Morgan Stanley Issues Positive Forecast for Corpay (NYSE:CPAY) Stock Price

Corpay (NYSE:CPAY) had its price objective lifted by Morgan Stanley from $325.00 to $350.00 in a research report released on Monday morning,Benzinga reports. They currently have an equal weight rating on the stock.

Several other research analysts also recently commented on CPAY. JPMorgan Chase & Co. boosted their target price on Corpay from $327.00 to $353.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 20th. Wells Fargo & Company increased their price objective on shares of Corpay from $285.00 to $320.00 and gave the company an “equal weight” rating in a research note on Monday, October 21st. Jefferies Financial Group boosted their target price on shares of Corpay from $375.00 to $425.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Barclays increased their price target on Corpay from $385.00 to $415.00 and gave the company an “overweight” rating in a research note on Monday, October 28th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $310.00 target price on shares of Corpay in a report on Thursday, August 8th. Four research 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. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $363.93.

Corpay Trading Down 0.1 %

Shares of CPAY opened at $370.39 on Monday. The company has a debt-to-equity ratio of 1.69, a quick ratio of 1.02 and a current ratio of 1.05. Corpay has a 52-week low of $230.68 and a 52-week high of $375.98. The firm has a market cap of $25.82 billion, a price-to-earnings ratio of 26.42, a PEG ratio of 1.46 and a beta of 1.21. The business’s fifty day moving average is $329.45 and its 200-day moving average is $297.86.

Insider Buying and Selling

In related news, Director Joseph W. Farrelly sold 2,975 shares of the business’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $375.18, for a total value of $1,116,160.50. Following the transaction, the director now owns 10,530 shares in the company, valued at $3,950,645.40. The trade was a 22.03 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 6.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in CPAY. Whittier Trust Co. of Nevada Inc. grew its stake in Corpay by 22.7% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 184 shares of the company’s stock worth $58,000 after purchasing an additional 34 shares during the period. Mather Group LLC. boosted 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 buying an additional 35 shares in the last quarter. Epic Trust Investment Advisors LLC grew its position 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 buying an additional 39 shares during the period. Huntington National Bank increased its stake in shares of Corpay by 43.0% in the 3rd quarter. Huntington National Bank now owns 133 shares of the company’s stock valued at $42,000 after acquiring an additional 40 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV lifted its position 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 valued at $64,000 after acquiring an additional 43 shares during the period. 98.84% of the stock is owned by institutional investors.

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.