Royal Bank of Canada Raises Corpay (NYSE:CPAY) Price Target to $400.00

Corpay (NYSE:CPAY - Get Free Report) had its price target increased by stock analysts at Royal Bank of Canada from $354.00 to $400.00 in a research note issued on Thursday,Benzinga reports. The firm presently has a "sector perform" rating on the stock. Royal Bank of Canada's price target would indicate a potential upside of 6.65% from the company's current price.

CPAY has been the subject of a number of other research reports. BMO Capital Markets lifted their price target on Corpay from $400.00 to $440.00 and gave the stock an "outperform" rating in a report on Friday, December 13th. Wolfe Research upgraded Corpay from a "peer perform" rating to an "outperform" rating and set a $420.00 target price for the company in a research note on Wednesday, January 8th. Citigroup started coverage on Corpay in a research note on Tuesday, January 14th. They issued a "buy" rating and a $430.00 price target on the stock. Jefferies Financial Group lifted their price objective on shares of Corpay from $375.00 to $425.00 and gave the stock a "buy" rating in a research report on Wednesday, October 16th. Finally, Barclays increased their price objective on shares of Corpay from $385.00 to $415.00 and gave the company an "overweight" rating in a research report on Monday, October 28th. Three equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Corpay has an average rating of "Moderate Buy" and a consensus target price of $399.71.

Corpay Stock Down 0.2 %

Shares of CPAY traded down $0.80 during mid-day trading on Thursday, hitting $375.06. 511,245 shares of the company's stock were exchanged, compared to its average volume of 455,818. The company has a 50-day simple moving average of $361.61 and a 200 day simple moving average of $336.86. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.00 and a quick ratio of 1.05. The company has a market cap of $26.15 billion, a PE ratio of 26.83, a P/E/G ratio of 1.33 and a beta of 1.28. Corpay has a 52 week low of $247.10 and a 52 week high of $400.81.

Corpay (NYSE:CPAY - Get Free Report) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $4.96 earnings per share for the quarter, missing the consensus estimate of $5.37 by ($0.41). Corpay had a return on equity of 41.46% and a net margin of 25.25%. On average, research analysts forecast that Corpay will post 20.62 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CAO Alissa B. Vickery sold 8,000 shares of the business's stock in a transaction that occurred on 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 in the company, valued at approximately $664,961.88. The trade was a 81.66 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Joseph W. Farrelly sold 2,975 shares of the stock in a transaction on 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. 6.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in CPAY. Gallacher Capital Management LLC increased its holdings in Corpay by 43.8% in the fourth quarter. Gallacher Capital Management LLC now owns 1,061 shares of the company's stock worth $359,000 after purchasing an additional 323 shares in the last quarter. Envestnet Portfolio Solutions Inc. lifted its position in shares of Corpay by 2.4% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 4,768 shares of the company's stock valued at $1,614,000 after acquiring an additional 110 shares during the period. Natixis Advisors LLC lifted its position in shares of Corpay by 12.2% during the 4th quarter. Natixis Advisors LLC now owns 30,815 shares of the company's stock valued at $10,428,000 after acquiring an additional 3,362 shares during the period. Intact Investment Management Inc. boosted its stake in Corpay by 77.3% during the fourth quarter. Intact Investment Management Inc. now owns 3,900 shares of the company's stock worth $1,320,000 after acquiring an additional 1,700 shares in the last quarter. Finally, Aviso Financial Inc. acquired a new stake in Corpay in the fourth quarter worth $151,000. 98.84% of the stock is owned by institutional investors and hedge funds.

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.