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

Kornitzer Capital Management Inc. KS lifted its position in shares of Corpay, Inc. (NYSE:CPAY) by 28.7% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 37,057 shares of the company’s stock after acquiring an additional 8,270 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in Corpay were worth $11,590,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. First Trust Direct Indexing L.P. purchased a new position in shares of Corpay in the first quarter worth about $229,000. Janney Montgomery Scott LLC purchased a new stake in shares of Corpay during the first quarter worth $316,000. Nordea Investment Management AB bought a new position in shares of Corpay in the first quarter worth $1,674,000. Jennison Associates LLC purchased a new position in shares of Corpay in the first quarter valued at $2,360,000. Finally, BI Asset Management Fondsmaeglerselskab A S purchased a new stake in Corpay during the 1st quarter worth about $1,013,000. Hedge funds and other institutional investors own 98.84% of the company’s stock.

Wall Street Analyst Weigh In

CPAY has been the subject of a number of recent analyst reports. Bank of America lifted their target price on Corpay from $344.00 to $375.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. Jefferies Financial Group upped their target price on shares of Corpay from $375.00 to $425.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. William Blair upgraded shares of Corpay to a “strong-buy” rating in a research note on Thursday, August 8th. Royal Bank of Canada restated a “sector perform” rating and set a $310.00 price target on shares of Corpay in a research report on Thursday, August 8th. Finally, Wolfe Research upgraded Corpay from an “underperform” rating to a “peer perform” rating in a research report on Tuesday, September 3rd. Four equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $353.46.

Corpay Price Performance

NYSE CPAY traded down $3.70 on Thursday, reaching $345.27. 53,221 shares of the company’s stock traded hands, compared to its average volume of 466,371. The stock has a market cap of $23.97 billion, a PE ratio of 25.36, a P/E/G ratio of 1.30 and a beta of 1.21. Corpay, Inc. has a 12 month low of $221.37 and a 12 month high of $355.47. The stock has a 50-day simple moving average of $323.31 and a 200 day simple moving average of $295.32. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.02 and a quick ratio of 1.02.

Corpay (NYSE:CPAY) last issued its earnings results on Wednesday, August 7th. The company reported $4.55 EPS for the quarter, topping analysts’ consensus estimates of $4.51 by $0.04. Corpay had a net margin of 26.41% and a return on equity of 38.93%. The company had revenue of $975.70 million for the quarter, compared to analysts’ expectations of $973.84 million. During the same quarter last year, the company earned $3.85 EPS. The firm’s revenue was up 2.9% compared to the same quarter last year. As a group, research analysts predict that Corpay, Inc. will post 17.96 earnings per share for the current year.

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.