Oppenheimer Asset Management Inc. reduced its stake in shares of FleetCor Technologies, Inc. (NYSE:FLT) by 6.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 14,497 shares of the business services provider’s stock after selling 1,050 shares during the period. Oppenheimer Asset Management Inc.’s holdings in FleetCor Technologies were worth $2,692,000 at the end of the most recent quarter.
A number of other large investors also recently made changes to their positions in FLT. Schroder Investment Management Group raised its position in shares of FleetCor Technologies by 18.4% during the second quarter. Schroder Investment Management Group now owns 127,400 shares of the business services provider’s stock worth $26,871,000 after acquiring an additional 19,800 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in FleetCor Technologies by 146.2% during the second quarter. Bank of New York Mellon Corp now owns 892,986 shares of the business services provider’s stock worth $188,107,000 after acquiring an additional 530,211 shares in the last quarter. DNB Asset Management AS raised its holdings in FleetCor Technologies by 6.7% during the third quarter. DNB Asset Management AS now owns 11,784 shares of the business services provider’s stock worth $2,685,000 after acquiring an additional 738 shares in the last quarter. Iberiabank Corp bought a new stake in FleetCor Technologies during the third quarter worth about $233,000. Finally, Bank of Montreal Can raised its holdings in FleetCor Technologies by 12.2% during the third quarter. Bank of Montreal Can now owns 73,417 shares of the business services provider’s stock worth $16,728,000 after acquiring an additional 7,987 shares in the last quarter. 70.10% of the stock is owned by institutional investors and hedge funds.
Several analysts recently issued reports on the company. ValuEngine upgraded FleetCor Technologies from a “hold” rating to a “buy” rating in a report on Friday. Zacks Investment Research upgraded FleetCor Technologies from a “sell” rating to a “hold” rating in a research note on Monday, February 4th. Jefferies Financial Group initiated coverage on FleetCor Technologies in a research note on Monday, January 28th. They set a “hold” rating and a $210.00 target price on the stock. BTIG Research initiated coverage on FleetCor Technologies in a research note on Thursday, January 17th. They set a “buy” rating and a $253.00 target price on the stock. Finally, Keefe, Bruyette & Woods reiterated a “buy” rating and set a $214.00 target price on shares of FleetCor Technologies in a research note on Monday, January 7th. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $231.00.
Shares of NYSE FLT traded up $1.57 during mid-day trading on Monday, hitting $218.82. 35,238 shares of the stock traded hands, compared to its average volume of 565,480. The company has a quick ratio of 0.92, a current ratio of 0.86 and a debt-to-equity ratio of 0.82. FleetCor Technologies, Inc. has a twelve month low of $172.18 and a twelve month high of $230.24. The company has a market cap of $26.69 billion, a price-to-earnings ratio of 22.04, a price-to-earnings-growth ratio of 1.25 and a beta of 1.29.
FleetCor Technologies (NYSE:FLT) last released its quarterly earnings data on Wednesday, February 6th. The business services provider reported $2.64 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.72 by ($0.08). The firm had revenue of $643.40 million for the quarter, compared to analyst estimates of $620.45 million. FleetCor Technologies had a net margin of 33.35% and a return on equity of 25.73%. The company’s revenue was up 5.5% compared to the same quarter last year. During the same period last year, the business earned $2.42 EPS. On average, research analysts anticipate that FleetCor Technologies, Inc. will post 10.87 earnings per share for the current fiscal year.
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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