Corpay (NYSE:CPAY) Coverage Initiated by Analysts at Citigroup

Citigroup assumed coverage on shares of Corpay (NYSE:CPAY) in a research note issued on Tuesday. The firm set a “buy” rating and a $430.00 price target on the stock. Citigroup’s price objective would suggest a potential upside of 20.05% from the stock’s current price.

A number of other research firms also recently issued reports on CPAY. Wolfe Research raised Corpay from a “peer perform” rating to an “outperform” rating and set a $420.00 target price on the stock in a research report on Wednesday, January 8th. Bank of America lifted their target price on Corpay from $344.00 to $375.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. Barclays boosted their price target on Corpay from $385.00 to $415.00 and gave the stock an “overweight” rating in a research report on Monday, October 28th. BMO Capital Markets boosted their price target on Corpay from $400.00 to $440.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Finally, Keefe, Bruyette & Woods lowered their price target on Corpay from $425.00 to $415.00 and set an “outperform” rating on the stock in a research report on Monday, January 6th. Three investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Corpay presently has a consensus rating of “Moderate Buy” and a consensus price target of $377.50.

Corpay Stock Up 1.7 %

Shares of Corpay stock traded up $5.94 during trading on Tuesday, reaching $358.17. The stock had a trading volume of 46,225 shares, compared to its average volume of 440,783. The company has a market capitalization of $24.97 billion, a price-to-earnings ratio of 25.55, a P/E/G ratio of 1.40 and a beta of 1.26. The stock has a fifty day moving average price of $358.56 and a two-hundred day moving average price of $323.91. Corpay has a 52 week low of $247.10 and a 52 week high of $385.30. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 1.69.

Insider Activity at Corpay

In other news, CAO Alissa B. Vickery sold 8,000 shares of Corpay stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $370.04, for a total transaction 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 approximately $664,961.88. The trade was a 81.66 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Joseph W. Farrelly sold 2,975 shares of Corpay 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 sale, the director now directly owns 10,530 shares of the company’s stock, valued at $3,950,645.40. This represents a 22.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 6.10% of the stock is owned by company insiders.

Institutional Trading of Corpay

A number of hedge funds have recently made changes to their positions in the stock. Park Avenue Securities LLC lifted its holdings in shares of Corpay by 13.4% during the 4th quarter. Park Avenue Securities LLC now owns 1,648 shares of the company’s stock worth $558,000 after acquiring an additional 195 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of Corpay by 132.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 69,659 shares of the company’s stock worth $23,574,000 after acquiring an additional 39,715 shares during the last quarter. Board of the Pension Protection Fund bought a new stake in Corpay in the fourth quarter worth $68,000. Fifth Third Wealth Advisors LLC bought a new stake in Corpay in the fourth quarter worth $220,000. Finally, Oak Thistle LLC bought a new stake in Corpay in the fourth quarter worth $302,000. 98.84% of the stock is owned by 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.