Corpay, Inc. (NYSE:CPAY) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Corpay, Inc. (NYSE:CPAY) have been assigned an average rating of “Moderate Buy” from the fifteen analysts that are currently covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation, eleven have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $381.43.

Several brokerages have recently weighed in on CPAY. Wolfe Research raised shares of Corpay from a “peer perform” rating to an “outperform” rating and set a $420.00 target price on the stock in a report on Wednesday, January 8th. Citigroup assumed coverage on Corpay in a research report on Tuesday, January 14th. They set a “buy” rating and a $430.00 target price on the stock. Bank of America raised their price target on Corpay from $344.00 to $375.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. Barclays upped their price objective on Corpay from $385.00 to $415.00 and gave the stock an “overweight” rating in a report on Monday, October 28th. Finally, Morgan Stanley boosted their target price on shares of Corpay from $325.00 to $350.00 and gave the stock an “equal weight” rating in a research report on Monday, November 11th.

Corpay Stock Performance

NYSE:CPAY opened at $370.91 on Tuesday. The company has a debt-to-equity ratio of 1.69, a current ratio of 1.05 and a quick ratio of 1.05. The firm has a market cap of $25.86 billion, a price-to-earnings ratio of 26.46, a price-to-earnings-growth ratio of 1.17 and a beta of 1.26. The firm’s fifty day moving average price is $359.95 and its 200 day moving average price is $326.68. Corpay has a 1-year low of $247.10 and a 1-year high of $385.30.

Insiders Place Their Bets

In related news, Director Joseph W. Farrelly sold 2,975 shares of the stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $375.18, for a total transaction of $1,116,160.50. Following the transaction, the director now directly 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 filing with the SEC, which can be accessed through this hyperlink. Also, CAO Alissa B. Vickery sold 8,000 shares of Corpay 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 sale, the chief accounting officer now owns 1,797 shares of the company’s stock, valued at $664,961.88. This trade represents a 81.66 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 6.10% of the company’s stock.

Hedge Funds Weigh In On Corpay

Hedge funds have recently made changes to their positions in the stock. JPMorgan Chase & Co. raised its position in shares of Corpay by 2.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 5,287,311 shares of the company’s stock worth $1,653,659,000 after buying an additional 120,578 shares during the period. FMR LLC raised its holdings in shares of Corpay by 3.0% in the 3rd quarter. FMR LLC now owns 2,692,847 shares of the company’s stock worth $842,215,000 after purchasing an additional 78,880 shares during the period. Geode Capital Management LLC lifted its stake in shares of Corpay by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 1,677,899 shares of the company’s stock valued at $523,061,000 after purchasing an additional 23,275 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Corpay by 10.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 718,752 shares of the company’s stock worth $191,497,000 after purchasing an additional 70,408 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in Corpay by 0.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 458,477 shares of the company’s stock valued at $143,393,000 after buying an additional 1,749 shares during the period. Institutional investors and hedge funds own 98.84% of the company’s stock.

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.