Kornitzer Capital Management Inc. KS Acquires 8,270 Shares of Corpay, Inc. (NYSE:CPAY)

Kornitzer Capital Management Inc. KS grew its holdings in shares of Corpay, Inc. (NYSE:CPAY) by 28.7% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 37,057 shares of the company’s stock after buying an additional 8,270 shares during the period. Kornitzer Capital Management Inc. KS owned approximately 0.05% of Corpay worth $11,590,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the stock. Whittier Trust Co. of Nevada Inc. boosted its stake in Corpay by 22.7% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 184 shares of the company’s stock worth $58,000 after acquiring an additional 34 shares in the last quarter. Mather Group LLC. raised its holdings in shares of Corpay by 21.2% during the third quarter. Mather Group LLC. now owns 200 shares of the company’s stock valued at $63,000 after purchasing an additional 35 shares during the period. Epic Trust Investment Advisors LLC boosted its position in shares of Corpay by 4.1% during the 2nd quarter. Epic Trust Investment Advisors LLC now owns 998 shares of the company’s stock worth $266,000 after purchasing an additional 39 shares in the last quarter. Massmutual Trust Co. FSB ADV grew its stake in shares of Corpay by 21.6% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 242 shares of the company’s stock valued at $64,000 after buying an additional 43 shares during the period. Finally, Signaturefd LLC increased its position in Corpay by 22.3% in the 3rd quarter. Signaturefd LLC now owns 252 shares of the company’s stock valued at $79,000 after buying an additional 46 shares in the last quarter. Institutional investors and hedge funds own 98.84% of the company’s stock.

Corpay Stock Performance

Corpay stock traded down $3.70 during mid-day trading on Thursday, reaching $345.27. 53,221 shares of the company’s stock were exchanged, compared to its average volume of 466,371. The firm has a market capitalization of $23.97 billion, a PE ratio of 25.36, a P/E/G ratio of 1.30 and a beta of 1.21. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 1.74. The business’s fifty day simple moving average is $323.31 and its 200 day simple moving average is $295.32. Corpay, Inc. has a one year low of $221.37 and a one year high of $355.47.

Corpay (NYSE:CPAY) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $4.55 earnings per share for the quarter, beating the consensus estimate of $4.51 by $0.04. The company had revenue of $975.70 million during the quarter, compared to analyst estimates of $973.84 million. Corpay had a net margin of 26.41% and a return on equity of 38.93%. The firm’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.85 earnings per share. On average, sell-side analysts expect that Corpay, Inc. will post 17.96 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Morgan Stanley raised their price objective on Corpay from $275.00 to $325.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 29th. William Blair upgraded shares of Corpay to a “strong-buy” rating in a report on Thursday, August 8th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $310.00 price objective on shares of Corpay in a research note on Thursday, August 8th. Barclays upped their target price on shares of Corpay from $385.00 to $415.00 and gave the stock an “overweight” rating in a report on Monday, October 28th. Finally, JPMorgan Chase & Co. lifted their price target on Corpay from $327.00 to $353.00 and gave the company an “overweight” rating in a research note on Tuesday, August 20th. Four investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Corpay has an average rating of “Moderate Buy” and a consensus price target of $353.46.

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.