Wells Fargo & Company Issues Positive Forecast for Corpay (NYSE:CPAY) Stock Price

Corpay (NYSE:CPAY) had its price target raised by stock analysts at Wells Fargo & Company from $340.00 to $375.00 in a research note issued on Thursday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price target points to a potential upside of 0.31% from the company’s current price.

A number of other brokerages also recently issued reports on CPAY. Jefferies Financial Group increased 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 raised shares of Corpay from a “peer perform” rating to an “outperform” rating and set a $420.00 price target on the stock in a report on Wednesday, January 8th. Keefe, Bruyette & Woods lowered their price target on shares of Corpay from $425.00 to $415.00 and set an “outperform” rating on the stock in a report on Monday, January 6th. Citigroup initiated coverage on shares of Corpay in a report on Tuesday. They set a “buy” rating and a $430.00 price target on the stock. Finally, Bank of America increased their price objective on shares of Corpay from $344.00 to $375.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. Three investment 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 company. According to data from MarketBeat.com, Corpay presently has an average rating of “Moderate Buy” and a consensus target price of $381.43.

Corpay Stock Performance

NYSE CPAY traded up $11.61 during mid-day trading on Thursday, reaching $373.84. 85,992 shares of the stock were exchanged, compared to its average volume of 432,763. The business’s 50 day moving average is $359.11 and its 200-day moving average is $324.55. Corpay has a 1 year low of $247.10 and a 1 year high of $385.30. The company has a market capitalization of $26.06 billion, a P/E ratio of 26.66, a P/E/G ratio of 1.17 and a beta of 1.26. The company has a debt-to-equity ratio of 1.69, a quick ratio of 1.05 and a current ratio of 1.05.

Insider Transactions at Corpay

In related news, Director Joseph W. Farrelly sold 2,975 shares of the firm’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 in the company, valued at approximately $3,950,645.40. This trade represents a 22.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Alissa B. Vickery sold 8,000 shares of the firm’s stock in a transaction dated 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 sale, the chief accounting officer now owns 1,797 shares of the company’s stock, valued at approximately $664,961.88. The trade was a 81.66 % 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.

Institutional Investors Weigh In On Corpay

Hedge funds and other institutional investors have recently bought and sold shares of the company. Albion Financial Group UT acquired a new stake in Corpay during the third quarter worth about $27,000. Versant Capital Management Inc increased its position in Corpay by 130.4% during the fourth quarter. Versant Capital Management Inc now owns 106 shares of the company’s stock worth $36,000 after purchasing an additional 60 shares during the last quarter. Huntington National Bank increased its position in Corpay by 43.0% during the third 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. Quarry LP acquired a new stake in Corpay during the third quarter worth about $42,000. Finally, Continuum Advisory LLC increased its position in Corpay by 47.9% during the third quarter. Continuum Advisory LLC now owns 142 shares of the company’s stock worth $44,000 after purchasing an additional 46 shares during the last quarter. 98.84% of the stock is currently owned by institutional investors and hedge funds.

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.