Citigroup Raises Corpay (NYSE:CPAY) Price Target to $355.00

Corpay (NYSE:CPAY) had its price objective lifted by stock analysts at Citigroup from $325.00 to $355.00 in a report released on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Citigroup’s price target points to a potential upside of 19.20% from the company’s current price.

Other equities analysts also recently issued reports about the stock. Barclays upped their target price on shares of Corpay from $340.00 to $355.00 and gave the stock an “overweight” rating in a research note on Tuesday. Robert W. Baird upped their price target on shares of Corpay from $355.00 to $376.00 and gave the stock an “outperform” rating in a research report on Thursday, April 4th. Finally, Jefferies Financial Group upped their price target on shares of Corpay from $340.00 to $355.00 and gave the stock a “buy” rating in a research report on Friday, April 12th.

Corpay Price Performance

CPAY stock traded down $0.91 during mid-day trading on Wednesday, reaching $297.82. The company had a trading volume of 269,060 shares, compared to its average volume of 444,614. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.04 and a quick ratio of 1.04. The company has a market capitalization of $21.50 billion, a P/E ratio of 22.51, a P/E/G ratio of 1.13 and a beta of 1.23. Corpay has a 12 month low of $204.04 and a 12 month high of $319.94.

Institutional Investors Weigh In On Corpay

A number of hedge funds and other institutional investors have recently bought and sold shares of CPAY. Los Angeles Capital Management LLC purchased a new stake in Corpay during the first quarter valued at approximately $33,840,000. GAMMA Investing LLC purchased a new stake in Corpay during the first quarter valued at approximately $149,000. Pensionfund Sabic purchased a new stake in Corpay during the first quarter valued at approximately $1,327,000. Beese Fulmer Investment Management Inc. purchased a new stake in Corpay during the first quarter valued at approximately $1,398,000. Finally, Massmutual Trust Co. FSB ADV purchased a new stake in Corpay during the first quarter valued at approximately $61,000. Hedge funds and other institutional investors own 98.84% of the company’s stock.

Corpay Company Profile

FLEETCOR Technologies, Inc is a global commercial payments solution provider. Through its portfolio of brands, FLEETCOR helps companies automate, secure, digitize and control payments to, or on behalf of, their employees and suppliers. FLEETCOR serves businesses, partners and merchants in North America, Latin America, Europe, and Asia Pacific.