Corpay (NYSE:CPAY) Price Target Raised to $440.00 at BMO Capital Markets

Corpay (NYSE:CPAY) had its price target hoisted by BMO Capital Markets from $400.00 to $440.00 in a report released on Friday morning,Benzinga reports. BMO Capital Markets currently has an outperform rating on the stock.

Several other research analysts also recently issued reports on the stock. Morgan Stanley upped their price target on shares of Corpay from $325.00 to $350.00 and gave the stock an “equal weight” rating in a research report on Monday, November 11th. Barclays upped their target price on shares of Corpay from $385.00 to $415.00 and gave the stock an “overweight” rating in a research report on Monday, October 28th. Citigroup raised their price target on shares of Corpay from $405.00 to $430.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Keefe, Bruyette & Woods upped their price objective on Corpay from $400.00 to $425.00 and gave the stock an “outperform” rating in a report on Monday, December 9th. Finally, Bank of America upped their target price on shares of Corpay from $344.00 to $375.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. Four investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $369.29.

Corpay Stock Down 1.2 %

NYSE CPAY opened at $357.07 on Friday. The stock’s 50 day simple moving average is $356.18 and its 200 day simple moving average is $311.30. The company has a debt-to-equity ratio of 1.69, a current ratio of 1.05 and a quick ratio of 1.05. Corpay has a one year low of $247.10 and a one year high of $385.30. The firm has a market cap of $24.89 billion, a PE ratio of 25.47, a price-to-earnings-growth ratio of 1.43 and a beta of 1.24.

Insiders Place Their Bets

In other news, CAO Alissa B. Vickery sold 8,000 shares of the stock in a transaction dated 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. This represents a 81.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Joseph W. Farrelly sold 2,975 shares of the stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $375.18, for a total transaction of $1,116,160.50. Following the completion of the transaction, the director now directly owns 10,530 shares in the company, valued at approximately $3,950,645.40. This represents a 22.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 6.10% of the company’s stock.

Institutional Investors Weigh In On Corpay

Several institutional investors and hedge funds have recently bought and sold shares of the company. Albion Financial Group UT acquired a new position in shares of Corpay during the third quarter worth $27,000. LGT Financial Advisors LLC bought a new position in Corpay during the 2nd quarter worth $33,000. Blue Trust Inc. lifted its holdings in Corpay by 246.2% during the 2nd quarter. Blue Trust Inc. now owns 135 shares of the company’s stock worth $36,000 after buying an additional 96 shares during the period. Innealta Capital LLC bought a new stake in shares of Corpay in the 2nd quarter valued at about $36,000. Finally, Whittier Trust Co. of Nevada Inc. acquired a new stake in shares of Corpay in the second quarter valued at about $40,000. Institutional investors own 98.84% of the company’s stock.

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.