Citigroup initiated coverage on shares of Corpay (NYSE:CPAY – Free Report) in a research report sent to investors on Tuesday morning. The brokerage issued a buy rating and a $430.00 price objective on the stock.
CPAY has been the topic of a number of other research reports. Keefe, Bruyette & Woods dropped 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. BMO Capital Markets raised their target price on shares of Corpay from $400.00 to $440.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Jefferies Financial Group upped their price target on shares of Corpay from $375.00 to $425.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Bank of America increased their price objective on shares of Corpay from $344.00 to $375.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. Finally, Wells Fargo & Company boosted their price objective on shares of Corpay from $285.00 to $320.00 and gave the stock an “equal weight” rating in a research note on Monday, October 21st. Three research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Corpay currently has an average rating of “Moderate Buy” and a consensus target price of $377.50.
Read Our Latest Research Report on CPAY
Corpay Stock Up 1.7 %
Insider Transactions 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 in the company, valued at approximately $664,961.88. The trade was a 81.66 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Joseph W. Farrelly sold 2,975 shares of the company’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 completion of the transaction, the director now directly owns 10,530 shares in the company, valued at approximately $3,950,645.40. The trade was a 22.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 6.10% of the company’s stock.
Institutional Investors Weigh In On Corpay
Institutional investors and hedge funds have recently modified their holdings of the company. Tealwood Asset Management Inc. raised its position in 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 buying an additional 30 shares during the last quarter. Whittier Trust Co. of Nevada Inc. increased its stake in shares of Corpay by 22.7% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 184 shares of the company’s stock worth $58,000 after acquiring an additional 34 shares during the period. Mather Group LLC. increased its stake in shares of Corpay by 21.2% in the third quarter. Mather Group LLC. now owns 200 shares of the company’s stock worth $63,000 after acquiring an additional 35 shares during the period. Huntington National Bank lifted its position in Corpay by 43.0% during the third quarter. Huntington National Bank now owns 133 shares of the company’s stock valued at $42,000 after purchasing an additional 40 shares during the period. Finally, Empirical Finance LLC lifted its position in Corpay by 1.8% during the third quarter. Empirical Finance LLC now owns 2,493 shares of the company’s stock valued at $780,000 after purchasing an additional 43 shares during the period. Institutional investors and hedge funds 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.
Recommended Stories
- Five stocks we like better than Corpay
- Basic Materials Stocks Investing
- The Fed Is More Likely to Hike Than Cut Rates in 2025
- What is the S&P 500 and How It is Distinct from Other Indexes
- Investors Navigate Uncertainty by Seeking Refuge in Gold and Oil
- What is Insider Trading? What You Can Learn from Insider Trading
- Archer Aviation Shares Slide, Now Bargain Priced for 2025
Receive News & Ratings for Corpay Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Corpay and related companies with MarketBeat.com's FREE daily email newsletter.