Corpay (NYSE:CPAY) PT Raised to $355.00 at Barclays

Corpay (NYSE:CPAY) had its price target boosted by equities researchers at Barclays from $340.00 to $355.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Barclays‘s target price would suggest a potential upside of 19.82% from the stock’s previous close.

Several other research analysts have also issued reports on CPAY. Jefferies Financial Group increased their target price on Corpay from $340.00 to $355.00 and gave the stock a “buy” rating in a research report on Friday, April 12th. Robert W. Baird increased their target price on Corpay from $355.00 to $376.00 and gave the stock an “outperform” rating in a research report on Thursday, April 4th.

Corpay Trading Down 0.8 %

NYSE CPAY opened at $296.27 on Tuesday. Corpay has a fifty-two week low of $204.04 and a fifty-two week high of $319.94. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.04 and a quick ratio of 1.04. The company has a market capitalization of $21.39 billion, a price-to-earnings ratio of 22.44, a price-to-earnings-growth ratio of 1.13 and a beta of 1.23.

Hedge Funds Weigh In On Corpay

A number of institutional investors and hedge funds have recently modified their holdings of CPAY. Sunbelt Securities Inc. purchased a new position in shares of Corpay in the 1st quarter worth $34,000. Massmutual Trust Co. FSB ADV purchased a new position in Corpay during the first quarter valued at $61,000. Financial Management Professionals Inc. purchased a new position in Corpay during the first quarter valued at $130,000. GAMMA Investing LLC purchased a new position in Corpay during the first quarter valued at $149,000. Finally, Wedmont Private Capital purchased a new position in Corpay during the first quarter valued at $242,000. 98.84% of the stock is currently owned by hedge funds and other institutional investors.

Corpay Company Profile

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.