Corpay (NYSE:CPAY) Price Target Raised to $350.00

Corpay (NYSE:CPAY) had its price objective upped by Morgan Stanley from $325.00 to $350.00 in a research report released on Monday morning,Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

A number of other brokerages also recently issued reports on CPAY. William Blair upgraded Corpay to a “strong-buy” rating in a report on Thursday, August 8th. Wells Fargo & Company boosted their target price on Corpay from $285.00 to $320.00 and gave the stock an “equal weight” rating in a research note on Monday, October 21st. BMO Capital Markets boosted their target price on Corpay from $350.00 to $390.00 and gave the stock an “outperform” rating in a research note on Thursday, October 3rd. Raymond James lowered their price target on Corpay from $330.00 to $311.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Finally, Bank of America lifted their price target on Corpay from $344.00 to $375.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. Four analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Corpay has a consensus rating of “Moderate Buy” and a consensus price target of $358.57.

Corpay Price Performance

Shares of CPAY stock opened at $370.77 on Monday. Corpay has a 52-week low of $230.68 and a 52-week high of $375.98. The company has a debt-to-equity ratio of 1.69, a quick ratio of 1.02 and a current ratio of 1.05. The firm has a market capitalization of $25.85 billion, a P/E ratio of 26.61, a P/E/G ratio of 1.46 and a beta of 1.21. The stock has a 50 day moving average price of $328.28 and a 200 day moving average price of $297.35.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in CPAY. Albion Financial Group UT purchased a new position in Corpay in the third quarter worth approximately $27,000. Headlands Technologies LLC acquired a new position in Corpay during the first quarter worth $31,000. LGT Financial Advisors LLC acquired a new position in Corpay during the second quarter worth $33,000. RFP Financial Group LLC acquired a new position in Corpay during the first quarter worth $35,000. Finally, Blue Trust Inc. lifted its stake in Corpay by 246.2% during the second quarter. Blue Trust Inc. now owns 135 shares of the company’s stock worth $36,000 after purchasing an additional 96 shares in the last quarter. 98.84% of the stock is currently owned by hedge funds and other institutional investors.

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.