Corpay (NYSE:CPAY) Price Target Raised to $350.00

Corpay (NYSE:CPAY - Free Report) had its price target boosted by Morgan Stanley from $325.00 to $350.00 in a research report released on Monday,Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

CPAY has been the topic of a number of other reports. JPMorgan Chase & Co. raised their price target on Corpay from $327.00 to $353.00 and gave the company an "overweight" rating in a report on Tuesday, August 20th. BMO Capital Markets raised their target price on Corpay from $350.00 to $390.00 and gave the company an "outperform" rating in a report on Thursday, October 3rd. Royal Bank of Canada reiterated a "sector perform" rating and issued a $310.00 price objective on shares of Corpay in a research note on Thursday, August 8th. Raymond James decreased their price target on shares of Corpay from $330.00 to $311.00 and set an "outperform" rating on the stock in a research report on Thursday, August 8th. Finally, Bank of America upped their target price on Corpay from $344.00 to $375.00 and gave the company a "buy" rating in a research note on Tuesday, October 15th. Four equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Corpay has a consensus rating of "Moderate Buy" and a consensus target price of $358.57.

Corpay Stock Up 2.1 %

Corpay stock traded up $7.69 during midday trading on Monday, hitting $373.70. 470,811 shares of the stock were exchanged, compared to its average volume of 472,444. The company has a 50 day moving average price of $325.93 and a two-hundred day moving average price of $296.35. Corpay has a 1 year low of $228.51 and a 1 year high of $375.35. The firm has a market cap of $25.95 billion, a P/E ratio of 26.11, a P/E/G ratio of 1.45 and a beta of 1.21. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.02 and a quick ratio of 1.02.

Hedge Funds Weigh In On Corpay

A number of large investors have recently made changes to their positions in CPAY. Albion Financial Group UT acquired a new position in Corpay during the third quarter worth $27,000. Headlands Technologies LLC purchased a new stake in Corpay during the 1st quarter valued at about $31,000. LGT Financial Advisors LLC acquired a new stake in Corpay in the 2nd quarter valued at about $33,000. RFP Financial Group LLC acquired a new position in shares of Corpay during the 1st quarter worth approximately $35,000. Finally, Blue Trust Inc. grew its position in shares of Corpay by 246.2% in the second quarter. Blue Trust Inc. now owns 135 shares of the company's stock valued at $36,000 after purchasing an additional 96 shares in the last quarter. 98.84% of the stock is owned by institutional investors and hedge funds.

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.