Citigroup Forecasts Strong Price Appreciation for Corpay (NYSE:CPAY) Stock

Corpay (NYSE:CPAY) had its price objective upped by stock analysts at Citigroup from $405.00 to $430.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Citigroup’s price target would suggest a potential upside of 18.34% from the stock’s previous close.

CPAY has been the subject of a number of other research reports. Jefferies Financial Group lifted their target price 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. Royal Bank of Canada reissued a “sector perform” rating and issued a $310.00 price objective on shares of Corpay in a research note on Thursday, August 8th. William Blair upgraded Corpay to a “strong-buy” rating in a research note on Thursday, August 8th. JPMorgan Chase & Co. upped their price target on shares of Corpay from $327.00 to $353.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 20th. Finally, Barclays raised their price objective on shares of Corpay from $385.00 to $415.00 and gave the company an “overweight” rating in a research report on Monday, October 28th. Four equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $363.93.

Corpay Trading Down 1.9 %

Shares of CPAY stock opened at $363.36 on Thursday. The company has a market capitalization of $25.33 billion, a P/E ratio of 25.92, a P/E/G ratio of 1.44 and a beta of 1.21. Corpay has a 12-month low of $230.68 and a 12-month high of $375.98. The company has a quick ratio of 1.02, a current ratio of 1.05 and a debt-to-equity ratio of 1.69. The firm has a 50-day moving average price of $330.77 and a 200 day moving average price of $298.37.

Insider Buying and Selling at Corpay

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

Institutional Trading of Corpay

Institutional investors and hedge funds have recently modified their holdings of the stock. Albion Financial Group UT acquired a new position in Corpay during the third quarter valued at approximately $27,000. Headlands Technologies LLC acquired a new stake in Corpay in the first quarter worth $31,000. LGT Financial Advisors LLC bought a new position in shares of Corpay during the second quarter worth $33,000. Blue Trust Inc. grew its holdings in shares of Corpay by 246.2% in the 2nd quarter. Blue Trust Inc. now owns 135 shares of the company’s stock valued at $36,000 after buying an additional 96 shares during the period. Finally, Innealta Capital LLC acquired a new position in shares of Corpay in the 2nd quarter valued at $36,000. 98.84% of the stock is owned by 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.