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

Shares of Corpay, Inc. (NYSE:CPAY) have received an average rating of “Moderate Buy” from the fifteen research firms that are covering the stock, Marketbeat Ratings reports. Four analysts have rated the stock with a hold recommendation, ten have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $363.93.

CPAY has been the subject of a number of recent analyst reports. Wolfe Research upgraded shares of Corpay from an “underperform” rating to a “peer perform” rating in a research report on Tuesday, September 3rd. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $310.00 target price on shares of Corpay in a report on Thursday, August 8th. Citigroup raised their price target on Corpay from $405.00 to $430.00 and gave the company a “buy” rating in a report on Thursday, November 14th. William Blair upgraded Corpay to a “strong-buy” rating in a research report on Thursday, August 8th. Finally, BMO Capital Markets boosted their price target on Corpay from $350.00 to $390.00 and gave the stock an “outperform” rating in a report on Thursday, October 3rd.

Corpay Stock Up 1.2 %

CPAY stock opened at $379.87 on Monday. The business’s 50-day moving average price is $338.38 and its 200-day moving average price is $301.21. The stock has a market cap of $26.48 billion, a P/E ratio of 27.09, a PEG ratio of 1.47 and a beta of 1.21. Corpay has a twelve month low of $230.68 and a twelve month high of $380.00. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 1.69.

Insider Transactions 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 shares were sold at an average price of $375.18, for a total transaction of $1,116,160.50. Following the completion of 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Alissa B. Vickery sold 8,000 shares of the business’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $370.04, for a total transaction of $2,960,320.00. Following the transaction, the chief accounting officer now owns 1,797 shares in the company, valued at $664,961.88. This trade represents a 81.66 % decrease in their position. The disclosure for this sale can be found here. Insiders own 6.10% of the company’s stock.

Hedge Funds Weigh In On Corpay

Large investors have recently made changes to their positions in the company. Boston Partners bought a new position in Corpay in the 1st quarter valued at $553,667,000. American Century Companies Inc. increased its stake in Corpay by 1,734.1% in the 2nd quarter. American Century Companies Inc. now owns 400,662 shares of the company’s stock worth $106,740,000 after buying an additional 378,817 shares during the period. TD Asset Management Inc bought a new stake in Corpay during the 2nd quarter valued at about $41,475,000. Assenagon Asset Management S.A. purchased a new stake in Corpay in the 2nd quarter valued at about $35,655,000. Finally, International Assets Investment Management LLC bought a new position in Corpay in the 3rd quarter worth about $40,497,000. 98.84% of the stock is owned by hedge funds and other institutional investors.

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.