Corpay (NYSE:CPAY) Research Coverage Started at Citigroup

Citigroup started coverage on shares of Corpay (NYSE:CPAY) in a report released on Tuesday. The brokerage issued a buy rating and a $430.00 price target on the stock.

A number of other research firms have also recently weighed in on CPAY. BMO Capital Markets increased their price objective on Corpay from $400.00 to $440.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Wells Fargo & Company lifted their price objective on shares of Corpay from $285.00 to $320.00 and gave the company an “equal weight” rating in a research report on Monday, October 21st. Morgan Stanley upped their price objective on shares of Corpay from $325.00 to $350.00 and gave the stock an “equal weight” rating in a research report on Monday, November 11th. Barclays boosted their price target on shares of Corpay from $385.00 to $415.00 and gave the stock an “overweight” rating in a research note on Monday, October 28th. Finally, Jefferies Financial Group raised their price objective on shares of Corpay from $375.00 to $425.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Three analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Corpay presently has an average rating of “Moderate Buy” and a consensus target price of $381.43.

Corpay Price Performance

Shares of CPAY opened at $370.07 on Tuesday. 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 has a fifty-two week low of $247.10 and a fifty-two week high of $385.30. The firm has a 50-day simple moving average of $359.38 and a 200-day simple moving average of $324.82. The company has a market capitalization 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.

Insider Activity at Corpay

In other news, CAO Alissa B. Vickery sold 8,000 shares of the stock in a transaction that occurred 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 sale, the chief accounting officer now directly owns 1,797 shares in the company, valued at $664,961.88. This represents a 81.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Joseph W. Farrelly sold 2,975 shares of the firm’s stock in a transaction that occurred on Wednesday, November 13th. The stock was 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 approximately $3,950,645.40. This trade represents 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 currently owned by company insiders.

Institutional Investors Weigh In On Corpay

A number of large investors have recently bought and sold shares of the stock. Albion Financial Group UT purchased a new stake in shares of Corpay in the third quarter valued at $27,000. Versant Capital Management Inc raised its stake in Corpay by 130.4% in the 4th quarter. Versant Capital Management Inc now owns 106 shares of the company’s stock valued at $36,000 after purchasing an additional 60 shares during the last quarter. Huntington National Bank lifted its holdings in Corpay by 43.0% in the 3rd quarter. Huntington National Bank now owns 133 shares of the company’s stock valued at $42,000 after purchasing an additional 40 shares in the last quarter. Quarry LP acquired a new stake in shares of Corpay during the 3rd quarter worth about $42,000. Finally, Continuum Advisory LLC grew its holdings in shares of Corpay by 47.9% during the third quarter. Continuum Advisory LLC now owns 142 shares of the company’s stock worth $44,000 after buying an additional 46 shares in the last quarter. Institutional investors and hedge funds own 98.84% of the company’s stock.

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.