Corpay (NYSE:CPAY) Coverage Initiated at Citigroup

Research analysts at Citigroup started coverage on shares of Corpay (NYSE:CPAY) in a research report issued to clients and investors on Tuesday. The brokerage set a “buy” rating and a $430.00 price target on the stock. Citigroup’s price objective suggests a potential upside of 18.60% from the stock’s previous close.

CPAY has been the subject of a number of other research reports. BMO Capital Markets increased 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. Jefferies Financial Group lifted their price objective on shares of Corpay from $375.00 to $425.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Wells Fargo & Company upped their target price on shares of Corpay from $285.00 to $320.00 and gave the company an “equal weight” rating in a research note on Monday, October 21st. Keefe, Bruyette & Woods dropped their price target on shares of Corpay from $425.00 to $415.00 and set an “outperform” rating on the stock in a research note on Monday, January 6th. Finally, Morgan Stanley upped their price objective on shares of Corpay from $325.00 to $350.00 and gave the company an “equal weight” rating in a research report on Monday, November 11th. Three analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Corpay presently has a consensus rating of “Moderate Buy” and an average price target of $377.50.

Corpay Stock Up 1.2 %

Shares of Corpay stock opened at $362.57 on Tuesday. The company has a fifty day moving average price of $359.11 and a 200 day moving average price of $324.55. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 1.69. Corpay has a twelve month low of $247.10 and a twelve month high of $385.30. The stock has a market cap of $25.28 billion, a price-to-earnings ratio of 25.86, a price-to-earnings-growth ratio of 1.40 and a beta of 1.26.

Insider Transactions at Corpay

In other news, CAO Alissa B. Vickery sold 8,000 shares of the firm’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 transaction, the chief accounting officer now directly owns 1,797 shares in the company, valued at approximately $664,961.88. This trade represents a 81.66 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Joseph W. Farrelly sold 2,975 shares of the business’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 sale, the director now directly owns 10,530 shares of the company’s stock, valued at approximately $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 Trading of Corpay

Several hedge funds have recently made changes to their positions in the stock. Acadian Asset Management LLC bought a new position in Corpay during the 2nd quarter worth $571,000. Choreo LLC bought a new position in shares of Corpay during the second quarter worth about $284,000. Federated Hermes Inc. increased its holdings in shares of Corpay by 3,514.3% in the 2nd quarter. Federated Hermes Inc. now owns 253 shares of the company’s stock worth $67,000 after acquiring an additional 246 shares during the period. Oppenheimer Asset Management Inc. increased its holdings in shares of Corpay by 9.7% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 3,533 shares of the company’s stock worth $941,000 after acquiring an additional 311 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in Corpay by 10.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 718,752 shares of the company’s stock valued at $191,497,000 after purchasing an additional 70,408 shares during the last quarter. Institutional investors 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.