Corpay, Inc. (NYSE:CPAY) Shares Acquired by Mackenzie Financial Corp

Key Points

• Mackenzie Financial Corp has increased its holdings in Corpay, Inc. by 17.1%, owning a total of 6,782 shares valued at approximately $2.37 million.
• Corpay stock saw various institutional investors modify their holdings, with 98.84% of the stock being owned by these investors as of the latest reports.
• Wall Street analysts are optimistic about Corpay, with an average rating of "Moderate Buy" and a consensus price target of $401.07, despite some fluctuations in target prices from different firms.

Mackenzie Financial Corp raised its stake in shares of Corpay, Inc. (NYSE:CPAY - Free Report) by 17.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,782 shares of the company's stock after purchasing an additional 990 shares during the period. Mackenzie Financial Corp's holdings in Corpay were worth $2,365,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Colonial Trust Co SC lifted its stake in shares of Corpay by 120.5% in the fourth quarter. Colonial Trust Co SC now owns 97 shares of the company's stock worth $33,000 after buying an additional 53 shares in the last quarter. Rakuten Securities Inc. acquired a new stake in Corpay during the first quarter worth about $45,000. Larson Financial Group LLC increased its position in Corpay by 309.5% during the first quarter. Larson Financial Group LLC now owns 172 shares of the company's stock worth $60,000 after purchasing an additional 130 shares during the last quarter. Continuum Advisory LLC increased its position in Corpay by 29.6% during the fourth quarter. Continuum Advisory LLC now owns 184 shares of the company's stock worth $62,000 after purchasing an additional 42 shares during the last quarter. Finally, Whipplewood Advisors LLC increased its position in Corpay by 648.0% during the first quarter. Whipplewood Advisors LLC now owns 187 shares of the company's stock worth $65,000 after purchasing an additional 162 shares during the last quarter. 98.84% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on CPAY shares. Deutsche Bank Aktiengesellschaft started coverage on shares of Corpay in a report on Thursday, July 17th. They issued a "buy" rating and a $390.00 price objective for the company. Oppenheimer began coverage on shares of Corpay in a report on Monday, April 28th. They issued a "market perform" rating for the company. UBS Group decreased their price target on shares of Corpay from $365.00 to $340.00 and set a "neutral" rating for the company in a research note on Thursday. Wells Fargo & Company decreased their price target on shares of Corpay from $375.00 to $339.00 and set an "equal weight" rating for the company in a research note on Thursday, April 24th. Finally, Robert W. Baird set a $440.00 price target on shares of Corpay in a research note on Tuesday, June 10th. Five investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Corpay presently has a consensus rating of "Moderate Buy" and a consensus target price of $397.93.

Corpay Trading Down 0.5%

Shares of Corpay stock traded down $1.44 during trading hours on Friday, reaching $303.07. 377,906 shares of the company's stock were exchanged, compared to its average volume of 496,054. Corpay, Inc. has a 52-week low of $269.02 and a 52-week high of $400.81. The company has a fifty day moving average of $329.68 and a 200-day moving average of $339.10. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 1.69. The firm has a market capitalization of $21.36 billion, a price-to-earnings ratio of 20.62, a price-to-earnings-growth ratio of 1.20 and a beta of 0.96.

Corpay (NYSE:CPAY - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported $5.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.11 by $0.02. Corpay had a net margin of 25.17% and a return on equity of 41.29%. The business had revenue of $1.10 billion for the quarter, compared to analysts' expectations of $1.09 billion. During the same period last year, the company earned $4.55 earnings per share. The company's quarterly revenue was up 12.9% on a year-over-year basis. Sell-side analysts forecast that Corpay, Inc. will post 19.76 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.