Citigroup Forecasts Strong Price Appreciation for Corpay (NYSE:CPAY) Stock

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

Other equities analysts have also issued reports about the company. Keefe, Bruyette & Woods raised their price target on Corpay from $380.00 to $400.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. BMO Capital Markets raised their price target on Corpay from $350.00 to $390.00 and gave the stock an “outperform” rating in a report on Thursday, October 3rd. Barclays raised their price target on Corpay from $385.00 to $415.00 and gave the stock an “overweight” rating in a report on Monday, October 28th. William Blair raised Corpay to a “strong-buy” rating in a report on Thursday, August 8th. Finally, Wells Fargo & Company lifted their price objective 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 analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $363.93.

Corpay Stock Performance

Shares of Corpay stock traded down $6.00 during trading hours on Thursday, reaching $364.28. The company had a trading volume of 213,838 shares, compared to its average volume of 473,157. Corpay has a one year low of $230.68 and a one year high of $375.98. The business has a fifty day simple moving average of $330.77 and a 200 day simple moving average of $298.37. The company has a debt-to-equity ratio of 1.69, a current ratio of 1.05 and a quick ratio of 1.02. The firm has a market cap of $25.39 billion, a PE ratio of 26.42, a price-to-earnings-growth ratio of 1.44 and a beta of 1.21.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of CPAY. Albion Financial Group UT purchased a new position in shares of Corpay in the third quarter worth about $27,000. Headlands Technologies LLC purchased a new position in Corpay during the 1st quarter valued at about $31,000. LGT Financial Advisors LLC purchased a new position in Corpay during the 2nd quarter valued at about $33,000. Blue Trust Inc. increased its holdings in Corpay by 246.2% during the 2nd quarter. Blue Trust Inc. now owns 135 shares of the company’s stock valued at $36,000 after purchasing an additional 96 shares during the period. Finally, Innealta Capital LLC purchased a new position in Corpay during the 2nd quarter valued at about $36,000. Hedge funds and other 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.