Sumitomo Mitsui Trust Holdings Inc. lessened its holdings in shares of FleetCor Technologies, Inc. (NYSE:FLT) by 1.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 251,796 shares of the business services provider’s stock after selling 3,911 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned approximately 0.28% of FleetCor Technologies worth $38,970,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in the business. Aperio Group LLC raised its holdings in shares of FleetCor Technologies by 0.8% during the 2nd quarter. Aperio Group LLC now owns 13,630 shares of the business services provider’s stock worth $1,966,000 after acquiring an additional 102 shares during the period. US Bancorp DE raised its holdings in shares of FleetCor Technologies by 11.8% during the 2nd quarter. US Bancorp DE now owns 13,715 shares of the business services provider’s stock worth $1,978,000 after acquiring an additional 1,448 shares during the period. Tributary Capital Management LLC raised its holdings in shares of FleetCor Technologies by 7.6% during the 2nd quarter. Tributary Capital Management LLC now owns 14,200 shares of the business services provider’s stock worth $2,048,000 after acquiring an additional 1,000 shares during the period. Russell Investments Group Ltd. raised its holdings in shares of FleetCor Technologies by 6.3% during the 2nd quarter. Russell Investments Group Ltd. now owns 415,305 shares of the business services provider’s stock worth $59,926,000 after acquiring an additional 24,530 shares during the period. Finally, Lederer & Associates Investment Counsel CA purchased a new position in shares of FleetCor Technologies during the 2nd quarter worth $1,161,000. 95.76% of the stock is currently owned by institutional investors.
In other news, insider Kurt Patrick Adams sold 7,099 shares of the business’s stock in a transaction dated Thursday, November 2nd. The stock was sold at an average price of $170.00, for a total transaction of $1,206,830.00. Following the completion of the transaction, the insider now directly owns 9,246 shares of the company’s stock, valued at $1,571,820. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 4.30% of the company’s stock.
Several research analysts have recently commented on the company. Deutsche Bank lifted their price target on FleetCor Technologies from $185.00 to $225.00 and gave the stock a “buy” rating in a report on Tuesday. Zacks Investment Research lowered FleetCor Technologies from a “buy” rating to a “hold” rating in a report on Tuesday, November 7th. Barclays boosted their price objective on shares of FleetCor Technologies from $180.00 to $200.00 and gave the company an “overweight” rating in a report on Thursday, November 2nd. Morgan Stanley boosted their price objective on shares of FleetCor Technologies from $189.00 to $194.00 and gave the company an “overweight” rating in a report on Thursday, November 2nd. Finally, Oppenheimer boosted their price objective on shares of FleetCor Technologies from $185.00 to $194.00 and gave the company an “outperform” rating in a report on Thursday, November 2nd. Two analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. FleetCor Technologies presently has an average rating of “Buy” and an average price target of $187.31.
Shares of FleetCor Technologies, Inc. (NYSE:FLT) traded up $1.24 during trading hours on Thursday, reaching $185.72. 970,044 shares of the company’s stock were exchanged, compared to its average volume of 1,142,132. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.84 and a quick ratio of 0.84. The stock has a market capitalization of $16,467.54, a price-to-earnings ratio of 24.88, a PEG ratio of 1.34 and a beta of 1.53. FleetCor Technologies, Inc. has a one year low of $121.52 and a one year high of $188.85.
FleetCor Technologies (NYSE:FLT) last issued its quarterly earnings results on Wednesday, November 1st. The business services provider reported $2.18 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.14 by $0.04. The company had revenue of $577.90 million for the quarter, compared to analyst estimates of $576.78 million. FleetCor Technologies had a net margin of 25.66% and a return on equity of 20.99%. The business’s revenue for the quarter was up 19.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.92 earnings per share. equities analysts forecast that FleetCor Technologies, Inc. will post 7.75 earnings per share for the current fiscal year.
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About FleetCor Technologies
FleetCor Technologies, Inc is a provider of workforce payment products. The Company offers fuel card payments product solutions, corporate payments products, toll products, lodging cards and gift cards. The Company operates through two segments: North America and International. Its products are sold to businesses, retailers, oil companies and marketers and government entities.
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