Raymond James Financial Services Advisors Inc. reduced its holdings in shares of FleetCor Technologies, Inc. (NYSE:FLT) by 47.1% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,290 shares of the business services provider’s stock after selling 2,038 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in FleetCor Technologies were worth $564,000 at the end of the most recent reporting period.
Other hedge funds have also made changes to their positions in the company. Everence Capital Management Inc. acquired a new stake in shares of FleetCor Technologies in the first quarter valued at about $602,000. CIBC Asset Management Inc increased its stake in shares of FleetCor Technologies by 0.6% in the first quarter. CIBC Asset Management Inc now owns 7,957 shares of the business services provider’s stock valued at $1,962,000 after buying an additional 46 shares during the period. Teacher Retirement System of Texas increased its stake in shares of FleetCor Technologies by 112.2% in the first quarter. Teacher Retirement System of Texas now owns 140,313 shares of the business services provider’s stock valued at $34,600,000 after buying an additional 74,204 shares during the period. Meridian Management Co. increased its stake in shares of FleetCor Technologies by 0.5% in the first quarter. Meridian Management Co. now owns 8,050 shares of the business services provider’s stock valued at $1,985,000 after buying an additional 44 shares during the period. Finally, Toronto Dominion Bank increased its stake in shares of FleetCor Technologies by 15.0% in the first quarter. Toronto Dominion Bank now owns 56,308 shares of the business services provider’s stock valued at $13,881,000 after buying an additional 7,339 shares during the period. Institutional investors and hedge funds own 93.73% of the company’s stock.
Several equities research analysts have recently weighed in on FLT shares. GMP Securities reissued an “average” rating and issued a $4.00 price target on shares of FleetCor Technologies in a research note on Wednesday, June 5th. Zacks Investment Research raised FleetCor Technologies from a “hold” rating to a “buy” rating and set a $279.00 price target for the company in a research note on Tuesday, April 2nd. BTIG Research increased their price target on FleetCor Technologies from $253.00 to $288.00 and gave the company a “buy” rating in a research note on Tuesday, April 2nd. Citigroup increased their price target on FleetCor Technologies from $235.00 to $280.00 and gave the company a “buy” rating in a research note on Tuesday, March 19th. Finally, Keefe, Bruyette & Woods reissued a “buy” rating and issued a $238.00 price target on shares of FleetCor Technologies in a research note on Wednesday, February 20th. Six analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. FleetCor Technologies currently has a consensus rating of “Buy” and a consensus target price of $246.64.
NYSE FLT opened at $272.88 on Friday. FleetCor Technologies, Inc. has a one year low of $172.18 and a one year high of $276.89. The company has a market cap of $23.05 billion, a P/E ratio of 27.48, a price-to-earnings-growth ratio of 1.57 and a beta of 1.16. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.77.
FleetCor Technologies (NYSE:FLT) last released its earnings results on Tuesday, May 7th. The business services provider reported $2.56 EPS for the quarter, topping the consensus estimate of $2.46 by $0.10. FleetCor Technologies had a return on equity of 26.56% and a net margin of 32.74%. The business had revenue of $621.80 million during the quarter, compared to analysts’ expectations of $608.40 million. During the same quarter last year, the firm posted $2.50 earnings per share. The firm’s revenue was up 6.2% on a year-over-year basis. As a group, research analysts predict that FleetCor Technologies, Inc. will post 11.1 EPS for the current fiscal year.
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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.
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