Analysts Set Corpay, Inc. (NYSE:CPAY) Price Target at $377.50

Shares of Corpay, Inc. (NYSE:CPAY - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the fifteen ratings firms that are currently covering the firm, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $377.50.

CPAY has been the subject of a number of recent analyst reports. Jefferies Financial Group upped their price target on shares of Corpay from $375.00 to $425.00 and gave the stock a "buy" rating in a report on Wednesday, October 16th. Bank of America lifted 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. 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 report on Monday, October 21st. Morgan Stanley increased their price target on Corpay from $325.00 to $350.00 and gave the stock an "equal weight" rating in a report on Monday, November 11th. Finally, Citigroup started coverage on shares of Corpay in a research report on Tuesday. They issued a "buy" rating and a $430.00 price target on the stock.

Insider Buying and Selling 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 value of $1,116,160.50. Following the sale, the director now directly owns 10,530 shares in the company, valued at approximately $3,950,645.40. The trade was a 22.03 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Alissa B. Vickery sold 8,000 shares of the firm's 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 owns 1,797 shares of the company's stock, valued at approximately $664,961.88. The trade was a 81.66 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 6.10% of the company's stock.

Institutional Trading of Corpay

A number of large investors have recently made changes to their positions in the business. Oppenheimer Asset Management Inc. increased its position in shares of Corpay by 66.7% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 5,888 shares of the company's stock valued at $1,842,000 after purchasing an additional 2,355 shares during the last quarter. Swedbank AB boosted its stake in shares of Corpay by 46.3% during the 3rd quarter. Swedbank AB now owns 186,117 shares of the company's stock worth $58,210,000 after purchasing an additional 58,900 shares during the period. Retireful LLC bought a new position in Corpay during the 3rd quarter valued at about $702,000. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of Corpay in the third quarter worth approximately $527,000. Finally, Banco Santander S.A. purchased a new position in Corpay during the 3rd quarter valued at $668,000. 98.84% of the stock is currently owned by institutional investors.

Corpay Stock Performance

Shares of CPAY traded up $6.51 during midday trading on Tuesday, reaching $358.74. The stock had a trading volume of 137,104 shares, compared to its average volume of 452,985. The firm has a market cap of $25.01 billion, a PE ratio of 25.59, a P/E/G ratio of 1.40 and a beta of 1.26. 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 firm has a 50 day simple moving average of $358.56 and a 200-day simple moving average of $323.91. Corpay has a one year low of $247.10 and a one year 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.