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

Kornitzer Capital Management Inc. KS boosted its holdings in shares of Corpay, Inc. (NYSE:CPAY - Free Report) by 28.7% in the third quarter, according to its most recent filing with the SEC. The firm owned 37,057 shares of the company's stock after acquiring an additional 8,270 shares during the period. Kornitzer Capital Management Inc. KS owned 0.05% of Corpay worth $11,590,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Chevy Chase Trust Holdings LLC acquired a new stake in shares of Corpay in the 1st quarter valued at approximately $12,335,000. Empirical Finance LLC bought a new position in shares of Corpay during the first quarter worth $829,000. BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of Corpay in the 1st quarter valued at $1,013,000. EP Wealth Advisors LLC acquired a new stake in Corpay during the 1st quarter worth $949,000. Finally, Swedbank AB lifted its holdings in Corpay by 26.9% during the second quarter. Swedbank AB now owns 127,217 shares of the company's stock worth $33,892,000 after acquiring an additional 27,000 shares in the last quarter. Institutional investors own 98.84% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on CPAY shares. BMO Capital Markets increased their price target on Corpay from $350.00 to $390.00 and gave the stock an "outperform" rating in a report on Thursday, October 3rd. William Blair upgraded shares of Corpay to a "strong-buy" rating in a report on Thursday, August 8th. Wells Fargo & Company upped their price target on shares of Corpay from $285.00 to $320.00 and gave the company an "equal weight" rating in a report on Monday, October 21st. Bank of America raised their price objective on shares of Corpay from $344.00 to $375.00 and gave the stock a "buy" rating in a report on Tuesday, October 15th. Finally, Morgan Stanley upped their target price on shares of Corpay from $275.00 to $325.00 and gave the stock an "equal weight" rating in a research note on Tuesday, October 29th. Four equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $353.46.

Corpay Stock Performance

CPAY stock traded down $2.47 during trading hours on Thursday, reaching $346.50. The stock had a trading volume of 576,961 shares, compared to its average volume of 469,033. The stock has a 50-day simple moving average of $324.21 and a 200 day simple moving average of $295.70. Corpay, Inc. has a fifty-two week low of $221.37 and a fifty-two week high of $355.47. The stock has a market capitalization of $24.06 billion, a PE ratio of 25.26, a price-to-earnings-growth ratio of 1.30 and a beta of 1.21. 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 - Get Free Report) last posted its quarterly 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. The business had revenue of $975.70 million during the quarter, compared to analysts' expectations of $973.84 million. Corpay had a return on equity of 38.93% and a net margin of 26.41%. Corpay's quarterly revenue was up 2.9% on a year-over-year basis. During the same quarter last year, the company posted $3.85 earnings per share. Analysts predict that Corpay, Inc. will post 17.96 EPS for the current fiscal year.

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.