Corpay (NYSE:CPAY) Given New $380.00 Price Target at Morgan Stanley

Corpay (NYSE:CPAY) had its target price raised by analysts at Morgan Stanley from $350.00 to $380.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Morgan Stanley’s price objective would suggest a potential downside of 2.25% from the stock’s previous close.

Other equities research analysts also recently issued reports about the stock. Wolfe Research raised shares of Corpay from a “peer perform” rating to an “outperform” rating and set a $420.00 target price on the stock in a research note on Wednesday, January 8th. Keefe, Bruyette & Woods lowered their price objective on shares of Corpay from $425.00 to $415.00 and set an “outperform” rating on the stock in a research report on Monday, January 6th. Jefferies Financial Group upped their target price on shares of Corpay from $375.00 to $425.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Bank of America raised their price target on Corpay from $344.00 to $375.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. Finally, Citigroup started coverage on Corpay in a report on Tuesday, January 14th. They issued a “buy” rating and a $430.00 price objective for the company. Three analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $383.57.

Corpay Trading Up 2.4 %

Corpay stock opened at $388.76 on Thursday. 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 fifty-two week low of $247.10 and a fifty-two week high of $391.10. The stock has a market cap of $27.10 billion, a P/E ratio of 27.73, a PEG ratio of 1.30 and a beta of 1.28. The firm’s fifty day moving average price is $361.54 and its 200-day moving average price is $335.21.

Corpay (NYSE:CPAY) last announced its earnings results on Wednesday, February 5th. The company reported $4.96 earnings per share for the quarter, missing analysts’ consensus estimates of $5.37 by ($0.41). Corpay had a return on equity of 39.44% and a net margin of 26.14%. Equities research analysts forecast that Corpay will post 17.84 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Joseph W. Farrelly sold 2,975 shares of the business’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 transaction, the director now owns 10,530 shares in the company, valued at $3,950,645.40. The trade was a 22.03 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Alissa B. Vickery sold 8,000 shares of the company’s stock in a transaction that occurred on 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 of the company’s stock, valued at $664,961.88. The trade was a 81.66 % decrease in their position. The disclosure for this sale can be found here. Insiders own 6.10% of the company’s stock.

Hedge Funds Weigh In On Corpay

Hedge funds have recently made changes to their positions in the business. Albion Financial Group UT bought a new position in Corpay in the third quarter worth about $27,000. Avion Wealth grew its holdings in shares of Corpay by 1,011.1% during the 4th quarter. Avion Wealth now owns 100 shares of the company’s stock worth $33,000 after acquiring an additional 91 shares during the period. Versant Capital Management Inc raised its position in shares of Corpay by 130.4% in the 4th quarter. Versant Capital Management Inc now owns 106 shares of the company’s stock worth $36,000 after acquiring an additional 60 shares in the last quarter. Huntington National Bank lifted its stake in shares of Corpay by 43.0% in the 3rd quarter. Huntington National Bank now owns 133 shares of the company’s stock valued at $42,000 after purchasing an additional 40 shares during the period. Finally, Quarry LP bought a new stake in shares of Corpay during the third quarter valued at approximately $42,000. 98.84% of the stock is owned by hedge funds and other 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.