Corpay (NYSE:CPAY) Price Target Lowered to $339.00 at Wells Fargo & Company

Corpay (NYSE:CPAY) had its price objective trimmed by Wells Fargo & Company from $375.00 to $339.00 in a research report report published on Thursday,Benzinga reports. The brokerage currently has an equal weight rating on the stock.

Several other research analysts have also weighed in on the company. Citigroup initiated coverage on Corpay in a research report on Tuesday, January 14th. They set a “buy” rating and a $430.00 price target on the stock. Raymond James dropped their target price on Corpay from $434.00 to $417.00 and set an “outperform” rating on the stock in a report on Thursday, February 6th. Keefe, Bruyette & Woods raised their price target on shares of Corpay from $415.00 to $445.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. Barclays dropped their price objective on shares of Corpay from $440.00 to $400.00 and set an “overweight” rating on the stock in a research note on Monday, April 14th. Finally, Morgan Stanley lifted their target price on shares of Corpay from $350.00 to $380.00 and gave the company an “equal weight” rating in a research note on Thursday, February 6th. Three equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $397.62.

Corpay Trading Up 0.2 %

Shares of CPAY opened at $322.39 on Thursday. The company has a current ratio of 1.00, a quick ratio of 1.05 and a debt-to-equity ratio of 1.66. Corpay has a 1-year low of $247.10 and a 1-year high of $400.81. The stock has a market capitalization of $22.65 billion, a P/E ratio of 23.06, a P/E/G ratio of 1.32 and a beta of 1.11. The business’s 50-day moving average price is $334.94 and its 200 day moving average price is $351.31.

Corpay (NYSE:CPAY) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $4.96 EPS for the quarter, missing the consensus estimate of $5.37 by ($0.41). Corpay had a net margin of 25.25% and a return on equity of 41.46%. Analysts expect that Corpay will post 19.76 earnings per share for the current year.

Insider Activity

In other news, Director Richard Macchia sold 2,427 shares of the business’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $375.23, for a total value of $910,683.21. Following the sale, the director now owns 12,215 shares in the company, valued at approximately $4,583,434.45. The trade was a 16.58 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 6.10% of the company’s stock.

Institutional Investors Weigh In On Corpay

A number of hedge funds have recently made changes to their positions in CPAY. Allspring Global Investments Holdings LLC grew its stake in Corpay by 17.3% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 23,732 shares of the company’s stock worth $8,067,000 after buying an additional 3,504 shares during the last quarter. Crossmark Global Holdings Inc. grew its position in Corpay by 70.3% during the 4th quarter. Crossmark Global Holdings Inc. now owns 4,989 shares of the company’s stock worth $1,689,000 after acquiring an additional 2,059 shares during the last quarter. Radnor Capital Management LLC acquired a new stake in Corpay during the 4th quarter valued at $3,667,000. Nisa Investment Advisors LLC raised its position in Corpay by 68.4% in the 4th quarter. Nisa Investment Advisors LLC now owns 3,966 shares of the company’s stock valued at $1,342,000 after purchasing an additional 1,611 shares during the last quarter. Finally, Journey Strategic Wealth LLC acquired a new position in Corpay in the fourth quarter worth $499,000. Institutional investors and hedge funds own 98.84% of the company’s stock.

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.