Corpay (NYSE:CPAY - Get Free Report) had its target price boosted by equities researchers at Wells Fargo & Company from $340.00 to $375.00 in a report released on Thursday,Benzinga reports. The firm presently has an "equal weight" rating on the stock. Wells Fargo & Company's target price points to a potential upside of 1.33% from the stock's current price.
CPAY has been the subject of several other research reports. Morgan Stanley increased their target price on shares of Corpay from $325.00 to $350.00 and gave the stock an "equal weight" rating in a research note on Monday, November 11th. Bank of America lifted their target price on shares of Corpay from $344.00 to $375.00 and gave the company a "buy" rating in a report on Tuesday, October 15th. Citigroup initiated coverage on Corpay in a research note on Tuesday. They set a "buy" rating and a $430.00 price target on the stock. 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 research note on Monday, January 6th. Finally, Jefferies Financial Group increased their target price on Corpay from $375.00 to $425.00 and gave the stock a "buy" rating in a research note on Wednesday, October 16th. Three analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $381.43.
Read Our Latest Stock Analysis on Corpay
Corpay Trading Up 2.2 %
Shares of NYSE CPAY traded up $7.84 during mid-day trading on Thursday, reaching $370.07. 527,106 shares of the company's stock were exchanged, compared to its average volume of 480,591. The company's 50-day moving average is $359.38 and its 200-day moving average is $324.82. The company has a debt-to-equity ratio of 1.69, a quick ratio of 1.05 and a current ratio of 1.05. The firm has a market capitalization of $25.80 billion, a price-to-earnings ratio of 26.40, a PEG ratio of 1.17 and a beta of 1.26. Corpay has a 52-week low of $247.10 and a 52-week high of $385.30.
Insider Buying and Selling
In other news, CAO Alissa B. Vickery sold 8,000 shares of the firm's stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $370.04, for a total transaction of $2,960,320.00. Following the sale, the chief accounting officer now owns 1,797 shares of the company's stock, valued at approximately $664,961.88. This trade represents a 81.66 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Joseph W. Farrelly sold 2,975 shares of the business's stock in a transaction that occurred 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 sale, the director now owns 10,530 shares of the company's stock, valued at approximately $3,950,645.40. The trade was a 22.03 % decrease in their position. The disclosure for this sale can be found here. 6.10% of the stock is owned by insiders.
Institutional Trading of Corpay
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CPAY. Tealwood Asset Management Inc. grew its position in shares of Corpay by 0.7% in the 4th quarter. Tealwood Asset Management Inc. now owns 4,197 shares of the company's stock valued at $1,420,000 after buying an additional 30 shares during the last quarter. Whittier Trust Co. of Nevada Inc. boosted its stake in Corpay by 22.7% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 184 shares of the company's stock valued at $58,000 after acquiring an additional 34 shares in the last quarter. Mather Group LLC. grew its holdings in shares of Corpay by 21.2% during the third quarter. Mather Group LLC. now owns 200 shares of the company's stock worth $63,000 after purchasing an additional 35 shares during the last quarter. Huntington National Bank increased its position in shares of Corpay by 43.0% during the third quarter. Huntington National Bank now owns 133 shares of the company's stock worth $42,000 after purchasing an additional 40 shares in the last quarter. Finally, Empirical Finance LLC lifted its holdings in shares of Corpay by 1.8% in the 3rd quarter. Empirical Finance LLC now owns 2,493 shares of the company's stock valued at $780,000 after purchasing an additional 43 shares during the last quarter. Institutional investors and hedge funds own 98.84% of the company's stock.
About Corpay
(
Get Free Report)
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.
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