Kornitzer Capital Management Inc. KS Trims Stock Position in Corpay, Inc $CPAY

Kornitzer Capital Management Inc. KS trimmed its holdings in shares of Corpay, Inc (NYSE:CPAY) by 50.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 11,289 shares of the corporate payments company’s stock after selling 11,555 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in Corpay were worth $3,285,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CPAY. Hendershot Investments Inc. raised its position in Corpay by 21.6% in the first quarter. Hendershot Investments Inc. now owns 53,258 shares of the corporate payments company’s stock worth $15,498,000 after acquiring an additional 9,446 shares during the period. HB Wealth Management LLC grew its position in shares of Corpay by 13.3% during the 1st quarter. HB Wealth Management LLC now owns 1,973 shares of the corporate payments company’s stock valued at $574,000 after acquiring an additional 232 shares during the period. Moran Wealth Management LLC increased its stake in shares of Corpay by 77.9% in the 1st quarter. Moran Wealth Management LLC now owns 37,869 shares of the corporate payments company’s stock worth $11,020,000 after purchasing an additional 16,586 shares in the last quarter. New York State Teachers Retirement System increased its stake in shares of Corpay by 2.1% in the 1st quarter. New York State Teachers Retirement System now owns 61,792 shares of the corporate payments company’s stock worth $17,981,000 after purchasing an additional 1,265 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd bought a new position in Corpay in the 1st quarter worth $3,659,000. 98.84% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

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

Corpay Price Performance

CPAY stock traded up $2.70 during trading on Friday, reaching $353.86. The company’s stock had a trading volume of 419,700 shares, compared to its average volume of 715,017. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 1.86. The company’s fifty day moving average is $348.23 and its 200-day moving average is $330.32. The company has a market capitalization of $23.13 billion, a P/E ratio of 21.18, a price-to-earnings-growth ratio of 0.97 and a beta of 0.88. Corpay, Inc has a 1 year low of $252.84 and a 1 year high of $367.43.

Corpay (NYSE:CPAY) last announced 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 during the quarter. Corpay had a net margin of 24.60% and a return on equity of 38.68%. On average, research analysts expect that Corpay, Inc will post 25.49 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently weighed in on CPAY shares. Oppenheimer reiterated an “outperform” rating and set a $388.00 target price on shares of Corpay in a research report on Friday, May 8th. Weiss Ratings raised Corpay from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, April 27th. Morgan Stanley reiterated an “overweight” rating and set a $400.00 price objective on shares of Corpay in a research note on Sunday, May 10th. Wall Street Zen raised shares of Corpay from a “hold” rating to a “buy” rating in a report on Monday, March 23rd. Finally, Robert W. Baird decreased their target price on shares of Corpay from $440.00 to $380.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 31st. Thirteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $383.07.

About Corpay

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.