Corpay (NYSE:CPAY) Upgraded to “Outperform” at Wolfe Research

Wolfe Research upgraded shares of Corpay (NYSE:CPAY) from a peer perform rating to an outperform rating in a research report sent to investors on Wednesday, MarketBeat.com reports. Wolfe Research currently has $420.00 price target on the stock.

CPAY has been the subject of several other research reports. Keefe, Bruyette & Woods decreased their price target on shares of Corpay from $425.00 to $415.00 and set an “outperform” rating for the company in a research report on Monday, January 6th. Citigroup boosted their target price on Corpay from $405.00 to $430.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Bank of America increased 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. Morgan Stanley boosted their price objective on Corpay from $325.00 to $350.00 and gave the stock an “equal weight” rating in a research report on Monday, November 11th. Finally, BMO Capital Markets raised their target price on shares of Corpay from $400.00 to $440.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Three research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Corpay has an average rating of “Moderate Buy” and a consensus price target of $377.50.

Corpay Stock Down 2.3 %

Shares of CPAY opened at $349.23 on Wednesday. The company’s 50-day simple moving average is $358.10 and its 200-day simple moving average is $322.58. 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 1 year low of $247.10 and a 1 year high of $385.30. The stock has a market capitalization of $24.35 billion, a PE ratio of 24.91, a P/E/G ratio of 1.40 and a beta of 1.26.

Insider Activity at Corpay

In other Corpay news, CAO Alissa B. Vickery sold 8,000 shares of Corpay stock in a transaction 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 in the company, valued at approximately $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 SEC, which can be accessed through this hyperlink. Also, 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 transaction of $1,116,160.50. Following the completion of the sale, the director now directly owns 10,530 shares of the company’s stock, valued at $3,950,645.40. The trade was 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.

Hedge Funds Weigh In On Corpay

Several institutional investors have recently added to or reduced their stakes in the stock. Albion Financial Group UT acquired a new position in shares of Corpay during the third quarter worth about $27,000. Versant Capital Management Inc boosted its holdings in Corpay by 130.4% in 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 in 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 during the period. Quarry LP purchased a new position in shares of Corpay during the 3rd quarter worth approximately $42,000. Finally, Continuum Advisory LLC lifted its holdings in shares of Corpay by 47.9% in the 3rd quarter. Continuum Advisory LLC now owns 142 shares of the company’s stock valued at $44,000 after buying an additional 46 shares during the period. 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.