BMO Capital Markets Issues Positive Forecast for Corpay (NYSE:CPAY) Stock Price

Corpay (NYSE:CPAY - Get Free Report) had its target price boosted by BMO Capital Markets from $400.00 to $440.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has an "outperform" rating on the stock. BMO Capital Markets' target price suggests a potential upside of 23.21% from the company's current price.

Other research analysts have also issued reports about the company. Keefe, Bruyette & Woods boosted their target price on Corpay from $400.00 to $425.00 and gave the stock an "outperform" rating in a report on Monday. Citigroup increased their price target on shares of Corpay from $405.00 to $430.00 and gave the company a "buy" rating in a report on Thursday, November 14th. JPMorgan Chase & Co. lifted their price target on Corpay from $327.00 to $353.00 and gave the stock an "overweight" rating in a report on Tuesday, August 20th. Morgan Stanley upped their price target on shares of Corpay from $325.00 to $350.00 and gave the company an "equal weight" rating in a research note on Monday, November 11th. Finally, Barclays increased their target price 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. Four investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Corpay has an average rating of "Moderate Buy" and an average target price of $369.29.

Corpay Trading Down 1.2 %

Shares of Corpay stock traded down $4.45 during trading on Friday, hitting $357.10. 231,336 shares of the company were exchanged, compared to its average volume of 471,125. The firm's fifty day moving average price is $355.66 and its 200 day moving average price is $310.01. The company has a debt-to-equity ratio of 1.69, a current ratio of 1.05 and a quick ratio of 1.05. The firm has a market capitalization of $24.89 billion, a P/E ratio of 25.77, a price-to-earnings-growth ratio of 1.43 and a beta of 1.24. Corpay has a 1-year low of $247.10 and a 1-year high of $385.30.

Insiders Place Their Bets

In related news, 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 value of $1,116,160.50. Following the completion of the sale, the director now directly owns 10,530 shares of the company's stock, valued at approximately $3,950,645.40. This represents a 22.03 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Alissa B. Vickery sold 8,000 shares of Corpay stock in a transaction on Wednesday, November 20th. The stock was 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 owns 1,797 shares in the company, valued at $664,961.88. The trade was a 81.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 6.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Corpay

Institutional investors have recently modified their holdings of the company. Albion Financial Group UT bought a new position in shares of Corpay in the 3rd quarter worth about $27,000. LGT Financial Advisors LLC purchased a new position in Corpay in the 2nd quarter worth approximately $33,000. Blue Trust Inc. boosted its position in shares of Corpay by 246.2% during the second quarter. Blue Trust Inc. now owns 135 shares of the company's stock worth $36,000 after acquiring an additional 96 shares during the last quarter. Innealta Capital LLC purchased a new position in shares of Corpay during the second quarter valued at about $36,000. Finally, Whittier Trust Co. of Nevada Inc. bought a new stake in Corpay in the 2nd quarter worth approximately $40,000. 98.84% of the stock is currently owned by institutional investors.

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.