Corpay (NYSE:CPAY) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Corpay (NYSE:CPAY) had its price target hoisted by research analysts at Wells Fargo & Company from $340.00 to $375.00 in a research report issued on Thursday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price objective would suggest a potential upside of 1.10% from the company’s previous close.

Other equities analysts have also recently issued reports about the company. Bank of America raised their target price on Corpay from $344.00 to $375.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. BMO Capital Markets lifted their price objective on Corpay from $400.00 to $440.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Citigroup began coverage on shares of Corpay in a report on Tuesday. They issued a “buy” rating and a $430.00 target price on the stock. Barclays lifted their price target on shares of Corpay from $385.00 to $415.00 and gave the company an “overweight” rating in a report on Monday, October 28th. Finally, Wolfe Research raised shares of Corpay from a “peer perform” rating to an “outperform” rating and set a $420.00 price objective for the company in a report on Wednesday, January 8th. Three research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Corpay currently has an average rating of “Moderate Buy” and a consensus target price of $381.43.

Corpay Stock Up 0.2 %

CPAY opened at $370.91 on Thursday. Corpay has a fifty-two week low of $247.10 and a fifty-two week high of $385.30. The company has a market capitalization of $25.86 billion, a P/E ratio of 26.46, 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 current ratio of 1.05 and a quick ratio of 1.05. The firm’s fifty day moving average price is $359.85 and its two-hundred day moving average price is $325.13.

Insider Buying and Selling

In related news, CAO Alissa B. Vickery sold 8,000 shares of the business’s stock in a transaction on 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 sale, the chief accounting officer now directly owns 1,797 shares of the company’s stock, valued at approximately $664,961.88. The trade was a 81.66 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, 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 value of $1,116,160.50. Following the transaction, the director now owns 10,530 shares of the company’s stock, valued at approximately $3,950,645.40. This trade represents a 22.03 % decrease in their position. The disclosure for this sale can be found here. 6.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Corpay

Several hedge funds have recently made changes to their positions in the business. SG Americas Securities LLC lifted its position in Corpay by 90.3% during the 4th quarter. SG Americas Securities LLC now owns 3,458 shares of the company’s stock worth $1,170,000 after buying an additional 1,641 shares in the last quarter. Advisory Alpha LLC raised its holdings in Corpay by 8.9% during the fourth quarter. Advisory Alpha LLC now owns 1,823 shares of the company’s stock worth $617,000 after acquiring an additional 149 shares in the last quarter. Dakota Wealth Management acquired a new position in Corpay during the fourth quarter valued at approximately $228,000. Nisa Investment Advisors LLC boosted its position in Corpay by 68.4% during the fourth quarter. Nisa Investment Advisors LLC now owns 3,966 shares of the company’s stock valued at $1,342,000 after purchasing an additional 1,611 shares during the last quarter. Finally, Crossmark Global Holdings Inc. grew its stake in Corpay by 70.3% in the fourth quarter. Crossmark Global Holdings Inc. now owns 4,989 shares of the company’s stock valued at $1,689,000 after purchasing an additional 2,059 shares in the last quarter. 98.84% of the stock is owned by institutional investors.

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.