Corpay (NYSE:CPAY) Upgraded by Wolfe Research to Outperform Rating

Wolfe Research upgraded shares of Corpay (NYSE:CPAY) from a peer perform rating to an outperform rating in a research report sent to investors on Wednesday morning, Marketbeat reports. The firm currently has $420.00 target price on the stock.

Other equities analysts also recently issued research reports about the company. Bank of America upped their price target on Corpay from $344.00 to $375.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. Barclays increased their target price on shares of Corpay from $385.00 to $415.00 and gave the stock an “overweight” rating in a report on Monday, October 28th. Keefe, Bruyette & Woods cut their price target on shares of Corpay from $425.00 to $415.00 and set an “outperform” rating on the stock in a research report on Monday. Wells Fargo & Company increased their price objective 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. Finally, BMO Capital Markets lifted their target price on Corpay from $400.00 to $440.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Three research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Corpay has a consensus rating of “Moderate Buy” and an average target price of $377.50.

Corpay Stock Up 2.9 %

CPAY stock opened at $357.74 on Wednesday. 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 stock has a market capitalization of $24.94 billion, a P/E ratio of 25.52, a P/E/G ratio of 1.40 and a beta of 1.26. Corpay has a fifty-two week low of $247.10 and a fifty-two week high of $385.30. The business has a 50-day moving average of $357.15 and a 200-day moving average of $321.78.

Insider Activity

In related news, Director Joseph W. Farrelly sold 2,975 shares of the business’s stock in a transaction 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 completion of the sale, the director now directly owns 10,530 shares in the company, valued at $3,950,645.40. The trade was a 22.03 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Alissa B. Vickery sold 8,000 shares of Corpay stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $370.04, for a total value of $2,960,320.00. Following the sale, the chief accounting officer now directly owns 1,797 shares of the company’s stock, valued at $664,961.88. This represents a 81.66 % 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 and other institutional investors have recently bought and sold shares of CPAY. Albion Financial Group UT acquired a new position in shares of Corpay during the 3rd quarter worth approximately $27,000. Versant Capital Management Inc boosted its stake in shares of Corpay by 130.4% in the fourth quarter. Versant Capital Management Inc now owns 106 shares of the company’s stock valued at $36,000 after buying an additional 60 shares during the period. Huntington National Bank grew 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 buying an additional 40 shares in the last quarter. Quarry LP bought a new position in Corpay during the 3rd quarter worth $42,000. Finally, Continuum Advisory LLC raised its holdings in Corpay by 47.9% in the 3rd quarter. Continuum Advisory LLC now owns 142 shares of the company’s stock valued at $44,000 after acquiring an additional 46 shares in 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.