Corpay (NYSE:CPAY) Price Target Raised to $380.00 at Morgan Stanley

Corpay (NYSE:CPAY) had its price target increased by equities researchers at Morgan Stanley from $350.00 to $380.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Morgan Stanley’s target price points to a potential downside of 2.25% from the company’s current price.

Several other analysts also recently issued reports on the stock. Citigroup began coverage on shares of Corpay in a research report on Tuesday, January 14th. They issued a “buy” rating and a $430.00 price target for the company. Bank of America lifted their price objective on shares of Corpay from $344.00 to $375.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. Wolfe Research raised shares of Corpay from a “peer perform” rating to an “outperform” rating and set a $420.00 price target on the stock in a research report on Wednesday, January 8th. Keefe, Bruyette & Woods cut their price target on Corpay from $425.00 to $415.00 and set an “outperform” rating for the company in a research note on Monday, January 6th. Finally, Wells Fargo & Company increased their price objective on Corpay from $340.00 to $375.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 16th. 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’s stock. Based on data from MarketBeat.com, Corpay currently has an average rating of “Moderate Buy” and an average price target of $383.57.

Corpay Price Performance

CPAY stock opened at $388.76 on Thursday. 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 company’s 50-day moving average is $361.54 and its 200-day moving average is $335.21. The stock has a market capitalization of $27.10 billion, a PE ratio of 27.73, a price-to-earnings-growth ratio of 1.30 and a beta of 1.28. Corpay has a 1 year low of $247.10 and a 1 year high of $391.10.

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

Insider Buying and Selling at Corpay

In other Corpay news, Director Joseph W. Farrelly sold 2,975 shares of the stock in a transaction on 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 completion of the transaction, the director now directly owns 10,530 shares of the company’s stock, valued at approximately $3,950,645.40. This represents a 22.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Alissa B. Vickery sold 8,000 shares of the firm’s 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 completion of 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 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 and hedge funds have recently made changes to their positions in the company. Swedbank AB raised its holdings in Corpay by 46.3% during the 3rd quarter. Swedbank AB now owns 186,117 shares of the company’s stock valued at $58,210,000 after acquiring an additional 58,900 shares during the period. Oppenheimer Asset Management Inc. grew its position in shares of Corpay by 66.7% in the third quarter. Oppenheimer Asset Management Inc. now owns 5,888 shares of the company’s stock valued at $1,842,000 after purchasing an additional 2,355 shares in the last quarter. Retireful LLC bought a new stake in shares of Corpay during the 3rd quarter valued at $702,000. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in Corpay during the 3rd quarter worth about $527,000. Finally, Banco Santander S.A. bought a new position in Corpay in the 3rd quarter worth about $668,000. Institutional investors 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.