Camden National Bank Buys New Stake in Corpay, Inc. (NYSE:CPAY)

Camden National Bank purchased a new position in shares of Corpay, Inc. (NYSE:CPAY) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 757 shares of the company’s stock, valued at approximately $237,000.

Other institutional investors have also modified their holdings of the company. Albion Financial Group UT acquired a new stake in Corpay during the third quarter worth about $27,000. LGT Financial Advisors LLC purchased a new stake in Corpay in the 2nd quarter worth approximately $33,000. Blue Trust Inc. grew its stake in shares of Corpay by 246.2% during the 2nd quarter. Blue Trust Inc. now owns 135 shares of the company’s stock worth $36,000 after purchasing an additional 96 shares during the period. Innealta Capital LLC purchased a new position in shares of Corpay during the 2nd quarter valued at approximately $36,000. Finally, Whittier Trust Co. of Nevada Inc. acquired a new position in shares of Corpay in the 2nd quarter valued at $40,000. Hedge funds and other institutional investors own 98.84% of the company’s stock.

Insider Buying and Selling at Corpay

In other Corpay news, Director Joseph W. Farrelly sold 2,975 shares of Corpay stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $375.18, for a total value of $1,116,160.50. Following the sale, the director now owns 10,530 shares in the company, valued at $3,950,645.40. The trade was a 22.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Alissa B. Vickery sold 8,000 shares of the stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $370.04, for a total value of $2,960,320.00. Following the transaction, the chief accounting officer now owns 1,797 shares of the company’s stock, valued at approximately $664,961.88. This represents a 81.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 6.10% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms recently commented on CPAY. Morgan Stanley lifted their price objective on shares of Corpay from $325.00 to $350.00 and gave the company an “equal weight” rating in a report on Monday, November 11th. Wells Fargo & Company lifted their price target on Corpay from $285.00 to $320.00 and gave the company an “equal weight” rating in a research note on Monday, October 21st. William Blair upgraded Corpay to a “strong-buy” rating in a research report on Thursday, August 8th. Citigroup raised their price objective on Corpay from $405.00 to $430.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Finally, Raymond James reduced their target price on Corpay from $330.00 to $311.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Four investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $363.93.

Corpay Trading Up 1.2 %

Shares of CPAY opened at $379.87 on Friday. Corpay, Inc. has a 12-month low of $230.68 and a 12-month high of $380.00. The firm has a market capitalization of $26.48 billion, a P/E ratio of 27.09, a P/E/G ratio of 1.47 and a beta of 1.21. The firm has a 50-day moving average price of $338.38 and a 200 day moving average price of $301.23. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 1.69.

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.