Corpay (NYSE:CPAY) Now Covered by Analysts at Citigroup

Citigroup initiated coverage on shares of Corpay (NYSE:CPAY - Free Report) in a report published on Tuesday morning. The brokerage issued a buy rating and a $430.00 price objective on the stock.

Several other equities analysts also recently weighed in on the company. Keefe, Bruyette & Woods dropped their price objective on Corpay from $425.00 to $415.00 and set an "outperform" rating for the company in a research note on Monday, January 6th. Barclays boosted their price objective on shares of Corpay from $385.00 to $415.00 and gave the stock an "overweight" rating in a research report on Monday, October 28th. Wolfe Research upgraded shares of Corpay from a "peer perform" rating to an "outperform" rating and set a $420.00 target price for the company in a report on Wednesday, January 8th. Jefferies Financial Group upped their price target on shares of Corpay from $375.00 to $425.00 and gave the company a "buy" rating in a report on Wednesday, October 16th. Finally, Wells Fargo & Company raised their price objective 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. Three analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $377.50.

Corpay Price Performance

CPAY stock traded up $5.94 during trading on Tuesday, reaching $358.17. 431,207 shares of the company were exchanged, compared to its average volume of 490,326. The company has a debt-to-equity ratio of 1.69, a quick ratio of 1.05 and a current ratio of 1.05. The stock's 50 day moving average price is $358.56 and its 200 day moving average price is $323.91. Corpay has a 52-week low of $247.10 and a 52-week high of $385.30. The company has a market cap of $24.97 billion, a P/E ratio of 25.55, a PEG ratio of 1.40 and a beta of 1.26.

Insider Activity at Corpay

In other news, Director Joseph W. Farrelly sold 2,975 shares of the 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 completion of the sale, the director now owns 10,530 shares of the company's stock, valued at $3,950,645.40. This 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 this hyperlink. Also, CAO Alissa B. Vickery sold 8,000 shares of Corpay 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. The trade was a 81.66 % decrease in their position. The disclosure for this sale can be found here. 6.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. JPMorgan Chase & Co. boosted its holdings in Corpay by 2.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 5,287,311 shares of the company's stock worth $1,653,659,000 after acquiring an additional 120,578 shares during the period. FMR LLC boosted its stake in shares of Corpay by 3.0% in the third quarter. FMR LLC now owns 2,692,847 shares of the company's stock valued at $842,215,000 after purchasing an additional 78,880 shares during the period. Geode Capital Management LLC grew its holdings in Corpay by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 1,677,899 shares of the company's stock valued at $523,061,000 after purchasing an additional 23,275 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Corpay by 10.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 718,752 shares of the company's stock worth $191,497,000 after buying an additional 70,408 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Corpay by 0.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 458,477 shares of the company's stock worth $143,393,000 after buying an additional 1,749 shares in the last quarter. Institutional investors and hedge funds 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.