Brokerages Set Corpay, Inc. (NYSE:CPAY) PT at $369.29

Shares of Corpay, Inc. (NYSE:CPAY) have received an average rating of “Moderate Buy” from the fifteen brokerages that are currently covering the firm, Marketbeat reports. Four research analysts have rated the stock with a hold recommendation, ten have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $369.29.

Several brokerages have recently weighed in on CPAY. Citigroup increased their target price on shares of Corpay from $405.00 to $430.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Wells Fargo & Company increased their price objective on Corpay from $285.00 to $320.00 and gave the stock an “equal weight” rating in a research report on Monday, October 21st. Barclays boosted their target price on Corpay from $385.00 to $415.00 and gave the company an “overweight” rating in a report on Monday, October 28th. Wolfe Research raised Corpay from an “underperform” rating to a “peer perform” rating in a report on Tuesday, September 3rd. Finally, BMO Capital Markets boosted their price objective on shares of Corpay from $400.00 to $440.00 and gave the company an “outperform” rating in a research note on Friday, December 13th.

Insider Transactions at Corpay

In other Corpay news, CAO Alissa B. Vickery sold 8,000 shares of the firm’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $370.04, for a total transaction of $2,960,320.00. Following the completion of the transaction, the chief accounting officer now owns 1,797 shares of the company’s stock, valued at approximately $664,961.88. This trade represents a 81.66 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, 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 sale, the director now owns 10,530 shares of the company’s stock, valued at approximately $3,950,645.40. This trade represents a 22.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 6.10% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of CPAY. American Century Companies Inc. raised its position in shares of 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 acquired a new stake in Corpay during the second quarter worth about $41,475,000. International Assets Investment Management LLC purchased a new position in shares of Corpay in the 3rd quarter worth about $40,497,000. Prana Capital Management LP acquired a new position in shares of Corpay in the 3rd quarter valued at about $31,541,000. Finally, FMR LLC grew its holdings in shares of Corpay by 3.0% during the 3rd quarter. FMR LLC now owns 2,692,847 shares of the company’s stock worth $842,215,000 after purchasing an additional 78,880 shares during the period. Institutional investors and hedge funds own 98.84% of the company’s stock.

Corpay Price Performance

CPAY stock opened at $346.25 on Friday. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 1.69. The company has a market capitalization of $24.14 billion, a P/E ratio of 24.70, a PEG ratio of 1.43 and a beta of 1.23. The business has a 50 day simple moving average of $357.31 and a 200-day simple moving average of $314.85. Corpay has a twelve month low of $247.10 and a twelve month high of $385.30.

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.