368,000 after purchasing an additional 403 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.