Corpay, Inc $CPAY Shares Sold by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS trimmed its stake in shares of Corpay, Inc (NYSE:CPAY) by 50.6% in the first quarter, according to the company in its most recent 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 period. Kornitzer Capital Management Inc. KS’s holdings in Corpay were worth $3,285,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Orbis Allan Gray Ltd grew its holdings in shares of Corpay by 20.8% in the 4th quarter. Orbis Allan Gray Ltd now owns 4,987,968 shares of the corporate payments company’s stock worth $1,501,029,000 after acquiring an additional 859,854 shares during the period. JPMorgan Chase & Co. raised its holdings in Corpay by 6.9% during the fourth quarter. JPMorgan Chase & Co. now owns 4,734,927 shares of the corporate payments company’s stock worth $1,424,882,000 after purchasing an additional 307,355 shares during the last quarter. State Street Corp raised its holdings in Corpay by 0.8% during the third quarter. State Street Corp now owns 2,956,744 shares of the corporate payments company’s stock worth $851,720,000 after purchasing an additional 23,470 shares during the last quarter. Geode Capital Management LLC boosted its position in Corpay by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 1,905,526 shares of the corporate payments company’s stock worth $571,346,000 after purchasing an additional 19,281 shares in the last quarter. Finally, Invesco Ltd. grew its holdings in Corpay by 0.5% in the fourth quarter. Invesco Ltd. now owns 1,751,048 shares of the corporate payments company’s stock valued at $526,943,000 after purchasing an additional 8,783 shares during the last quarter. 98.84% of the stock is currently owned by institutional investors and hedge funds.

Corpay Price Performance

CPAY stock traded up $2.70 during trading on Friday, hitting $353.86. The stock had a trading volume of 419,700 shares, compared to its average volume of 715,017. The company’s 50 day moving average price is $348.23 and its two-hundred day moving average price is $330.32. Corpay, Inc has a 1-year low of $252.84 and a 1-year high of $367.43. The stock has a market cap of $23.13 billion, a price-to-earnings ratio of 21.18, a price-to-earnings-growth 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 (NYSE:CPAY) last released its quarterly earnings results on Thursday, May 14th. The corporate payments company reported ($0.01) earnings per share (EPS) for the quarter. The firm had revenue of $5.63 million for the quarter. Corpay had a return on equity of 38.68% and a net margin of 24.60%. On average, sell-side analysts forecast that Corpay, Inc will post 25.49 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

In other news, Director Steven T. Stull sold 1,000 shares of Corpay stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $360.78, for a total value of $360,780.00. Following the completion of the sale, the director owned 28,241 shares of the company’s stock, valued at $10,188,787.98. The trade was a 3.42% 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, insider Armando Lins Netto sold 70,476 shares of the company’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $352.13, for a total value of $24,816,713.88. Following the completion of the transaction, the insider owned 11,274 shares of the company’s stock, valued at $3,969,913.62. The trade was a 86.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 88,677 shares of company stock worth $31,304,091. Corporate insiders own 5.19% of the company’s stock.

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.