Bridgeway Capital Management Inc. Takes $11.05 Million Position in FleetCor Technologies, Inc. (FLT)

Bridgeway Capital Management Inc. purchased a new stake in shares of FleetCor Technologies, Inc. (NYSE:FLT) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 48,500 shares of the business services provider’s stock, valued at approximately $11,050,000. Bridgeway Capital Management Inc. owned about 0.05% of FleetCor Technologies at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of FLT. Cambridge Investment Research Advisors Inc. boosted its stake in shares of FleetCor Technologies by 3.1% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 8,707 shares of the business services provider’s stock valued at $1,984,000 after purchasing an additional 260 shares during the period. IFP Advisors Inc boosted its stake in shares of FleetCor Technologies by 9.2% during the second quarter. IFP Advisors Inc now owns 3,501 shares of the business services provider’s stock valued at $737,000 after purchasing an additional 295 shares during the period. PNC Financial Services Group Inc. boosted its stake in shares of FleetCor Technologies by 14.6% during the second quarter. PNC Financial Services Group Inc. now owns 2,406 shares of the business services provider’s stock valued at $508,000 after purchasing an additional 307 shares during the period. Jaffetilchin Investment Partners LLC boosted its stake in shares of FleetCor Technologies by 34.6% during the second quarter. Jaffetilchin Investment Partners LLC now owns 2,137 shares of the business services provider’s stock valued at $450,000 after purchasing an additional 549 shares during the period. Finally, Rational Advisors LLC boosted its stake in shares of FleetCor Technologies by 895.2% during the third quarter. Rational Advisors LLC now owns 617 shares of the business services provider’s stock valued at $140,000 after purchasing an additional 555 shares during the period. Institutional investors and hedge funds own 98.30% of the company’s stock.

Shares of FLT stock opened at $191.68 on Friday. FleetCor Technologies, Inc. has a 52 week low of $177.71 and a 52 week high of $230.24. The firm has a market capitalization of $23.70 billion, a P/E ratio of 20.29, a price-to-earnings-growth ratio of 1.19 and a beta of 1.51. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.78.

FleetCor Technologies (NYSE:FLT) last posted its quarterly earnings data on Tuesday, October 30th. The business services provider reported $2.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.66 by $0.02. The business had revenue of $619.60 million during the quarter, compared to the consensus estimate of $609.75 million. FleetCor Technologies had a return on equity of 24.22% and a net margin of 33.01%. The firm’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.18 earnings per share. Sell-side analysts anticipate that FleetCor Technologies, Inc. will post 9.85 EPS for the current fiscal year.

A number of analysts recently commented on the company. Morgan Stanley raised their price target on FleetCor Technologies from $238.00 to $240.00 and gave the stock a “buy” rating in a research note on Friday, August 3rd. Zacks Investment Research raised FleetCor Technologies from a “hold” rating to a “buy” rating and set a $249.00 price target for the company in a research note on Tuesday, September 25th. Deutsche Bank reaffirmed a “buy” rating on shares of FleetCor Technologies in a research note on Thursday, September 27th. ValuEngine lowered FleetCor Technologies from a “buy” rating to a “hold” rating in a research note on Friday, November 2nd. Finally, Barclays assumed coverage on FleetCor Technologies in a research note on Wednesday, November 14th. They issued an “overweight” rating and a $245.00 price target for the company. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. FleetCor Technologies currently has an average rating of “Buy” and an average price target of $235.90.

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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.

Read More: Return on Equity (ROE)

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Institutional Ownership by Quarter for FleetCor Technologies (NYSE:FLT)

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