Victory Capital Management Inc. grew its stake in shares of FleetCor Technologies, Inc. (NYSE:FLT) by 1.9% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 201,805 shares of the business services provider’s stock after purchasing an additional 3,774 shares during the quarter. Victory Capital Management Inc. owned about 0.23% of FleetCor Technologies worth $45,979,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. Korea Investment CORP increased its position in shares of FleetCor Technologies by 23.7% during the 2nd quarter. Korea Investment CORP now owns 30,292 shares of the business services provider’s stock worth $6,381,000 after purchasing an additional 5,800 shares during the last quarter. Bank of Nova Scotia acquired a new position in shares of FleetCor Technologies during the 2nd quarter worth approximately $2,065,000. MetLife Investment Advisors LLC acquired a new position in shares of FleetCor Technologies during the 2nd quarter worth approximately $5,558,000. Legal & General Group Plc increased its position in shares of FleetCor Technologies by 2.0% during the 2nd quarter. Legal & General Group Plc now owns 377,429 shares of the business services provider’s stock worth $79,505,000 after purchasing an additional 7,303 shares during the last quarter. Finally, Highland Capital Management LP acquired a new position in shares of FleetCor Technologies during the 2nd quarter worth approximately $421,000. 98.08% of the stock is currently owned by hedge funds and other institutional investors.
A number of research firms recently weighed in on FLT. Zacks Investment Research raised FleetCor Technologies from a “sell” rating to a “buy” rating and set a $230.00 target price on the stock in a report on Thursday, October 11th. Deutsche Bank reissued a “buy” rating on shares of FleetCor Technologies in a report on Thursday, September 27th. ValuEngine lowered FleetCor Technologies from a “buy” rating to a “hold” rating in a report on Friday, November 2nd. Citigroup boosted their target price on FleetCor Technologies from $240.00 to $260.00 and gave the stock a “buy” rating in a report on Friday, July 20th. Finally, Wolfe Research began coverage on FleetCor Technologies in a report on Tuesday, July 17th. They set an “outperform” rating on the stock. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $234.89.
FLT stock opened at $199.82 on Friday. The company has a current ratio of 0.92, a quick ratio of 0.88 and a debt-to-equity ratio of 0.78. The company has a market cap of $18.05 billion, a P/E ratio of 21.48, a price-to-earnings-growth ratio of 1.26 and a beta of 1.51. FleetCor Technologies, Inc. has a 1-year low of $174.31 and a 1-year high of $230.24.
FleetCor Technologies (NYSE:FLT) last posted its earnings results on Tuesday, October 30th. The business services provider reported $2.68 earnings per share for the quarter, topping analysts’ consensus estimates of $2.66 by $0.02. The business had revenue of $619.60 million for the quarter, compared to analyst estimates of $609.75 million. FleetCor Technologies had a return on equity of 24.22% and a net margin of 33.01%. The firm’s revenue was up 7.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.18 EPS. Equities analysts forecast that FleetCor Technologies, Inc. will post 9.85 EPS for the current year.
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FleetCor Technologies Company 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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