Wells Fargo & Company MN boosted its position in shares of FleetCor Technologies, Inc. (NYSE:FLT) by 0.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 686,436 shares of the business services provider’s stock after purchasing an additional 5,855 shares during the period. Wells Fargo & Company MN owned about 0.78% of FleetCor Technologies worth $156,399,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in FLT. Fort L.P. bought a new position in FleetCor Technologies during the 2nd quarter worth about $122,000. Meeder Asset Management Inc. bought a new position in FleetCor Technologies during the 2nd quarter worth about $150,000. Captrust Financial Advisors increased its holdings in FleetCor Technologies by 262.0% during the 2nd quarter. Captrust Financial Advisors now owns 782 shares of the business services provider’s stock worth $165,000 after purchasing an additional 566 shares in the last quarter. NuWave Investment Management LLC bought a new position in FleetCor Technologies during the 2nd quarter worth about $180,000. Finally, Peregrine Capital Management LLC bought a new position in FleetCor Technologies during the 2nd quarter worth about $190,000. Hedge funds and other institutional investors own 98.08% of the company’s stock.
A number of equities analysts have issued reports on FLT shares. Zacks Investment Research upgraded FleetCor Technologies from a “sell” rating to a “buy” rating and set a $230.00 target price for the company in a report on Thursday, October 11th. Deutsche Bank restated a “buy” rating on shares of FleetCor Technologies in a report on Thursday, September 27th. ValuEngine cut FleetCor Technologies from a “buy” rating to a “hold” rating in a report 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 report on Friday, July 20th. Finally, Wolfe Research assumed coverage on FleetCor Technologies in a report on Tuesday, July 17th. They issued an “outperform” rating for the company. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $234.89.
Shares of NYSE FLT opened at $199.82 on Friday. The stock has a market capitalization of $18.05 billion, a PE ratio of 25.36, a P/E/G ratio of 1.26 and a beta of 1.51. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.92 and a quick ratio of 0.88. FleetCor Technologies, Inc. has a fifty-two week low of $174.31 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, beating the Thomson Reuters’ consensus estimate of $2.66 by $0.02. The company had revenue of $619.60 million during 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%. FleetCor Technologies’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same quarter last year, the company earned $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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