FleetCor Technologies CEO Sells $19,195,800 in Stock (FLT)
FleetCor Technologies (NYSE:FLT) CEO Ronald Clarke sold 130,000 shares of FleetCor Technologies stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $147.66, for a total transaction of $19,195,800.00. Following the completion of the transaction, the chief executive officer now directly owns 539,283 shares in the company, valued at approximately $79,630,528. The transaction was disclosed in a filing with the SEC, which is available at this link.
FleetCor Technologies (NYSE:FLT) traded down 1.45% during mid-day trading on Wednesday, hitting $145.00. The stock had a trading volume of 555,181 shares. FleetCor Technologies has a 1-year low of $98.41 and a 1-year high of $149.92. The stock has a 50-day moving average of $136.0 and a 200-day moving average of $125.7. The company has a market cap of $12.071 billion and a P/E ratio of 40.53.
FleetCor Technologies (NYSE:FLT) last posted its quarterly earnings results on Thursday, July 31st. The company reported $1.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.02. The company had revenue of $273.50 million for the quarter, compared to the consensus estimate of $273.70 million. During the same quarter in the previous year, the company posted $1.00 earnings per share. The company’s revenue for the quarter was up 23.8% on a year-over-year basis. Analysts expect that FleetCor Technologies will post $5.09 EPS for the current fiscal year.
A number of research firms have recently commented on FLT. Analysts at Jefferies Group raised their price target on shares of FleetCor Technologies from $139.00 to $149.00 in a research note on Monday, August 4th. They now have a “buy” rating on the stock. Separately, analysts at Barclays reiterated an “overweight” rating on shares of FleetCor Technologies in a research note on Friday, August 1st. They now have a $155.00 price target on the stock, up previously from $150.00. Finally, analysts at Piper Jaffray initiated coverage on shares of FleetCor Technologies in a research note on Wednesday, July 16th. They set a “neutral” rating and a $134.00 price target on the stock. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. FleetCor Technologies presently has an average rating of “Buy” and a consensus price target of $143.00.
FleetCor Technologies, Inc is an independent global provider of fuel cards and workforce payment products and services to businesses, commercial fleets, major oil companies, petroleum marketers and government entities in countries throughout North America, Latin America and Europe.
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