Morgan Stanley Forecasts Strong Price Appreciation for Corpay (NYSE:CPAY) Stock

Corpay (NYSE:CPAY) had its price target raised by research analysts at Morgan Stanley from $350.00 to $380.00 in a research report issued on Thursday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Morgan Stanley’s target price would suggest a potential upside of 1.19% from the stock’s current price.

A number of other research analysts also recently commented on CPAY. Keefe, Bruyette & Woods reduced their price objective on shares of Corpay from $425.00 to $415.00 and set an “outperform” rating on the stock in a research note on Monday, January 6th. Wells Fargo & Company increased their price target on shares of Corpay from $340.00 to $375.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 16th. Bank of America boosted their price objective on Corpay from $344.00 to $375.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. Wolfe Research upgraded Corpay from a “peer perform” rating to an “outperform” rating and set a $420.00 target price for the company in a research report on Wednesday, January 8th. Finally, Citigroup started coverage on Corpay in a report on Tuesday, January 14th. They issued a “buy” rating and a $430.00 price target for the company. Three investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $399.71.

Corpay Stock Down 3.6 %

Shares of NYSE CPAY opened at $375.53 on Thursday. The firm has a market cap of $26.18 billion, a price-to-earnings ratio of 26.79, a PEG ratio of 1.30 and a beta of 1.28. Corpay has a 1 year low of $247.10 and a 1 year 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. The stock’s 50-day simple moving average is $361.72 and its 200-day simple moving average is $335.59.

Corpay (NYSE:CPAY) last posted its quarterly earnings data 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, equities analysts anticipate that Corpay will post 17.84 earnings per share for the current fiscal year.

Insider Activity at Corpay

In other Corpay news, Director Joseph W. Farrelly sold 2,975 shares of Corpay stock in a transaction 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 sale, the director now owns 10,530 shares of the company’s stock, valued at $3,950,645.40. The trade was a 22.03 % decrease in their position. 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 business’s stock in a transaction on 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 owns 1,797 shares of the company’s stock, valued at $664,961.88. This trade represents a 81.66 % decrease in their position. The disclosure for this sale can be found here. 6.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Corpay

Several large investors have recently bought and sold shares of CPAY. Albion Financial Group UT bought a new position in shares of Corpay in the third quarter valued at approximately $27,000. Avion Wealth increased its position in shares of Corpay by 1,011.1% during the 4th quarter. Avion Wealth now owns 100 shares of the company’s stock valued at $33,000 after purchasing an additional 91 shares during the period. Versant Capital Management Inc raised its stake in shares of Corpay by 130.4% in the 4th quarter. Versant Capital Management Inc now owns 106 shares of the company’s stock worth $36,000 after buying an additional 60 shares in the last quarter. Huntington National Bank lifted its holdings in shares of Corpay by 43.0% in the third quarter. Huntington National Bank now owns 133 shares of the company’s stock valued at $42,000 after buying an additional 40 shares during the period. Finally, Quarry LP bought a new position in Corpay during the third quarter valued at about $42,000. 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.