Kornitzer Capital Management Inc. KS Sells 11,555 Shares of Corpay, Inc $CPAY

Kornitzer Capital Management Inc. KS decreased its holdings in shares of Corpay, Inc (NYSE:CPAY) by 50.6% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 11,289 shares of the corporate payments company’s stock after selling 11,555 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Corpay were worth $3,285,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in CPAY. Integrated Wealth Concepts LLC purchased a new stake in shares of Corpay in the 1st quarter worth approximately $207,000. Woodline Partners LP boosted its holdings in Corpay by 39.3% in the first quarter. Woodline Partners LP now owns 5,890 shares of the corporate payments company’s stock worth $2,054,000 after acquiring an additional 1,661 shares in the last quarter. Intech Investment Management LLC grew its stake in shares of Corpay by 30.4% in the first quarter. Intech Investment Management LLC now owns 3,341 shares of the corporate payments company’s stock worth $1,165,000 after acquiring an additional 778 shares during the last quarter. Marshall Wace LLP grew its stake in shares of Corpay by 128.6% in the second quarter. Marshall Wace LLP now owns 1,600 shares of the corporate payments company’s stock worth $531,000 after acquiring an additional 900 shares during the last quarter. Finally, Brown Advisory Inc. increased its holdings in shares of Corpay by 16.0% during the second quarter. Brown Advisory Inc. now owns 1,670 shares of the corporate payments company’s stock valued at $554,000 after acquiring an additional 230 shares in the last quarter. 98.84% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Armando Lins Netto sold 70,476 shares of the stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $352.13, for a total transaction of $24,816,713.88. Following the transaction, the insider owned 11,274 shares in the company, valued at $3,969,913.62. This represents a 86.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Steven T. Stull sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $360.78, for a total transaction of $360,780.00. Following the completion of the sale, the director owned 28,241 shares in the company, valued at $10,188,787.98. This represents a 3.42% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 88,677 shares of company stock worth $31,304,091. 5.19% of the stock is owned by insiders.

Corpay Stock Performance

Shares of NYSE:CPAY traded up $2.70 during midday trading on Friday, reaching $353.86. 419,700 shares of the company’s stock traded hands, compared to its average volume of 715,017. The company has a market cap of $23.13 billion, a price-to-earnings ratio of 21.18, a P/E/G ratio of 0.97 and a beta of 0.88. The company has a debt-to-equity ratio of 1.86, a quick ratio of 0.98 and a current ratio of 0.98. Corpay, Inc has a one year low of $252.84 and a one year high of $367.43. The stock has a 50 day moving average of $348.23 and a 200 day moving average of $330.32.

Corpay (NYSE:CPAY) last released its quarterly earnings data on Thursday, May 14th. The corporate payments company reported ($0.01) EPS for the quarter. The business had revenue of $5.63 million for the quarter. Corpay had a net margin of 24.60% and a return on equity of 38.68%. As a group, equities research analysts anticipate that Corpay, Inc will post 25.49 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently issued reports on CPAY. Morgan Stanley reaffirmed an “overweight” rating and issued a $400.00 price target on shares of Corpay in a research report on Sunday, May 10th. Wall Street Zen raised shares of Corpay from a “hold” rating to a “buy” rating in a research report on Monday, March 23rd. Wolfe Research restated an “outperform” rating and set a $450.00 price objective on shares of Corpay in a research note on Wednesday, June 3rd. Weiss Ratings raised shares of Corpay from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, April 27th. Finally, Robert W. Baird cut their price target on shares of Corpay from $440.00 to $380.00 and set an “outperform” rating on the stock in a report on Tuesday, March 31st. Thirteen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $383.07.

Corpay Company Profile

Corpay is a global corporate payments company that provides businesses with a range of payment and expense management solutions. Its services are designed to help organizations manage payables, card programs, travel and fleet-related expenses, and cross-border transactions more efficiently.

The company serves customers across a variety of industries and geographies, offering software and payment tools that streamline accounts payable, vendor payments, and workforce payments. Corpay also provides specialized solutions for fleet management and international payments, helping businesses control costs and simplify financial operations.

Corpay operates as part of the broader financial technology and payment processing sector.