Barclays Boosts Corpay (NYSE:CPAY) Price Target to $355.00

Corpay (NYSE:CPAY) had its price target upped by Barclays from $340.00 to $355.00 in a report released on Tuesday morning, Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other analysts have also recently issued reports on the stock. Robert W. Baird boosted their price objective on shares of Corpay from $355.00 to $376.00 and gave the company an outperform rating in a research note on Thursday, April 4th. Jefferies Financial Group upped their price target on Corpay from $340.00 to $355.00 and gave the stock a buy rating in a research note on Friday, April 12th.

Corpay Stock Performance

Corpay stock opened at $298.73 on Tuesday. Corpay has a 1 year low of $204.04 and a 1 year high of $319.94. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 1.40. The company has a market capitalization of $21.57 billion, a P/E ratio of 22.63, a P/E/G ratio of 1.14 and a beta of 1.23.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Wedmont Private Capital acquired a new stake in shares of Corpay in the first quarter valued at about $242,000. Massmutual Trust Co. FSB ADV acquired a new position in shares of Corpay during the first quarter worth $61,000. Douglas Lane & Associates LLC purchased a new position in shares of Corpay in the first quarter valued at $5,304,000. Czech National Bank purchased a new position in shares of Corpay in the first quarter valued at $3,920,000. Finally, Peak Financial Advisors LLC purchased a new stake in Corpay during the 1st quarter worth $3,119,000. 98.84% of the stock is owned by hedge funds and other institutional investors.

About Corpay

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.