Alphinity Investment Management Pty Ltd Grows Stake in FleetCor Technologies, Inc. (FLT)

Alphinity Investment Management Pty Ltd lifted its position in shares of FleetCor Technologies, Inc. (NYSE:FLT) by 14.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 88,609 shares of the business services provider’s stock after purchasing an additional 11,237 shares during the period. FleetCor Technologies comprises 3.8% of Alphinity Investment Management Pty Ltd’s investment portfolio, making the stock its 12th largest holding. Alphinity Investment Management Pty Ltd’s holdings in FleetCor Technologies were worth $20,189,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. IFP Advisors Inc lifted its stake in shares of FleetCor Technologies by 9.2% in the second quarter. IFP Advisors Inc now owns 3,501 shares of the business services provider’s stock worth $737,000 after acquiring an additional 295 shares during the period. PNC Financial Services Group Inc. lifted its stake in shares of FleetCor Technologies by 14.6% in the second quarter. PNC Financial Services Group Inc. now owns 2,406 shares of the business services provider’s stock worth $508,000 after acquiring an additional 307 shares during the period. Cubist Systematic Strategies LLC lifted its stake in shares of FleetCor Technologies by 33.0% in the first quarter. Cubist Systematic Strategies LLC now owns 1,575 shares of the business services provider’s stock worth $319,000 after acquiring an additional 391 shares during the period. Pendal Group Ltd lifted its stake in shares of FleetCor Technologies by 18.6% in the second quarter. Pendal Group Ltd now owns 2,824 shares of the business services provider’s stock worth $595,000 after acquiring an additional 443 shares during the period. Finally, Jaffetilchin Investment Partners LLC lifted its stake in shares of FleetCor Technologies by 34.6% in the second quarter. Jaffetilchin Investment Partners LLC now owns 2,137 shares of the business services provider’s stock worth $450,000 after acquiring an additional 549 shares during the period. Institutional investors own 98.21% of the company’s stock.

Shares of 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 company has a current ratio of 0.92, a quick ratio of 0.88 and a debt-to-equity ratio of 0.78. The company has a market capitalization of $17.44 billion, a price-to-earnings ratio of 20.75, a price-to-earnings-growth ratio of 1.21 and a beta of 1.51.

FleetCor Technologies (NYSE:FLT) last issued its quarterly earnings results on Tuesday, October 30th. The business services provider reported $2.68 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 firm had revenue of $619.60 million for the quarter, compared to analyst estimates of $609.75 million. During the same period in the previous year, the firm earned $2.18 earnings per share. The company’s revenue was up 7.2% compared to the same quarter last year. Equities analysts predict that FleetCor Technologies, Inc. will post 9.85 earnings per share for the current year.

A number of research firms recently commented on FLT. Zacks Investment Research raised FleetCor Technologies from a “sell” rating to a “buy” rating and set a $230.00 price objective on the stock in a research note on Thursday, October 11th. Morgan Stanley lifted their price objective on FleetCor Technologies from $238.00 to $240.00 and gave the stock a “buy” rating in a research note on Friday, August 3rd. Wolfe Research began coverage on FleetCor Technologies in a research note on Tuesday, July 17th. They issued an “outperform” rating on the stock. Deutsche Bank reaffirmed a “buy” rating on shares of FleetCor Technologies in a research note on Thursday, September 27th. Finally, ValuEngine lowered FleetCor Technologies from a “buy” rating to a “hold” rating in a research note on Friday. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $234.89.

FleetCor Technologies Company 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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Institutional Ownership by Quarter for FleetCor Technologies (NYSE:FLT)

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