Morgan Stanley Issues Positive Forecast for Corpay (NYSE:CPAY) Stock Price

Corpay (NYSE:CPAY) had its price target upped by Morgan Stanley from $350.00 to $380.00 in a report issued on Thursday,Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

CPAY has been the topic of a number of other reports. Citigroup assumed coverage on Corpay in a research note on Tuesday, January 14th. They issued a “buy” rating and a $430.00 price target on the stock. Keefe, Bruyette & Woods lowered their target price on shares of Corpay from $425.00 to $415.00 and set an “outperform” rating for the company in a report on Monday, January 6th. Barclays upped their price target 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. BMO Capital Markets boosted their price objective on shares of Corpay from $400.00 to $440.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Finally, Bank of America upped their price objective on Corpay from $344.00 to $375.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. 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. According to data from MarketBeat.com, Corpay has an average rating of “Moderate Buy” and a consensus target price of $399.71.

Corpay Stock Performance

NYSE:CPAY opened at $389.35 on Thursday. Corpay has a 1-year low of $247.10 and a 1-year high of $400.81. The firm has a 50 day simple moving average of $361.54 and a 200-day simple moving average of $335.21. The firm has a market cap of $27.14 billion, a PE ratio of 27.77, a P/E/G ratio of 1.30 and a beta of 1.28. 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 (NYSE:CPAY) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $4.96 earnings per share for the quarter, missing the consensus estimate of $5.37 by ($0.41). Corpay had a net margin of 26.14% and a return on equity of 39.44%. On average, equities analysts expect that Corpay will post 17.84 EPS for the current year.

Insider Activity

In related news, CAO Alissa B. Vickery sold 8,000 shares of the firm’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $370.04, for a total transaction of $2,960,320.00. Following the completion of the sale, the chief accounting officer now directly owns 1,797 shares of the company’s stock, valued at approximately $664,961.88. This trade represents a 81.66 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Joseph W. Farrelly sold 2,975 shares of the business’s stock in a transaction on 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 completion of the transaction, the director now owns 10,530 shares in the company, valued at $3,950,645.40. This represents a 22.03 % decrease in their position. 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 hedge funds and other institutional investors have recently bought and sold shares of the business. Albion Financial Group UT acquired a new stake in shares of Corpay during the third quarter worth approximately $27,000. Avion Wealth boosted its stake in Corpay by 1,011.1% during the 4th quarter. Avion Wealth now owns 100 shares of the company’s stock valued at $33,000 after acquiring an additional 91 shares during the last quarter. Versant Capital Management Inc grew its holdings in Corpay by 130.4% during 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 increased its position in shares of Corpay by 43.0% in 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 last quarter. Finally, Quarry LP acquired a new stake in shares of Corpay in the 3rd quarter valued at about $42,000. 98.84% of the stock is currently 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.