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 grew its holdings in shares of Corpay, Inc. (NYSE:CPAY - Free Report) by 17.1% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 6,782 shares of the company's stock after buying an additional 990 shares during the period. Mackenzie Financial Corp's holdings in Corpay were worth $2,365,000 as of its most recent filing with the SEC.

Several other large investors also recently added to or reduced their stakes in CPAY. Colonial Trust Co SC increased its position in Corpay by 120.5% during the 4th quarter. Colonial Trust Co SC now owns 97 shares of the company's stock valued at $33,000 after buying an additional 53 shares in the last quarter. Rakuten Securities Inc. acquired a new stake in shares of Corpay during the first quarter valued at about $45,000. Larson Financial Group LLC raised its holdings in shares of Corpay by 309.5% during the first quarter. Larson Financial Group LLC now owns 172 shares of the company's stock valued at $60,000 after buying an additional 130 shares during the last quarter. Continuum Advisory LLC increased its holdings in Corpay by 29.6% in the fourth quarter. Continuum Advisory LLC now owns 184 shares of the company's stock worth $62,000 after buying an additional 42 shares during the last quarter. Finally, Whipplewood Advisors LLC lifted its position in shares of Corpay by 648.0% during the 1st quarter. Whipplewood Advisors LLC now owns 187 shares of the company's stock worth $65,000 after buying an additional 162 shares during the period. Hedge funds and other institutional investors own 98.84% of the company's stock.

Analyst Ratings Changes

CPAY has been the topic of a number of research analyst reports. Barclays dropped their price objective on shares of Corpay from $440.00 to $400.00 and set an "overweight" rating on the stock in a report on Monday, April 14th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Corpay in a research note on Thursday, July 17th. They issued a "buy" rating and a $390.00 price objective on the stock. Robert W. Baird set a $440.00 price objective on shares of Corpay in a research report on Tuesday, June 10th. Wells Fargo & Company lowered their price target on shares of Corpay from $375.00 to $339.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 24th. Finally, Oppenheimer began coverage on shares of Corpay in a report on Monday, April 28th. They issued a "market perform" rating for the company. Five equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $401.07.

Corpay Stock Down 1.2%

Shares of CPAY traded down $3.79 during mid-day trading on Wednesday, hitting $314.79. 871,351 shares of the company traded hands, compared to its average volume of 466,120. Corpay, Inc. has a 1-year low of $269.02 and a 1-year high of $400.81. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 1.69. The company has a market capitalization of $22.19 billion, a PE ratio of 22.08, a price-to-earnings-growth ratio of 1.21 and a beta of 0.96. The business has a 50 day moving average of $330.46 and a 200 day moving average of $339.73.

Corpay (NYSE:CPAY - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The company reported $4.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.50 by $0.01. Corpay had a net margin of 25.15% and a return on equity of 41.61%. The firm had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $1.02 billion. During the same quarter in the prior year, the company posted $4.10 earnings per share. The company's revenue for the quarter was up 7.5% compared to the same quarter last year. Equities research analysts anticipate that Corpay, Inc. will post 19.76 EPS for the current 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.