Keefe, Bruyette & Woods Issues Pessimistic Forecast for Corpay (NYSE:CPAY) Stock Price

Corpay (NYSE:CPAY) had its price objective reduced by Keefe, Bruyette & Woods from $425.00 to $415.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Keefe, Bruyette & Woods’ target price indicates a potential upside of 19.41% from the company’s previous close.

Several other analysts also recently weighed in on the company. Citigroup lifted their target price on Corpay from $405.00 to $430.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Wells Fargo & Company upped their target price on shares of Corpay from $285.00 to $320.00 and gave the stock an “equal weight” rating in a research note on Monday, October 21st. Jefferies Financial Group increased their price objective on Corpay from $375.00 to $425.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Morgan Stanley lifted their target price on Corpay from $325.00 to $350.00 and gave the company an “equal weight” rating in a research report on Monday, November 11th. Finally, BMO Capital Markets increased their price target on Corpay from $400.00 to $440.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Four analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $368.57.

Corpay Trading Up 1.5 %

CPAY opened at $347.54 on Monday. Corpay has a one year low of $247.10 and a one year high of $385.30. The company has a debt-to-equity ratio of 1.69, a quick ratio of 1.05 and a current ratio of 1.05. The stock has a market cap of $24.23 billion, a price-to-earnings ratio of 24.79, a P/E/G ratio of 1.40 and a beta of 1.24. The stock’s 50 day moving average price is $356.63 and its 200-day moving average price is $321.53.

Insider Buying and Selling

In other Corpay news, CAO Alissa B. Vickery sold 8,000 shares of the company’s stock in a transaction dated 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 completion of the transaction, the chief accounting officer now owns 1,797 shares in the company, valued at approximately $664,961.88. This represents a 81.66 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 value of $1,116,160.50. Following 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. Corporate insiders own 6.10% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of CPAY. Whittier Trust Co. of Nevada Inc. increased its stake in Corpay by 22.7% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 184 shares of the company’s stock worth $58,000 after buying an additional 34 shares in the last quarter. Mather Group LLC. grew its holdings in shares of Corpay by 21.2% during the third quarter. Mather Group LLC. now owns 200 shares of the company’s stock worth $63,000 after buying an additional 35 shares in the last quarter. Huntington National Bank lifted its stake in shares of Corpay by 43.0% in the third quarter. Huntington National Bank now owns 133 shares of the company’s stock worth $42,000 after buying an additional 40 shares in the last quarter. Empirical Finance LLC boosted its position in Corpay by 1.8% during the third quarter. Empirical Finance LLC now owns 2,493 shares of the company’s stock worth $780,000 after acquiring an additional 43 shares during the last quarter. Finally, Signaturefd LLC raised its holdings in Corpay by 22.3% in the 3rd quarter. Signaturefd LLC now owns 252 shares of the company’s stock valued at $79,000 after acquiring an additional 46 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.