Corpay (NYSE:CPAY) Price Target Raised to $375.00 at Wells Fargo & Company

Corpay (NYSE:CPAY) had its target price hoisted by research analysts at Wells Fargo & Company from $340.00 to $375.00 in a research report issued on Thursday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price target would indicate a potential upside of 1.10% from the company’s current price.

Other analysts have also recently issued reports about the company. Keefe, Bruyette & Woods cut their price objective on Corpay from $425.00 to $415.00 and set an “outperform” rating for the company in a research report on Monday, January 6th. Jefferies Financial Group raised their price target on Corpay from $375.00 to $425.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. BMO Capital Markets upped their price objective on shares of Corpay from $400.00 to $440.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Citigroup began coverage on shares of Corpay in a research note on Tuesday. They set a “buy” rating and a $430.00 target price for the company. Finally, Wolfe Research upgraded shares of Corpay from a “peer perform” rating to an “outperform” rating and set a $420.00 price target on the stock in a research note on Wednesday, January 8th. Three research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $381.43.

Corpay Stock Up 0.2 %

Shares of CPAY stock opened at $370.91 on Thursday. Corpay has a 52-week low of $247.10 and a 52-week high of $385.30. 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 stock has a market cap of $25.86 billion, a price-to-earnings ratio of 26.46, a PEG ratio of 1.17 and a beta of 1.26. The firm’s 50-day moving average is $359.85 and its 200-day moving average is $325.13.

Insider Activity at Corpay

In related news, CAO Alissa B. Vickery sold 8,000 shares of the business’s stock in a transaction dated 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 completion of the transaction, the chief accounting officer now owns 1,797 shares of the company’s stock, valued at $664,961.88. The trade was a 81.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Joseph W. Farrelly sold 2,975 shares of the company’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $375.18, for a total transaction of $1,116,160.50. Following the sale, the director now directly owns 10,530 shares of the company’s stock, valued at $3,950,645.40. This represents a 22.03 % decrease in their position. The disclosure for this sale can be found here. 6.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Albion Financial Group UT acquired a new position in Corpay during the third quarter worth about $27,000. Versant Capital Management Inc grew its holdings in shares of Corpay by 130.4% during the 4th 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 increased its position in Corpay by 43.0% during the 3rd 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. Quarry LP bought a new position in Corpay in the 3rd quarter valued at approximately $42,000. Finally, Continuum Advisory LLC boosted its position in Corpay by 47.9% in the third quarter. Continuum Advisory LLC now owns 142 shares of the company’s stock valued at $44,000 after buying an additional 46 shares in the last quarter. 98.84% of the stock is owned by 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.