Strategy Asset Managers LLC bought a new position in FleetCor Technologies, Inc. (NYSE:FLT) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 11,576 shares of the business services provider’s stock, valued at approximately $2,855,000.
Several other hedge funds and other institutional investors have also recently modified their holdings of FLT. Keybank National Association OH purchased a new position in FleetCor Technologies during the 1st quarter valued at $259,000. TD Asset Management Inc. boosted its stake in FleetCor Technologies by 13.8% in the 1st quarter. TD Asset Management Inc. now owns 119,844 shares of the business services provider’s stock worth $29,552,000 after purchasing an additional 14,500 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in FleetCor Technologies by 209.7% in the 1st quarter. JPMorgan Chase & Co. now owns 165,049 shares of the business services provider’s stock worth $40,700,000 after purchasing an additional 111,759 shares in the last quarter. Violich Capital Management Inc. boosted its stake in FleetCor Technologies by 47.1% in the 1st quarter. Violich Capital Management Inc. now owns 6,250 shares of the business services provider’s stock worth $1,541,000 after purchasing an additional 2,000 shares in the last quarter. Finally, Independent Advisor Alliance boosted its stake in FleetCor Technologies by 8.5% in the 1st quarter. Independent Advisor Alliance now owns 1,213 shares of the business services provider’s stock worth $299,000 after purchasing an additional 95 shares in the last quarter. 94.65% of the stock is currently owned by institutional investors.
FLT traded up $1.83 during midday trading on Tuesday, hitting $273.91. 126,428 shares of the company traded hands, compared to its average volume of 576,698. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.86 and a current ratio of 0.91. The stock has a market capitalization of $23.09 billion, a P/E ratio of 27.58, a P/E/G ratio of 1.52 and a beta of 1.24. FleetCor Technologies, Inc. has a 52 week low of $172.18 and a 52 week high of $272.91.
FleetCor Technologies (NYSE:FLT) last posted its earnings results on Tuesday, May 7th. The business services provider reported $2.56 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.46 by $0.10. The business had revenue of $621.80 million for the quarter, compared to analysts’ expectations of $608.40 million. FleetCor Technologies had a net margin of 32.74% and a return on equity of 26.56%. The business’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.50 EPS. Research analysts forecast that FleetCor Technologies, Inc. will post 11.11 EPS for the current fiscal year.
A number of brokerages recently issued reports on FLT. Oppenheimer upped their price target on shares of FleetCor Technologies from $265.00 to $270.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 8th. SunTrust Banks upped their price target on shares of FleetCor Technologies to $300.00 and gave the stock a “buy” rating in a research note on Wednesday, May 8th. Mizuho upped their price target on shares of FleetCor Technologies from $245.00 to $247.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 8th. Jefferies Financial Group set a $250.00 price target on shares of FleetCor Technologies and gave the stock a “hold” rating in a research note on Tuesday, April 23rd. Finally, Zacks Investment Research cut shares of FleetCor Technologies from a “buy” rating to a “hold” rating in a research note on Tuesday, April 9th. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $255.33.
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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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