Corpay (NYSE:CPAY) Price Target Raised to $430.00 at Citigroup

Corpay (NYSE:CPAY) had its price target raised by Citigroup from $405.00 to $430.00 in a report issued on Thursday morning,Benzinga reports. They currently have a buy rating on the stock.

CPAY has been the subject of a number of other reports. Wells Fargo & Company upped their target price on Corpay from $285.00 to $320.00 and gave the company an “equal weight” rating in a research note on Monday, October 21st. Keefe, Bruyette & Woods upped their target price on Corpay from $380.00 to $400.00 and gave the company an “outperform” rating in a research note on Friday, November 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 research note on Tuesday, October 15th. JPMorgan Chase & Co. increased their price objective on Corpay from $327.00 to $353.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 20th. Finally, BMO Capital Markets increased their price objective on Corpay from $350.00 to $390.00 and gave the stock an “outperform” rating in a research note on Thursday, October 3rd. Four analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $363.93.

Corpay Stock Performance

Shares of NYSE CPAY opened at $363.36 on Thursday. The business has a fifty day simple moving average of $331.97 and a 200 day simple moving average of $298.77. The company has a current ratio of 1.05, a quick ratio of 1.02 and a debt-to-equity ratio of 1.69. The firm has a market capitalization of $25.33 billion, a price-to-earnings ratio of 25.92, a PEG ratio of 1.42 and a beta of 1.21. Corpay has a one year low of $230.68 and a one year high of $375.98.

Insider Transactions at Corpay

In related news, Director Joseph W. Farrelly sold 2,975 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $375.18, for a total value of $1,116,160.50. Following the transaction, the director now owns 10,530 shares in the company, valued at $3,950,645.40. This trade represents a 22.03 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 6.10% of the company’s stock.

Hedge Funds Weigh In On Corpay

Several hedge funds have recently added to or reduced their stakes in the company. Geode Capital Management LLC boosted its holdings in Corpay by 1.4% in the third quarter. Geode Capital Management LLC now owns 1,677,899 shares of the company’s stock valued at $523,061,000 after acquiring an additional 23,275 shares during the last quarter. Vestcor Inc boosted its holdings in Corpay by 239.5% in the third quarter. Vestcor Inc now owns 7,088 shares of the company’s stock valued at $2,217,000 after acquiring an additional 5,000 shares during the last quarter. Continuum Advisory LLC boosted its holdings in Corpay by 47.9% in the third quarter. Continuum Advisory LLC now owns 142 shares of the company’s stock valued at $44,000 after acquiring an additional 46 shares during the last quarter. Public Employees Retirement System of Ohio boosted its holdings in Corpay by 1.1% during the third quarter. Public Employees Retirement System of Ohio now owns 26,675 shares of the company’s stock worth $8,343,000 after buying an additional 291 shares during the last quarter. Finally, Main Management ETF Advisors LLC bought a new position in Corpay during the third quarter worth about $971,000. Institutional investors 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.