Corpay (NYSE:CPAY) Price Target Lowered to $400.00 at Barclays

Corpay (NYSE:CPAY - Get Free Report) had its price objective lowered by Barclays from $440.00 to $400.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. Barclays's target price indicates a potential upside of 29.70% from the stock's previous close.

A number of other equities research analysts have also recently commented on the company. Morgan Stanley lifted their target price on Corpay from $350.00 to $380.00 and gave the stock an "equal weight" rating in a research note on Thursday, February 6th. Wolfe Research raised shares of Corpay from a "peer perform" rating to an "outperform" rating and set a $420.00 price objective for the company in a research note on Wednesday, January 8th. Wells Fargo & Company boosted their price objective on Corpay from $340.00 to $375.00 and gave the stock an "equal weight" rating in a report on Thursday, January 16th. Keefe, Bruyette & Woods raised their price objective on Corpay from $415.00 to $445.00 and gave the company an "outperform" rating in a report on Thursday, February 6th. Finally, Citigroup started coverage on Corpay in a research note on Tuesday, January 14th. They issued a "buy" rating and a $430.00 price target on the stock. Three 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 stock. According to MarketBeat.com, Corpay currently has a consensus rating of "Moderate Buy" and an average target price of $400.38.

Corpay Price Performance

Shares of Corpay stock traded up $1.62 on Monday, reaching $308.39. 353,820 shares of the stock were exchanged, compared to its average volume of 483,383. The firm's 50 day moving average is $341.13 and its 200-day moving average is $351.68. The firm has a market cap of $21.66 billion, a PE ratio of 22.06, a P/E/G ratio of 1.32 and a beta of 1.11. Corpay has a one year low of $247.10 and a one year high of $400.81. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.05 and a current ratio of 1.00.

Corpay (NYSE:CPAY - Get Free Report) last issued its quarterly earnings data on Wednesday, February 5th. The company reported $4.96 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $5.37 by ($0.41). Corpay had a return on equity of 41.46% and a net margin of 25.25%. As a group, analysts anticipate that Corpay will post 19.76 EPS for the current fiscal year.

Insider Activity at Corpay

In other news, Director Richard Macchia sold 2,427 shares of the company's stock in a transaction on Monday, February 10th. The shares were sold at an average price of $375.23, for a total value of $910,683.21. Following the sale, the director now directly owns 12,215 shares of the company's stock, valued at $4,583,434.45. This represents a 16.58 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 6.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Corpay

A number of institutional investors have recently added to or reduced their stakes in CPAY. Exchange Traded Concepts LLC increased its holdings in shares of Corpay by 16.6% during the 4th quarter. Exchange Traded Concepts LLC now owns 204 shares of the company's stock worth $69,000 after buying an additional 29 shares during the last quarter. Tealwood Asset Management Inc. grew its holdings in shares of Corpay by 0.7% during the 4th quarter. Tealwood Asset Management Inc. now owns 4,197 shares of the company's stock worth $1,420,000 after purchasing an additional 30 shares during the period. Oregon Public Employees Retirement Fund increased its position in shares of Corpay by 0.5% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 5,963 shares of the company's stock worth $2,018,000 after purchasing an additional 30 shares during the last quarter. IFP Advisors Inc raised its holdings in Corpay by 2.7% in the 4th quarter. IFP Advisors Inc now owns 1,151 shares of the company's stock valued at $390,000 after buying an additional 30 shares during the period. Finally, Lake Street Advisors Group LLC lifted its position in Corpay by 3.5% in the fourth quarter. Lake Street Advisors Group LLC now owns 939 shares of the company's stock valued at $318,000 after buying an additional 32 shares during the last quarter. Institutional investors and hedge funds own 98.84% of the company's stock.

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.