Corpay (NYSE:CPAY) Given New $380.00 Price Target at Morgan Stanley

Corpay (NYSE:CPAY - Get Free Report) had its price target upped by research analysts at Morgan Stanley from $350.00 to $380.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has an "equal weight" rating on the stock. Morgan Stanley's price objective points to a potential upside of 1.32% from the company's previous close.

A number of other research firms have also recently commented on CPAY. Citigroup began coverage on Corpay in a research report on Tuesday, January 14th. They set a "buy" rating and a $430.00 price objective for the company. Wells Fargo & Company upped their price target on shares of Corpay from $340.00 to $375.00 and gave the company an "equal weight" rating in a research report on Thursday, January 16th. BMO Capital Markets increased their price objective on shares of Corpay from $400.00 to $440.00 and gave the stock an "outperform" rating in a research note on Friday, December 13th. Barclays boosted their target price 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. Finally, Jefferies Financial Group increased their price target 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. Three equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Corpay currently has an average rating of "Moderate Buy" and an average price target of $399.71.

Corpay Stock Performance

CPAY traded down $0.80 during midday trading on Thursday, hitting $375.06. 511,184 shares of the company traded hands, compared to its average volume of 453,620. The company's 50-day moving average is $361.61 and its 200 day moving average is $336.86. The company has a quick ratio of 1.05, a current ratio of 1.00 and a debt-to-equity ratio of 1.66. The firm has a market capitalization of $26.15 billion, a PE ratio of 26.83, a price-to-earnings-growth 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 issued its quarterly earnings data on Wednesday, February 5th. The company reported $4.96 earnings per share for the quarter, missing analysts' consensus estimates of $5.37 by ($0.41). Corpay had a net margin of 25.25% and a return on equity of 41.46%. On average, research analysts expect that Corpay will post 20.62 EPS for the current year.

Insider Activity

In other Corpay news, 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 value of $2,960,320.00. Following the sale, the chief accounting officer now directly 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 legal filing with the SEC, which is accessible through this link. Also, Director Joseph W. Farrelly sold 2,975 shares of the stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $375.18, for a total transaction of $1,116,160.50. Following the transaction, the director now directly owns 10,530 shares of the company's stock, valued at $3,950,645.40. This trade represents a 22.03 % 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 added to or reduced their stakes in the company. Albion Financial Group UT bought a new position in shares of Corpay during the 3rd quarter valued at approximately $27,000. Avion Wealth raised its stake in Corpay by 1,011.1% during the fourth quarter. Avion Wealth now owns 100 shares of the company's stock valued at $33,000 after purchasing an additional 91 shares in the last quarter. Versant Capital Management Inc lifted its position in Corpay by 130.4% during the fourth quarter. Versant Capital Management Inc now owns 106 shares of the company's stock valued at $36,000 after purchasing an additional 60 shares during the last quarter. Huntington National Bank grew its stake in shares of Corpay by 43.0% in the 3rd quarter. Huntington National Bank now owns 133 shares of the company's stock worth $42,000 after buying an additional 40 shares in the last quarter. Finally, Quarry LP bought a new stake in shares of Corpay in the 3rd quarter worth about $42,000. Institutional investors own 98.84% of the company's stock.

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.