Camden National Bank Acquires 45 Shares of Corpay, Inc. (NYSE:CPAY)

Camden National Bank grew its holdings in Corpay, Inc. (NYSE:CPAY) by 5.9% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 802 shares of the company’s stock after purchasing an additional 45 shares during the quarter. Camden National Bank’s holdings in Corpay were worth $271,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Exchange Traded Concepts LLC grew its position in shares of Corpay by 16.6% in 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 position in shares of Corpay by 0.7% in 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. IFP Advisors Inc grew its position in shares of Corpay by 2.7% in the 4th quarter. IFP Advisors Inc now owns 1,151 shares of the company’s stock worth $390,000 after buying an additional 30 shares during the last quarter. Oregon Public Employees Retirement Fund grew its position in shares of Corpay by 0.5% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 5,963 shares of the company’s stock worth $2,018,000 after buying an additional 30 shares during the last quarter. Finally, Lake Street Advisors Group LLC grew its position in shares of Corpay by 3.5% in the 4th quarter. Lake Street Advisors Group LLC now owns 939 shares of the company’s stock worth $318,000 after buying an additional 32 shares during the last quarter. Institutional investors own 98.84% of the company’s stock.

Corpay Stock Performance

CPAY opened at $335.78 on Friday. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.00 and a quick ratio of 1.05. The firm has a fifty day moving average price of $365.56 and a 200 day moving average price of $347.36. Corpay, Inc. has a 1 year low of $247.10 and a 1 year high of $400.81. The stock has a market cap of $23.59 billion, a P/E ratio of 24.02, a P/E/G ratio of 1.32 and a beta of 1.25.

Corpay (NYSE:CPAY) last posted its earnings results on Wednesday, February 5th. The company reported $4.96 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.37 by ($0.41). Corpay had a net margin of 25.25% and a return on equity of 41.46%. Equities research analysts anticipate that Corpay, Inc. will post 19.76 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. BMO Capital Markets lifted their price objective on shares of Corpay from $400.00 to $440.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Wells Fargo & Company lifted their price objective on shares of Corpay from $340.00 to $375.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 16th. Royal Bank of Canada lifted their price objective on shares of Corpay from $354.00 to $400.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 6th. Keefe, Bruyette & Woods boosted their target price on shares of Corpay from $415.00 to $445.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. Finally, Raymond James dropped their target price on shares of Corpay from $434.00 to $417.00 and set an “outperform” rating on the stock in a research report on Thursday, February 6th. Three investment 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. According to data from MarketBeat, Corpay has a consensus rating of “Moderate Buy” and an average price target of $399.71.

Insiders Place Their Bets

In other Corpay 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 transaction of $910,683.21. Following the completion of the transaction, the director now directly owns 12,215 shares in the company, valued at approximately $4,583,434.45. This represents a 16.58 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 6.10% of the stock is currently owned by company insiders.

Corpay 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.