Crescent Park Management L.P. lessened its holdings in shares of FleetCor Technologies, Inc. (NYSE:FLT) by 55.9% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 69,301 shares of the business services provider’s stock after selling 88,000 shares during the quarter. FleetCor Technologies accounts for 3.5% of Crescent Park Management L.P.’s portfolio, making the stock its 14th largest position. Crescent Park Management L.P. owned 0.08% of FleetCor Technologies worth $19,463,000 as of its most recent SEC filing.
A number of other hedge funds have also bought and sold shares of the business. Jennison Associates LLC grew its position in shares of FleetCor Technologies by 12.5% during the second quarter. Jennison Associates LLC now owns 3,847,154 shares of the business services provider’s stock worth $1,080,473,000 after buying an additional 428,695 shares in the last quarter. Geode Capital Management LLC boosted its stake in FleetCor Technologies by 5.6% during the 4th quarter. Geode Capital Management LLC now owns 1,099,152 shares of the business services provider’s stock valued at $203,758,000 after acquiring an additional 58,255 shares during the last quarter. Northern Trust Corp grew its holdings in FleetCor Technologies by 3.1% during the 2nd quarter. Northern Trust Corp now owns 957,663 shares of the business services provider’s stock worth $268,960,000 after acquiring an additional 28,754 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in FleetCor Technologies by 2.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 867,625 shares of the business services provider’s stock worth $243,672,000 after acquiring an additional 17,785 shares in the last quarter. Finally, NN Investment Partners Holdings N.V. grew its holdings in FleetCor Technologies by 52.2% during the 2nd quarter. NN Investment Partners Holdings N.V. now owns 624,816 shares of the business services provider’s stock worth $175,479,000 after acquiring an additional 214,266 shares in the last quarter. Institutional investors own 93.78% of the company’s stock.
A number of brokerages have recently issued reports on FLT. Robert W. Baird upped their target price on shares of FleetCor Technologies from $302.00 to $316.00 and gave the company a “neutral” rating in a research note on Thursday, September 5th. Goldman Sachs Group raised shares of FleetCor Technologies from a “neutral” rating to a “buy” rating and boosted their target price for the company from $243.00 to $305.00 in a research note on Wednesday, June 5th. Barclays set a $340.00 target price on shares of FleetCor Technologies and gave the stock a “buy” rating in a research report on Monday, August 12th. Citigroup raised their price target on shares of FleetCor Technologies from $300.00 to $340.00 and gave the company a “buy” rating in a research note on Monday. Finally, BTIG Research restated a “buy” rating and issued a $340.00 price target on shares of FleetCor Technologies in a research note on Monday, July 8th. Eight research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $274.20.
FLT traded down $0.40 during trading on Wednesday, reaching $285.86. The stock had a trading volume of 53,903 shares, compared to its average volume of 447,252. The stock has a 50 day moving average of $291.45 and a two-hundred day moving average of $267.49. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.70. The firm has a market capitalization of $25.15 billion, a price-to-earnings ratio of 28.79, a price-to-earnings-growth ratio of 1.67 and a beta of 1.13. FleetCor Technologies, Inc. has a 1-year low of $172.18 and a 1-year high of $304.65.
FleetCor Technologies (NYSE:FLT) last announced its earnings results on Tuesday, August 6th. The business services provider reported $2.69 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.64 by $0.05. The business had revenue of $647.09 million during the quarter, compared to analysts’ expectations of $633.95 million. FleetCor Technologies had a return on equity of 26.37% and a net margin of 35.29%. The company’s quarterly revenue was up 10.6% on a year-over-year basis. During the same quarter last year, the business posted $2.57 earnings per share. On average, research analysts forecast that FleetCor Technologies, Inc. will post 11.15 EPS 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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