Camden National Bank Invests $237,000 in Corpay, Inc. (NYSE:CPAY)

Camden National Bank acquired a new stake in shares of Corpay, Inc. (NYSE:CPAY) in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 757 shares of the company’s stock, valued at approximately $237,000.

Several other hedge funds also recently bought and sold shares of CPAY. Boston Partners purchased a new stake in shares of Corpay during the first quarter valued at $553,667,000. American Century Companies Inc. grew its stake in Corpay by 1,734.1% in the 2nd quarter. American Century Companies Inc. now owns 400,662 shares of the company’s stock worth $106,740,000 after acquiring an additional 378,817 shares in the last quarter. TD Asset Management Inc purchased a new position in shares of Corpay during the second quarter worth approximately $41,475,000. Assenagon Asset Management S.A. bought a new stake in shares of Corpay during the second quarter valued at approximately $35,655,000. Finally, International Assets Investment Management LLC bought a new stake in shares of Corpay during the third quarter valued at approximately $40,497,000. Institutional investors own 98.84% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on the company. Barclays raised their price objective on Corpay from $385.00 to $415.00 and gave the stock an “overweight” rating in a report on Monday, October 28th. Wolfe Research upgraded Corpay from an “underperform” rating to a “peer perform” rating in a report on Tuesday, September 3rd. Bank of America upped their price objective on shares of Corpay from $344.00 to $375.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. Keefe, Bruyette & Woods raised their target price on shares of Corpay from $380.00 to $400.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Finally, Wells Fargo & Company upped their price target on shares of Corpay from $285.00 to $320.00 and gave the stock an “equal weight” rating in a research report on Monday, October 21st. Four research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $363.93.

Insiders Place Their Bets

In related news, Director Joseph W. Farrelly sold 2,975 shares of the firm’s 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 completion of the transaction, the director now owns 10,530 shares in the company, valued at $3,950,645.40. This trade represents a 22.03 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Alissa B. Vickery sold 8,000 shares of the business’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $370.04, for a total value of $2,960,320.00. Following the sale, the chief accounting officer now owns 1,797 shares in the company, valued at approximately $664,961.88. The trade was a 81.66 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 6.10% of the company’s stock.

Corpay Stock Up 1.2 %

Shares of CPAY stock opened at $379.87 on Friday. The stock’s fifty day moving average price is $338.38 and its 200 day moving average price is $301.23. Corpay, Inc. has a 1-year low of $230.68 and a 1-year high of $380.00. The company has a market cap of $26.48 billion, a price-to-earnings ratio of 27.09, a price-to-earnings-growth ratio of 1.47 and a beta of 1.21. The company has a debt-to-equity ratio of 1.69, a current ratio of 1.05 and a quick ratio of 1.05.

About Corpay

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.