Corpay (NYSE:CPAY) Stock Price Expected to Rise, Morgan Stanley Analyst Says

Corpay (NYSE:CPAY) had its price objective increased by equities research analysts at Morgan Stanley from $325.00 to $350.00 in a report issued on Monday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Morgan Stanley’s price objective indicates a potential downside of 6.50% from the stock’s previous close.

Other analysts have also issued research reports about the stock. JPMorgan Chase & Co. lifted their target price on shares of Corpay from $327.00 to $353.00 and gave the company an “overweight” rating in a research report on Tuesday, August 20th. Keefe, Bruyette & Woods boosted their price target on shares of Corpay from $380.00 to $400.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. William Blair upgraded shares of Corpay to a “strong-buy” rating in a research report on Thursday, August 8th. Barclays boosted their price target on shares of Corpay from $385.00 to $415.00 and gave the stock an “overweight” rating in a research report on Monday, October 28th. Finally, BMO Capital Markets boosted their target price on shares of Corpay from $350.00 to $390.00 and gave the company an “outperform” rating in a report on Thursday, October 3rd. Four investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Corpay has a consensus rating of “Moderate Buy” and a consensus price target of $358.57.

Corpay Stock Up 0.3 %

Shares of NYSE CPAY opened at $374.35 on Monday. The company’s 50-day simple moving average is $327.08 and its 200-day simple moving average is $296.85. Corpay has a 52-week low of $228.51 and a 52-week high of $375.35. The firm has a market cap of $25.99 billion, a price-to-earnings ratio of 26.70, a price-to-earnings-growth ratio of 1.45 and a beta of 1.21. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 1.74.

Institutional Investors Weigh In On Corpay

A number of institutional investors and hedge funds have recently made changes to their positions in CPAY. Vanguard Group Inc. purchased a new stake in shares of Corpay in the 1st quarter valued at approximately $2,431,089,000. JPMorgan Chase & Co. purchased a new stake in shares of Corpay in the 1st quarter valued at approximately $1,429,445,000. Price T Rowe Associates Inc. MD purchased a new stake in Corpay during the 1st quarter worth approximately $1,355,377,000. Boston Partners purchased a new stake in Corpay during the 1st quarter worth approximately $553,667,000. Finally, Third Point LLC purchased a new stake in Corpay during the 1st quarter worth approximately $200,551,000. 98.84% of the stock is owned by hedge funds and other 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.