Corpay (NYSE:CPAY) Given New $400.00 Price Target at Royal Bank of Canada

Corpay (NYSE:CPAY) had its target price hoisted by investment analysts at Royal Bank of Canada from $354.00 to $400.00 in a research report issued on Thursday,Benzinga reports. The firm presently has a “sector perform” rating on the stock. Royal Bank of Canada’s price objective would indicate a potential upside of 1.74% from the company’s current price.

A number of other research analysts have also commented on the company. BMO Capital Markets raised their price target on Corpay from $400.00 to $440.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Jefferies Financial Group lifted their target price on Corpay from $375.00 to $425.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Keefe, Bruyette & Woods lifted their target price on Corpay from $415.00 to $445.00 and gave the stock an “outperform” rating in a report on Thursday. Barclays lifted their target price 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 lifted their target price on Corpay from $350.00 to $380.00 and gave the stock an “equal weight” rating in a report on Thursday. Three investment 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. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $392.14.

Corpay Stock Performance

CPAY stock traded up $4.48 during mid-day trading on Thursday, reaching $393.15. The company had a trading volume of 559,549 shares, compared to its average volume of 433,598. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 1.69. The stock has a market capitalization of $27.41 billion, a P/E ratio of 28.04, a P/E/G ratio of 1.30 and a beta of 1.28. Corpay has a one year low of $247.10 and a one year high of $400.81. The stock’s 50-day simple moving average is $361.54 and its two-hundred day simple moving average is $335.21.

Corpay (NYSE:CPAY) last posted its earnings results on Wednesday, February 5th. The company reported $4.96 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.37 by ($0.41). Corpay had a net margin of 26.14% and a return on equity of 39.44%. Research analysts anticipate that Corpay will post 17.84 EPS for the current year.

Insiders Place Their Bets

In other Corpay news, CAO Alissa B. Vickery sold 8,000 shares of Corpay stock in a transaction that occurred 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 transaction, the chief accounting officer now directly owns 1,797 shares of the company’s stock, valued at $664,961.88. The trade was a 81.66 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Joseph W. Farrelly sold 2,975 shares of Corpay stock in a transaction that occurred 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 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 disclosure for this sale can be found here. Corporate insiders own 6.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Albion Financial Group UT bought a new stake in shares of Corpay during the third quarter valued at approximately $27,000. Avion Wealth increased its position in shares of Corpay by 1,011.1% during the fourth quarter. Avion Wealth now owns 100 shares of the company’s stock valued at $33,000 after purchasing an additional 91 shares during the period. Versant Capital Management Inc increased its position in shares of Corpay by 130.4% during the fourth quarter. Versant Capital Management Inc now owns 106 shares of the company’s stock valued at $36,000 after purchasing an additional 60 shares during the period. Huntington National Bank increased its position in shares of Corpay by 43.0% during the third quarter. Huntington National Bank now owns 133 shares of the company’s stock valued at $42,000 after purchasing an additional 40 shares during the period. Finally, Quarry LP bought a new stake in shares of Corpay during the third quarter valued at approximately $42,000. 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.