Corpay (NYSE:CPAY) Raised to "Outperform" at Wolfe Research

Wolfe Research upgraded shares of Corpay (NYSE:CPAY - Free Report) from a peer perform rating to an outperform rating in a research report released on Wednesday morning, MarketBeat reports. Wolfe Research currently has $420.00 price objective on the stock.

Several other equities research analysts have also recently issued reports on the stock. Citigroup raised their target price on shares of Corpay from $405.00 to $430.00 and gave the stock a "buy" rating in a research report on Thursday, November 14th. Wells Fargo & Company lifted their price target on shares of Corpay from $285.00 to $320.00 and gave the company an "equal weight" rating in a report on Monday, October 21st. 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 report on Monday. Barclays lifted their target price on Corpay from $385.00 to $415.00 and gave the company an "overweight" rating in a report on Monday, October 28th. Finally, Jefferies Financial Group boosted their price target on Corpay from $375.00 to $425.00 and gave the company a "buy" rating in a research report on Wednesday, October 16th. Three 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, the company has a consensus rating of "Moderate Buy" and a consensus target price of $377.50.

Corpay Trading Up 2.9 %

NYSE CPAY traded up $10.11 during trading hours on Wednesday, hitting $357.74. 828,794 shares of the company's stock were exchanged, compared to its average volume of 484,506. The business's 50 day moving average is $356.63 and its 200-day moving average is $321.53. The company has a debt-to-equity ratio of 1.69, a quick ratio of 1.05 and a current ratio of 1.05. Corpay has a 12-month low of $247.10 and a 12-month high of $385.30. The firm has a market capitalization of $24.94 billion, a P/E ratio of 25.52, a price-to-earnings-growth ratio of 1.40 and a beta of 1.24.

Insiders Place Their Bets

In other news, CAO Alissa B. Vickery sold 8,000 shares of the firm's stock in a transaction dated 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 directly owns 1,797 shares in the company, valued at approximately $664,961.88. This trade represents a 81.66 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Joseph W. Farrelly sold 2,975 shares of Corpay 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 completion of 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 ownership of the stock. The disclosure for this sale can be found here. 6.10% of the stock is owned by company insiders.

Institutional Trading of Corpay

Institutional investors and hedge funds have recently made changes to their positions in the stock. Albion Financial Group UT bought a new stake in Corpay in the 3rd quarter valued at about $27,000. Versant Capital Management Inc raised its holdings in shares of 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 buying an additional 60 shares during the last quarter. Huntington National Bank raised its holdings in shares of Corpay by 43.0% during the third quarter. Huntington National Bank now owns 133 shares of the company's stock valued at $42,000 after buying an additional 40 shares during the last quarter. Quarry LP acquired a new position in shares of Corpay during the third quarter worth approximately $42,000. Finally, Continuum Advisory LLC grew its holdings in Corpay by 47.9% in the 3rd quarter. Continuum Advisory LLC now owns 142 shares of the company's stock worth $44,000 after buying an additional 46 shares in the last quarter. 98.84% of the stock is currently 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.