Riverhead Capital Management LLC raised its holdings in FleetCor Technologies, Inc. (NYSE:FLT) by 162.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 18,804 shares of the business services provider’s stock after buying an additional 11,650 shares during the period. Riverhead Capital Management LLC’s holdings in FleetCor Technologies were worth $4,284,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors have also added to or reduced their stakes in FLT. Fort L.P. purchased a new position in FleetCor Technologies during the second quarter valued at approximately $122,000. Rational Advisors LLC lifted its position in FleetCor Technologies by 895.2% during the third quarter. Rational Advisors LLC now owns 617 shares of the business services provider’s stock valued at $140,000 after purchasing an additional 555 shares during the last quarter. Captrust Financial Advisors lifted its position in FleetCor Technologies by 262.0% during the second quarter. Captrust Financial Advisors now owns 782 shares of the business services provider’s stock valued at $165,000 after purchasing an additional 566 shares during the last quarter. Dupont Capital Management Corp bought a new stake in FleetCor Technologies during the third quarter valued at approximately $205,000. Finally, Conning Inc. bought a new stake in FleetCor Technologies during the third quarter valued at approximately $214,000. 68.73% of the stock is currently owned by hedge funds and other institutional investors.
Several equities research analysts have issued reports on the stock. Zacks Investment Research upgraded shares of FleetCor Technologies from a “sell” rating to a “buy” rating and set a $230.00 target price for the company in a research report on Thursday, October 11th. Barclays assumed coverage on shares of FleetCor Technologies in a research report on Wednesday, November 14th. They set an “overweight” rating and a $245.00 target price for the company. Deutsche Bank reiterated a “buy” rating on shares of FleetCor Technologies in a research report on Thursday, September 27th. Finally, ValuEngine lowered shares of FleetCor Technologies from a “buy” rating to a “hold” rating in a research report on Friday, November 2nd. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. FleetCor Technologies presently has a consensus rating of “Buy” and an average target price of $237.11.
Shares of FLT opened at $188.96 on Friday. The company has a market capitalization of $23.33 billion, a PE ratio of 23.98, a price-to-earnings-growth ratio of 1.17 and a beta of 1.49. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.92 and a quick ratio of 0.92. FleetCor Technologies, Inc. has a fifty-two week low of $180.15 and a fifty-two week high of $230.24.
FleetCor Technologies (NYSE:FLT) last announced its quarterly earnings data on Tuesday, October 30th. The business services provider reported $2.68 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.66 by $0.02. The firm had revenue of $619.60 million during the quarter, compared to analyst estimates of $609.75 million. FleetCor Technologies had a net margin of 33.01% and a return on equity of 24.22%. The business’s quarterly revenue was up 7.2% on a year-over-year basis. During the same period in the previous year, the business posted $2.18 EPS. Equities research analysts expect 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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