Corpay (NYSE:CPAY) Price Target Raised to $430.00 at Citigroup

Corpay (NYSE:CPAY) had its target price raised by Citigroup from $405.00 to $430.00 in a research report sent to investors on Thursday morning,Benzinga reports. Citigroup currently has a buy rating on the stock.

CPAY has been the topic of a number of other research reports. Wolfe Research raised Corpay from an “underperform” rating to a “peer perform” rating in a research report on Tuesday, September 3rd. Jefferies Financial Group lifted their target price on Corpay from $375.00 to $425.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Barclays boosted their target price on Corpay from $385.00 to $415.00 and gave the company an “overweight” rating in a research note on Monday, October 28th. BMO Capital Markets boosted their target price on Corpay from $350.00 to $390.00 and gave the company an “outperform” rating in a research note on Thursday, October 3rd. Finally, Wells Fargo & Company boosted their target price on Corpay from $285.00 to $320.00 and gave the company an “equal weight” rating in a research note on Monday, October 21st. Four equities research 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 MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $363.93.

Corpay Price Performance

Shares of CPAY opened at $363.36 on Thursday. The stock has a market cap of $25.33 billion, a P/E ratio of 25.92, a price-to-earnings-growth ratio of 1.42 and a beta of 1.21. The company has a current ratio of 1.05, a quick ratio of 1.02 and a debt-to-equity ratio of 1.69. The stock’s 50-day moving average price is $331.97 and its two-hundred day moving average price is $298.77. Corpay has a 1 year low of $230.68 and a 1 year high of $375.98.

Insider Transactions at Corpay

In other news, Director Joseph W. Farrelly sold 2,975 shares of the company’s stock in a transaction that occurred 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 sale, the director now owns 10,530 shares in the company, valued at $3,950,645.40. This represents a 22.03 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 6.10% of the company’s stock.

Institutional Investors Weigh In On Corpay

Institutional investors and hedge funds have recently made changes to their positions in the stock. Whittier Trust Co. of Nevada Inc. increased its holdings in shares of Corpay by 22.7% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 184 shares of the company’s stock worth $58,000 after acquiring an additional 34 shares during the last quarter. Mather Group LLC. increased its holdings in shares of Corpay by 21.2% during the 3rd quarter. Mather Group LLC. now owns 200 shares of the company’s stock worth $63,000 after acquiring an additional 35 shares during the last quarter. Epic Trust Investment Advisors LLC increased its holdings in shares of Corpay by 4.1% during the 2nd quarter. Epic Trust Investment Advisors LLC now owns 998 shares of the company’s stock worth $266,000 after acquiring an additional 39 shares during the last quarter. Huntington National Bank increased its holdings in shares of Corpay by 43.0% during the 3rd quarter. Huntington National Bank now owns 133 shares of the company’s stock worth $42,000 after acquiring an additional 40 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV increased its holdings in shares of Corpay by 21.6% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 242 shares of the company’s stock worth $64,000 after acquiring an additional 43 shares during the last quarter. Institutional investors 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.