Victory Capital Management Inc. grew its stake in shares of FleetCor Technologies, Inc. (NYSE:FLT) by 1.9% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 201,805 shares of the business services provider’s stock after acquiring an additional 3,774 shares during the quarter. Victory Capital Management Inc.’s holdings in FleetCor Technologies were worth $45,979,000 as of its most recent SEC filing.
Several other large investors also recently added to or reduced their stakes in FLT. Principal Financial Group Inc. increased its position in shares of FleetCor Technologies by 14.5% in the 1st quarter. Principal Financial Group Inc. now owns 14,700 shares of the business services provider’s stock valued at $2,976,000 after purchasing an additional 1,864 shares during the last quarter. DnB Asset Management AS purchased a new stake in shares of FleetCor Technologies in the 2nd quarter valued at approximately $2,327,000. IFM Investors Pty Ltd increased its position in shares of FleetCor Technologies by 43.2% in the 2nd quarter. IFM Investors Pty Ltd now owns 4,076 shares of the business services provider’s stock valued at $859,000 after purchasing an additional 1,230 shares during the last quarter. State of Alaska Department of Revenue increased its position in shares of FleetCor Technologies by 53.5% in the 2nd quarter. State of Alaska Department of Revenue now owns 14,430 shares of the business services provider’s stock valued at $3,038,000 after purchasing an additional 5,030 shares during the last quarter. Finally, Xact Kapitalforvaltning AB increased its position in shares of FleetCor Technologies by 15.8% in the 2nd quarter. Xact Kapitalforvaltning AB now owns 23,155 shares of the business services provider’s stock valued at $4,878,000 after purchasing an additional 3,153 shares during the last quarter. Hedge funds and other institutional investors own 98.08% of the company’s stock.
A number of equities research analysts have commented on FLT shares. Wolfe Research started coverage on shares of FleetCor Technologies in a research report on Tuesday, July 17th. They issued an “outperform” rating on the stock. Citigroup increased their price objective on shares of FleetCor Technologies from $240.00 to $260.00 and gave the company a “buy” rating in a research report on Friday, July 20th. Morgan Stanley increased their target price on shares of FleetCor Technologies from $238.00 to $240.00 and gave the company a “buy” rating in a research report on Friday, August 3rd. Zacks Investment Research raised shares of FleetCor Technologies from a “hold” rating to a “buy” rating and set a $249.00 target price on the stock in a research report on Tuesday, September 25th. Finally, Deutsche Bank reaffirmed a “buy” rating on shares of FleetCor Technologies in a research report on Thursday, September 27th. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $234.89.
Shares of FleetCor Technologies stock opened at $199.82 on Friday. FleetCor Technologies, Inc. has a 1 year low of $174.31 and a 1 year high of $230.24. 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 firm has a market cap of $18.05 billion, a price-to-earnings ratio of 21.48, a price-to-earnings-growth ratio of 1.26 and a beta of 1.51.
FleetCor Technologies (NYSE:FLT) last issued its quarterly earnings data on Tuesday, October 30th. The business services provider reported $2.68 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.66 by $0.02. FleetCor Technologies had a net margin of 33.01% and a return on equity of 24.22%. The company had revenue of $619.60 million for the quarter, compared to the consensus estimate of $609.75 million. During the same period last year, the firm posted $2.18 EPS. FleetCor Technologies’s revenue for the quarter was up 7.2% on a year-over-year basis. On average, research analysts forecast that FleetCor Technologies, Inc. will post 9.85 EPS for the current 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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