Commerce Bank raised its stake in shares of FleetCor Technologies, Inc. (NYSE:FLT) by 31.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,299 shares of the business services provider’s stock after acquiring an additional 2,004 shares during the period. Commerce Bank’s holdings in FleetCor Technologies were worth $1,891,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. Fort L.P. bought a new position in FleetCor Technologies during the 2nd quarter valued at $122,000. Meeder Asset Management Inc. bought a new position in FleetCor Technologies during the 2nd quarter valued at $150,000. Captrust Financial Advisors lifted its stake in FleetCor Technologies by 262.0% during the 2nd quarter. Captrust Financial Advisors now owns 782 shares of the business services provider’s stock valued at $165,000 after acquiring an additional 566 shares in the last quarter. NuWave Investment Management LLC bought a new position in FleetCor Technologies during the 2nd quarter valued at $180,000. Finally, Peregrine Capital Management LLC bought a new position in FleetCor Technologies during the 2nd quarter valued at $190,000. Institutional investors and hedge funds own 98.08% of the company’s stock.
Several equities analysts have weighed in on FLT shares. Zacks Investment Research upgraded 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. Deutsche Bank restated a “buy” rating on shares of FleetCor Technologies in a research note on Thursday, September 27th. ValuEngine cut FleetCor Technologies from a “buy” rating to a “hold” rating in a research note on Friday, November 2nd. Citigroup raised their price objective on FleetCor Technologies from $240.00 to $260.00 and gave the company a “buy” rating in a research note on Friday, July 20th. Finally, Wolfe Research started coverage on FleetCor Technologies in a research note on Tuesday, July 17th. They set an “outperform” rating on the stock. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. FleetCor Technologies presently has a consensus rating of “Buy” and a consensus target price of $234.89.
NYSE FLT opened at $199.82 on Friday. The firm has a market cap of $17.47 billion, a PE ratio of 25.36, a price-to-earnings-growth ratio of 1.22 and a beta of 1.51. FleetCor Technologies, Inc. has a one year low of $174.31 and a one year 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.
FleetCor Technologies (NYSE:FLT) last released its earnings results on Tuesday, October 30th. The business services provider reported $2.68 EPS for the quarter, topping the Zacks’ consensus estimate of $2.66 by $0.02. The company had revenue of $619.60 million for the quarter, compared to analysts’ expectations of $609.75 million. FleetCor Technologies had a return on equity of 24.22% and a net margin of 33.01%. The business’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same period in the previous year, the business posted $2.18 EPS. As a group, sell-side analysts forecast that FleetCor Technologies, Inc. will post 9.85 EPS for the current fiscal year.
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About FleetCor Technologies
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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