Corpay, Inc. (NYSE:CPAY) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Corpay, Inc. (NYSE:CPAY) has been given an average recommendation of “Moderate Buy” by the fifteen research firms that are presently covering the stock, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $381.43.

CPAY has been the subject of a number of research reports. Wolfe Research upgraded Corpay from a “peer perform” rating to an “outperform” rating and set a $420.00 price objective for the company in a report on Wednesday, January 8th. Bank of America increased their price objective on Corpay from $344.00 to $375.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. Barclays increased their price objective on Corpay from $385.00 to $415.00 and gave the stock an “overweight” rating in a report on Monday, October 28th. Morgan Stanley increased their price objective on Corpay from $325.00 to $350.00 and gave the stock an “equal weight” rating in a report on Monday, November 11th. Finally, Jefferies Financial Group increased their price objective on Corpay from $375.00 to $425.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th.

Corpay Stock Performance

Shares of CPAY stock opened at $370.91 on Tuesday. The stock has a fifty day moving average of $359.95 and a 200 day moving average of $325.86. 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 firm has a market capitalization of $25.86 billion, a price-to-earnings ratio of 26.46, a PEG ratio of 1.17 and a beta of 1.26. Corpay has a 52 week low of $247.10 and a 52 week high of $385.30.

Insiders Place Their Bets

In other news, Director Joseph W. Farrelly sold 2,975 shares of Corpay stock in a transaction dated 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 $3,950,645.40. The trade was a 22.03 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Alissa B. Vickery sold 8,000 shares of Corpay stock in a transaction dated 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 transaction, the chief accounting officer now directly owns 1,797 shares in the company, valued at approximately $664,961.88. The trade was a 81.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 6.10% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Albion Financial Group UT bought a new stake in Corpay during the 3rd quarter valued at approximately $27,000. Versant Capital Management Inc raised its stake in Corpay by 130.4% during 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 period. Huntington National Bank raised its stake in Corpay by 43.0% during 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 during the period. Quarry LP bought a new stake in Corpay during the 3rd quarter valued at approximately $42,000. Finally, Continuum Advisory LLC raised its stake in Corpay by 47.9% during the 3rd quarter. Continuum Advisory LLC now owns 142 shares of the company’s stock valued at $44,000 after purchasing an additional 46 shares during the period. 98.84% of the stock is 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.