IFP Advisors Inc trimmed its holdings in FleetCor Technologies, Inc. (NYSE:FLT) by 13.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 3,039 shares of the business services provider’s stock after selling 462 shares during the period. IFP Advisors Inc’s holdings in FleetCor Technologies were worth $692,000 at the end of the most recent quarter.
Other institutional investors have also modified their holdings of the company. Fort L.P. purchased a new position in FleetCor Technologies in the second quarter worth approximately $122,000. Meeder Asset Management Inc. purchased a new position in FleetCor Technologies in the second quarter worth approximately $150,000. Captrust Financial Advisors grew its position in FleetCor Technologies by 262.0% in the second quarter. Captrust Financial Advisors now owns 782 shares of the business services provider’s stock worth $165,000 after acquiring an additional 566 shares during the period. NuWave Investment Management LLC purchased a new position in FleetCor Technologies in the second quarter worth approximately $180,000. Finally, Peregrine Capital Management LLC purchased a new position in FleetCor Technologies in the second quarter worth approximately $190,000. Institutional investors own 98.21% of the company’s stock.
FLT has been the subject of several analyst reports. Zacks Investment Research lowered FleetCor Technologies from a “buy” rating to a “sell” rating in a research report on Tuesday, July 10th. Wolfe Research initiated coverage on FleetCor Technologies in a research report on Tuesday, July 17th. They issued an “outperform” rating for the company. Citigroup increased their price objective on FleetCor Technologies from $240.00 to $260.00 and gave the stock a “buy” rating in a research report on Friday, July 20th. Morgan Stanley increased their price objective on FleetCor Technologies from $238.00 to $240.00 and gave the stock a “buy” rating in a research report on Friday, August 3rd. Finally, Deutsche Bank reiterated a “buy” rating on shares of FleetCor Technologies in a research report on Thursday, September 27th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $234.89.
FLT opened at $197.34 on Friday. FleetCor Technologies, Inc. has a 52 week low of $174.31 and a 52 week high of $230.24. The firm has a market cap of $17.68 billion, a PE ratio of 21.03, a PEG ratio of 1.23 and a beta of 1.51. The company has a quick ratio of 0.88, a current ratio of 0.92 and a debt-to-equity ratio of 0.78.
FleetCor Technologies (NYSE:FLT) last released its quarterly earnings results on Tuesday, October 30th. The business services provider reported $2.68 EPS for the quarter, topping the consensus estimate of $2.66 by $0.02. FleetCor Technologies had a return on equity of 24.22% and a net margin of 33.01%. The business had revenue of $619.60 million during the quarter, compared to analyst estimates of $609.75 million. During the same period last year, the business posted $2.18 earnings per share. The company’s quarterly revenue was up 7.2% on a year-over-year basis. Equities research analysts predict that FleetCor Technologies, Inc. will post 9.86 earnings per share for the current fiscal year.
FleetCor Technologies Profile
FleetCor Technologies, Inc provides commercial payment solutions in North America, Latin America, Europe, and Australasia. The company offers fuel payment solutions to businesses and government entities that operate vehicle fleets, as well as to oil and leasing companies, and fuel marketers. Its fuel payment products are in the form of plastic cards, electronic RFID tags, and paper vouchers to purchase fuel, oil, vehicle maintenance supplies and services, and building supplies.
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