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

Corpay (NYSE:CPAY) had its price target hoisted by Citigroup from $405.00 to $430.00 in a report published on Thursday,Benzinga reports. They currently have a buy rating on the stock.

CPAY has been the subject of a number of other research reports. Barclays upped their target price on Corpay from $385.00 to $415.00 and gave the stock an “overweight” rating in a report on Monday, October 28th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $310.00 target price on shares of Corpay in a report on Thursday, August 8th. Raymond James decreased their price target on Corpay from $330.00 to $311.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Morgan Stanley increased their price target on Corpay from $325.00 to $350.00 and gave the company an “equal weight” rating in a research note on Monday. Finally, Wells Fargo & Company increased their price target on Corpay from $285.00 to $320.00 and gave the company an “equal weight” rating in a research note on Monday, October 21st. Four analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Corpay presently has a consensus rating of “Moderate Buy” and a consensus price target of $363.93.

Corpay Price Performance

Shares of Corpay stock traded down $6.00 during trading on Thursday, reaching $364.28. 213,838 shares of the company’s stock were exchanged, compared to its average volume of 473,157. The company has a debt-to-equity ratio of 1.69, a quick ratio of 1.02 and a current ratio of 1.05. Corpay has a 1-year low of $230.68 and a 1-year high of $375.98. The company has a market cap of $25.39 billion, a P/E ratio of 26.42, a PEG ratio of 1.44 and a beta of 1.21. The firm’s 50-day moving average price is $330.77 and its 200 day moving average price is $298.37.

Insider Transactions at Corpay

In related news, Director Joseph W. Farrelly sold 2,975 shares of the stock in a transaction that occurred 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 sale, the director now directly owns 10,530 shares of the company’s stock, valued at approximately $3,950,645.40. This trade represents a 22.03 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 6.10% of the company’s stock.

Institutional Trading of Corpay

A number of institutional investors and hedge funds have recently modified their holdings of CPAY. Janney Montgomery Scott LLC purchased a new stake in shares of Corpay during the first quarter valued at approximately $316,000. Empowered Funds LLC purchased a new stake in Corpay in the first quarter worth $292,000. Sei Investments Co. purchased a new stake in Corpay in the first quarter worth $9,712,000. Headlands Technologies LLC purchased a new stake in Corpay in the first quarter worth $31,000. Finally, US Bancorp DE purchased a new stake in Corpay in the first quarter worth $1,068,000. 98.84% of the stock is owned by hedge funds and other institutional investors.

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.