Camden National Bank Grows Position in Corpay, Inc. (NYSE:CPAY)

Camden National Bank raised its holdings in shares of Corpay, Inc. (NYSE:CPAY) by 5.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 802 shares of the company’s stock after buying an additional 45 shares during the quarter. Camden National Bank’s holdings in Corpay were worth $271,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. JPMorgan Chase & Co. grew its holdings in shares of Corpay by 2.3% in the third quarter. JPMorgan Chase & Co. now owns 5,287,311 shares of the company’s stock valued at $1,653,659,000 after purchasing an additional 120,578 shares during the period. FMR LLC grew its holdings in shares of Corpay by 3.0% in the third quarter. FMR LLC now owns 2,692,847 shares of the company’s stock valued at $842,215,000 after purchasing an additional 78,880 shares during the period. Geode Capital Management LLC grew its holdings in shares of Corpay by 1.4% in the third quarter. Geode Capital Management LLC now owns 1,677,899 shares of the company’s stock valued at $523,061,000 after purchasing an additional 23,275 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of Corpay by 3.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 475,458 shares of the company’s stock valued at $160,904,000 after purchasing an additional 16,981 shares during the period. Finally, Raymond James Financial Inc. purchased a new stake in shares of Corpay in the fourth quarter valued at about $134,950,000. Hedge funds and other institutional investors own 98.84% of the company’s stock.

Corpay Stock Down 2.0 %

CPAY stock opened at $335.78 on Friday. The company has a current ratio of 1.00, a quick ratio of 1.05 and a debt-to-equity ratio of 1.66. Corpay, Inc. has a twelve month low of $247.10 and a twelve month high of $400.81. The company’s 50 day moving average is $365.56 and its two-hundred day moving average is $347.36. The stock has a market cap of $23.59 billion, a P/E ratio of 24.02, a PEG ratio of 1.32 and a beta of 1.25.

Corpay (NYSE:CPAY) last released its quarterly earnings data on Wednesday, February 5th. The company reported $4.96 earnings per share for the quarter, missing analysts’ consensus estimates of $5.37 by ($0.41). Corpay had a return on equity of 41.46% and a net margin of 25.25%. Research analysts expect that Corpay, Inc. will post 19.76 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Royal Bank of Canada upped their price objective on shares of Corpay from $354.00 to $400.00 and gave the company a “sector perform” rating in a report on Thursday, February 6th. Citigroup began coverage on shares of Corpay in a report on Tuesday, January 14th. They issued a “buy” rating and a $430.00 price objective for the company. Keefe, Bruyette & Woods increased their target price on shares of Corpay from $415.00 to $445.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. Raymond James lowered their target price on shares of Corpay from $434.00 to $417.00 and set an “outperform” rating for the company in a research note on Thursday, February 6th. Finally, Morgan Stanley increased their target price on shares of Corpay from $350.00 to $380.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 6th. Three analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Corpay presently has a consensus rating of “Moderate Buy” and a consensus target price of $399.71.

Insider Activity

In other news, Director Richard Macchia sold 2,427 shares of Corpay stock in a transaction on Monday, February 10th. The shares were sold at an average price of $375.23, for a total value of $910,683.21. Following the transaction, the director now directly owns 12,215 shares of the company’s stock, valued at $4,583,434.45. The trade was a 16.58 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 6.10% of the company’s stock.

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.