FLEETCOR Technologies (NYSE:FLT) Receives New Coverage from Analysts at StockNews.com

StockNews.com started coverage on shares of FLEETCOR Technologies (NYSE:FLT) in a note issued to investors on Thursday. The brokerage set a “buy” rating on the business services provider’s stock.

Other research analysts have also recently issued research reports about the stock. William Blair reissued an “outperform” rating on shares of FLEETCOR Technologies in a research report on Thursday, February 8th. BMO Capital Markets cut their price target on shares of FLEETCOR Technologies from $340.00 to $330.00 and set an “outperform” rating for the company in a report on Wednesday, February 14th. Citigroup upped their price objective on FLEETCOR Technologies from $300.00 to $325.00 and gave the company a “buy” rating in a report on Friday, January 12th. JPMorgan Chase & Co. raised their target price on FLEETCOR Technologies from $285.00 to $337.00 and gave the stock an “overweight” rating in a research note on Thursday, February 8th. Finally, Jefferies Financial Group lifted their target price on FLEETCOR Technologies from $325.00 to $330.00 and gave the company a “buy” rating in a research report on Wednesday, January 17th. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $299.67.

FLEETCOR Technologies Stock Performance

FLEETCOR Technologies has a 52-week low of $194.60 and a 52-week high of $309.39. The firm has a market capitalization of $21.90 billion, a price-to-earnings ratio of 22.97, a PEG ratio of 1.15 and a beta of 1.22. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 1.40. The stock’s fifty day simple moving average is $287.25 and its 200-day simple moving average is $267.25.

FLEETCOR Technologies (NYSE:FLT) last issued its earnings results on Wednesday, February 7th. The business services provider reported $4.44 earnings per share for the quarter, missing the consensus estimate of $4.48 by ($0.04). FLEETCOR Technologies had a return on equity of 37.56% and a net margin of 26.13%. The company had revenue of $937.32 million for the quarter, compared to analyst estimates of $967.01 million. During the same quarter in the prior year, the firm earned $3.83 earnings per share. The company’s revenue for the quarter was up 6.1% on a year-over-year basis. As a group, analysts predict that FLEETCOR Technologies will post 18.2 earnings per share for the current fiscal year.

Insider Buying and Selling at FLEETCOR Technologies

In related news, CEO Ronald Clarke sold 118,428 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $281.84, for a total value of $33,377,747.52. Following the completion of the transaction, the chief executive officer now directly owns 2,023,491 shares of the company’s stock, valued at $570,300,703.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Ronald Clarke sold 118,428 shares of the business’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $281.84, for a total value of $33,377,747.52. Following the completion of the sale, the chief executive officer now directly owns 2,023,491 shares of the company’s stock, valued at approximately $570,300,703.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Alissa B. Vickery sold 2,794 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $290.31, for a total value of $811,126.14. Following the transaction, the chief accounting officer now owns 1,885 shares in the company, valued at approximately $547,234.35. The disclosure for this sale can be found here. 6.50% of the stock is owned by insiders.

Institutional Trading of FLEETCOR Technologies

Large investors have recently bought and sold shares of the business. Mather Group LLC. purchased a new stake in shares of FLEETCOR Technologies in the first quarter valued at about $43,000. Grayhawk Investment Strategies Inc. acquired a new stake in FLEETCOR Technologies during the 4th quarter worth approximately $763,000. Goldman Sachs Group Inc. grew its stake in shares of FLEETCOR Technologies by 18.3% in the 4th quarter. Goldman Sachs Group Inc. now owns 412,425 shares of the business services provider’s stock valued at $116,555,000 after purchasing an additional 63,725 shares during the last quarter. EP Wealth Advisors LLC increased its holdings in shares of FLEETCOR Technologies by 17.6% in the fourth quarter. EP Wealth Advisors LLC now owns 3,066 shares of the business services provider’s stock valued at $866,000 after purchasing an additional 458 shares during the period. Finally, Public Employees Retirement System of Ohio lifted its holdings in shares of FLEETCOR Technologies by 4.6% during the fourth quarter. Public Employees Retirement System of Ohio now owns 40,020 shares of the business services provider’s stock worth $11,310,000 after purchasing an additional 1,755 shares during the period. Institutional investors and hedge funds own 98.84% of the company’s stock.

FLEETCOR Technologies Company Profile

FLEETCOR Technologies, Inc operates as a payments company that helps businesses and consumers manage vehicle-related expenses, lodging expenses, and corporate payments in the United States, Brazil, the United Kingdom, and internationally. It operates through Vehicle Payments, Corporate Payments, Lodging Payments, and Other segments.