Corpay (NYSE:CPAY) Price Target Raised to $445.00 at Keefe, Bruyette & Woods

Corpay (NYSE:CPAY) had its target price increased by equities research analysts at Keefe, Bruyette & Woods from $415.00 to $445.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Keefe, Bruyette & Woods’ price objective indicates a potential upside of 13.84% from the stock’s previous close.

CPAY has been the subject of a number of other research reports. Citigroup began coverage on Corpay in a report on Tuesday, January 14th. They set a “buy” rating and a $430.00 price objective for the company. Barclays upped their price target on Corpay from $385.00 to $415.00 and gave the stock an “overweight” rating in a report on Monday, October 28th. Jefferies Financial Group boosted their price target on shares of Corpay from $375.00 to $425.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Wolfe Research upgraded shares of Corpay from a “peer perform” rating to an “outperform” rating and set a $420.00 target price on the stock in a research note on Wednesday, January 8th. Finally, BMO Capital Markets boosted their target price on Corpay from $400.00 to $440.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Three equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $385.71.

Corpay Trading Up 0.6 %

Corpay stock traded up $2.24 during mid-day trading on Thursday, hitting $390.91. 394,513 shares of the company’s stock were exchanged, compared to its average volume of 423,957. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 1.69. The firm has a market capitalization of $27.25 billion, a P/E ratio of 27.79, a PEG ratio of 1.30 and a beta of 1.28. The company’s 50 day simple moving average is $361.54 and its 200-day simple moving average is $335.21. Corpay has a fifty-two week low of $247.10 and a fifty-two week high of $400.81.

Corpay (NYSE:CPAY) last issued its earnings results on Wednesday, February 5th. The company reported $4.96 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 anticipate that Corpay will post 17.84 earnings per share for the current year.

Insider Activity

In other news, CAO Alissa B. Vickery sold 8,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $370.04, for a total transaction of $2,960,320.00. Following the transaction, the chief accounting officer now owns 1,797 shares of the company’s stock, valued at approximately $664,961.88. This represents a 81.66 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Joseph W. Farrelly sold 2,975 shares of Corpay 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 sale, the director now 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. 6.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Corpay

Several institutional investors and hedge funds have recently modified their holdings of CPAY. Exchange Traded Concepts LLC boosted its stake in shares of Corpay by 16.6% during the 4th quarter. Exchange Traded Concepts LLC now owns 204 shares of the company’s stock worth $69,000 after acquiring an additional 29 shares in the last quarter. Tealwood Asset Management Inc. raised its holdings in shares of Corpay by 0.7% during the fourth quarter. Tealwood Asset Management Inc. now owns 4,197 shares of the company’s stock valued at $1,420,000 after acquiring an additional 30 shares during the last quarter. Oregon Public Employees Retirement Fund raised its holdings in Corpay by 0.5% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 5,963 shares of the company’s stock valued at $2,018,000 after acquiring an additional 30 shares during the last quarter. IFP Advisors Inc lifted its position in Corpay by 2.7% during the fourth quarter. IFP Advisors Inc now owns 1,151 shares of the company’s stock worth $390,000 after buying an additional 30 shares in the last quarter. Finally, Lake Street Advisors Group LLC boosted its stake in Corpay by 3.5% during the fourth quarter. Lake Street Advisors Group LLC now owns 939 shares of the company’s stock worth $318,000 after buying an additional 32 shares during the last quarter. 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.