Corpay (NYSE:CPAY) Earns Buy Rating from Analysts at Citigroup

Citigroup began coverage on shares of Corpay (NYSE:CPAY) in a report released on Tuesday morning. The brokerage issued a buy rating and a $430.00 price objective on the stock.

Several other equities research analysts have also recently issued reports on CPAY. Morgan Stanley raised their target price 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 boosted their price objective on shares of Corpay from $385.00 to $415.00 and gave the company an “overweight” rating in a research note on Monday, October 28th. Wolfe Research raised Corpay from a “peer perform” rating to an “outperform” rating and set a $420.00 target price on the stock in a research report on Wednesday, January 8th. Wells Fargo & Company boosted their price target on Corpay from $285.00 to $320.00 and gave the company an “equal weight” rating in a research report on Monday, October 21st. Finally, Keefe, Bruyette & Woods cut their price objective on Corpay from $425.00 to $415.00 and set an “outperform” rating on the stock in a report on Monday, January 6th. Three research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Corpay currently has a consensus rating of “Moderate Buy” and an average price target of $381.43.

Corpay Stock Performance

NYSE CPAY opened at $370.07 on Tuesday. The business’s 50-day moving average price is $359.38 and its 200 day moving average price is $324.82. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 1.69. Corpay has a twelve month low of $247.10 and a twelve month high of $385.30. The company has a market capitalization of $25.80 billion, a PE ratio of 26.40, a price-to-earnings-growth ratio of 1.17 and a beta of 1.26.

Insider Buying and Selling

In other Corpay news, Director Joseph W. Farrelly sold 2,975 shares of the company’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $375.18, for a total value of $1,116,160.50. Following the completion of the transaction, 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Alissa B. Vickery sold 8,000 shares of Corpay 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 sale, the chief accounting officer now directly owns 1,797 shares in the company, valued at approximately $664,961.88. The trade was a 81.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 6.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Corpay

A number of hedge funds have recently bought and sold shares of the business. Oppenheimer Asset Management Inc. grew its position in shares of Corpay by 66.7% during the third quarter. Oppenheimer Asset Management Inc. now owns 5,888 shares of the company’s stock worth $1,842,000 after buying an additional 2,355 shares in the last quarter. Swedbank AB grew its holdings in Corpay by 46.3% during the 3rd quarter. Swedbank AB now owns 186,117 shares of the company’s stock worth $58,210,000 after acquiring an additional 58,900 shares in the last quarter. Retireful LLC bought a new stake in shares of Corpay in the 3rd quarter worth about $702,000. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of Corpay in the 3rd quarter valued at about $527,000. Finally, Banco Santander S.A. bought a new position in shares of Corpay during the third quarter worth about $668,000. Institutional investors and hedge funds 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.