Corpay (NYSE:CPAY) Stock Price Expected to Rise, Keefe, Bruyette & Woods Analyst Says

Corpay (NYSE:CPAY) had its price objective upped by investment analysts at Keefe, Bruyette & Woods from $400.00 to $425.00 in a report released on Monday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Keefe, Bruyette & Woods’ price target indicates a potential upside of 19.05% from the stock’s previous close.

Several other brokerages also recently commented on CPAY. Bank of America lifted their target price on Corpay from $344.00 to $375.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. Jefferies Financial Group upped their price objective on shares of Corpay from $375.00 to $425.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Wells Fargo & Company raised their target price on shares of 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 upped their price target on shares of Corpay from $350.00 to $390.00 and gave the company an “outperform” rating in a research note on Thursday, October 3rd. Finally, JPMorgan Chase & Co. raised their price objective on shares of Corpay from $327.00 to $353.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 20th. Four research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Corpay has an average rating of “Moderate Buy” and a consensus price target of $365.71.

Corpay Stock Down 1.3 %

Shares of NYSE:CPAY opened at $357.01 on Monday. The company has a 50 day moving average of $353.00 and a 200-day moving average of $308.64. Corpay has a one year low of $247.10 and a one year high of $385.30. The stock has a market cap of $24.89 billion, a price-to-earnings ratio of 25.76, a P/E/G ratio of 1.43 and a beta of 1.24. The company has a debt-to-equity ratio of 1.69, a current ratio of 1.05 and a quick ratio of 1.05.

Insider Activity at Corpay

In other Corpay news, Director Joseph W. Farrelly sold 2,975 shares of the stock in a transaction that occurred on 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 approximately $3,950,645.40. This represents a 22.03 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Alissa B. Vickery sold 8,000 shares of the company’s stock in a transaction that occurred 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 directly owns 1,797 shares in the company, valued at $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. 6.10% of the stock is owned by corporate insiders.

Institutional Trading of Corpay

Several institutional investors and hedge funds have recently made changes to their positions in CPAY. Albion Financial Group UT purchased a new stake in shares of Corpay during the third quarter valued at approximately $27,000. LGT Financial Advisors LLC bought a new stake in shares of Corpay during the 2nd quarter worth $33,000. Blue Trust Inc. raised its stake in shares of Corpay by 246.2% during the 2nd quarter. Blue Trust Inc. now owns 135 shares of the company’s stock worth $36,000 after purchasing an additional 96 shares during the period. Innealta Capital LLC purchased a new position in shares of Corpay in the 2nd quarter worth about $36,000. Finally, Whittier Trust Co. of Nevada Inc. bought a new position in Corpay during the second quarter valued at about $40,000. Hedge funds and other institutional investors own 98.84% of the company’s stock.

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.