Logan Capital Management Inc. cut its holdings in shares of FleetCor Technologies, Inc. (NYSE:FLT) by 2.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 61,512 shares of the business services provider’s stock after selling 1,838 shares during the quarter. Logan Capital Management Inc. owned about 0.07% of FleetCor Technologies worth $11,837,000 as of its most recent SEC filing.
Several other hedge funds have also bought and sold shares of FLT. Raymond James Financial Services Advisors Inc. grew its holdings in FleetCor Technologies by 207.3% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 6,708 shares of the business services provider’s stock valued at $967,000 after buying an additional 4,525 shares in the last quarter. Davidson Kempner Capital Management LP acquired a new position in FleetCor Technologies in the 3rd quarter valued at $11,608,000. California Public Employees Retirement System grew its holdings in FleetCor Technologies by 4.5% in the 3rd quarter. California Public Employees Retirement System now owns 170,177 shares of the business services provider’s stock valued at $26,338,000 after buying an additional 7,377 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in FleetCor Technologies by 31.2% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,701,521 shares of the business services provider’s stock valued at $263,344,000 after buying an additional 404,670 shares in the last quarter. Finally, Kensico Capital Management Corp grew its holdings in FleetCor Technologies by 52.5% in the 3rd quarter. Kensico Capital Management Corp now owns 450,000 shares of the business services provider’s stock valued at $69,647,000 after buying an additional 155,000 shares in the last quarter. 99.13% of the stock is currently owned by institutional investors and hedge funds.
A number of research analysts have commented on the company. Credit Suisse Group upped their price objective on FleetCor Technologies from $209.00 to $211.00 and gave the company a “neutral” rating in a report on Friday, February 9th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $236.00 price objective on shares of FleetCor Technologies in a report on Thursday, February 8th. Zacks Investment Research raised FleetCor Technologies from a “hold” rating to a “buy” rating and set a $228.00 price objective on the stock in a report on Thursday, February 8th. Oppenheimer upped their price objective on FleetCor Technologies from $194.00 to $247.00 and gave the company an “outperform” rating in a report on Monday, February 5th. Finally, SunTrust Banks set a $240.00 price objective on FleetCor Technologies and gave the company a “buy” rating in a report on Monday, February 5th. Two investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $209.21.
Shares of FleetCor Technologies, Inc. (NYSE FLT) opened at $203.64 on Thursday. The firm has a market capitalization of $17,911.40, a price-to-earnings ratio of 25.47, a PEG ratio of 1.26 and a beta of 1.52. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.86. FleetCor Technologies, Inc. has a 1 year low of $121.52 and a 1 year high of $213.74.
FleetCor Technologies (NYSE:FLT) last released its earnings results on Thursday, February 8th. The business services provider reported $2.42 earnings per share for the quarter, beating analysts’ consensus estimates of $2.33 by $0.09. The firm had revenue of $610.00 million during the quarter, compared to the consensus estimate of $605.87 million. FleetCor Technologies had a return on equity of 21.59% and a net margin of 32.90%. The company’s revenue was up 18.4% compared to the same quarter last year. During the same period in the prior year, the company posted $1.90 EPS. sell-side analysts anticipate that FleetCor Technologies, Inc. will post 9.59 earnings per share for the current 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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