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

Corpay (NYSE:CPAY) had its target price raised by analysts at Citigroup from $405.00 to $430.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Citigroup’s price target suggests a potential upside of 16.39% from the company’s current price.

Several other brokerages have also recently weighed in on CPAY. Bank of America upped their target price on Corpay from $344.00 to $375.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. Jefferies Financial Group increased their target price on shares of Corpay from $375.00 to $425.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. JPMorgan Chase & Co. upped their price target on shares of Corpay from $327.00 to $353.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 20th. Wolfe Research raised shares of Corpay from an “underperform” rating to a “peer perform” rating in a report on Tuesday, September 3rd. Finally, Wells Fargo & Company upped their target price on Corpay from $285.00 to $320.00 and gave the stock an “equal weight” rating in a report on Monday, October 21st. Four 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 an average rating of “Moderate Buy” and a consensus target price of $363.93.

Corpay Trading Down 0.4 %

Shares of Corpay stock traded down $1.32 on Thursday, hitting $369.45. 133,322 shares of the company traded hands, compared to its average volume of 473,099. 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 company has a market cap of $25.75 billion, a PE ratio of 26.31, a PEG ratio of 1.46 and a beta of 1.21. The stock’s 50 day moving average price is $329.45 and its 200-day moving average price is $297.86. Corpay has a 52 week low of $230.68 and a 52 week high of $375.98.

Hedge Funds Weigh In On Corpay

Hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. acquired a new position in Corpay during the 1st quarter valued at approximately $2,431,089,000. JPMorgan Chase & Co. purchased a new stake in shares of Corpay during the first quarter valued at $1,429,445,000. Price T Rowe Associates Inc. MD acquired a new position in shares of Corpay in the 1st quarter valued at $1,355,377,000. FMR LLC raised its stake in Corpay by 3.0% in the 3rd quarter. FMR LLC now owns 2,692,847 shares of the company’s stock worth $842,215,000 after acquiring an additional 78,880 shares during the last quarter. Finally, Boston Partners acquired a new stake in Corpay during the 1st quarter worth about $553,667,000. 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.