FleetCor Technologies, Inc. (FLT) Position Raised by Wells Fargo & Company MN

Wells Fargo & Company MN boosted its position in FleetCor Technologies, Inc. (NYSE:FLT) by 0.9% in the 3rd quarter, Holdings Channel reports. The firm owned 686,436 shares of the business services provider’s stock after acquiring an additional 5,855 shares during the period. Wells Fargo & Company MN’s holdings in FleetCor Technologies were worth $156,399,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of FLT. BlackRock Inc. lifted its position in FleetCor Technologies by 20.2% during the second quarter. BlackRock Inc. now owns 7,464,198 shares of the business services provider’s stock worth $1,572,333,000 after acquiring an additional 1,254,098 shares during the last quarter. Jennison Associates LLC lifted its position in FleetCor Technologies by 14.4% during the second quarter. Jennison Associates LLC now owns 4,598,370 shares of the business services provider’s stock worth $968,647,000 after acquiring an additional 577,206 shares during the last quarter. Bank of New York Mellon Corp lifted its position in FleetCor Technologies by 146.2% during the second quarter. Bank of New York Mellon Corp now owns 892,986 shares of the business services provider’s stock worth $188,107,000 after acquiring an additional 530,211 shares during the last quarter. Morgan Stanley lifted its position in FleetCor Technologies by 448.6% during the second quarter. Morgan Stanley now owns 545,098 shares of the business services provider’s stock worth $114,824,000 after acquiring an additional 445,740 shares during the last quarter. Finally, Northern Trust Corp lifted its position in FleetCor Technologies by 76.7% during the second quarter. Northern Trust Corp now owns 941,094 shares of the business services provider’s stock worth $198,242,000 after acquiring an additional 408,595 shares during the last quarter. Hedge funds and other institutional investors own 98.08% of the company’s stock.

Several brokerages have issued reports on FLT. ValuEngine downgraded shares of FleetCor Technologies from a “buy” rating to a “hold” rating in a research report on Friday, November 2nd. Zacks Investment Research downgraded shares of FleetCor Technologies from a “buy” rating to a “hold” rating in a research report on Tuesday, October 30th. Citigroup raised their price objective on shares of FleetCor Technologies from $240.00 to $260.00 and gave the stock a “buy” rating in a research report on Friday, July 20th. Wolfe Research began coverage on shares of FleetCor Technologies in a research report on Tuesday, July 17th. They set an “outperform” rating for the company. Finally, Deutsche Bank restated a “buy” rating on shares of FleetCor Technologies in a research report on Thursday, September 27th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $234.89.

NYSE FLT opened at $199.82 on Friday. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.92 and a quick ratio of 0.88. FleetCor Technologies, Inc. has a 1-year low of $174.31 and a 1-year high of $230.24. The company has a market capitalization of $18.05 billion, a PE ratio of 25.36, a price-to-earnings-growth ratio of 1.26 and a beta of 1.51.

FleetCor Technologies (NYSE:FLT) last released its quarterly earnings results on Tuesday, October 30th. The business services provider reported $2.68 earnings per share for the quarter, beating analysts’ consensus estimates of $2.66 by $0.02. FleetCor Technologies had a net margin of 33.01% and a return on equity of 24.22%. The company had revenue of $619.60 million during the quarter, compared to the consensus estimate of $609.75 million. During the same period in the previous year, the business earned $2.18 earnings per share. The firm’s quarterly revenue was up 7.2% on a year-over-year basis. On average, sell-side analysts anticipate that FleetCor Technologies, Inc. will post 9.85 earnings per share for the current year.

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

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