Everence Capital Management Inc. Takes Position in FleetCor Technologies, Inc. (FLT)

Everence Capital Management Inc. purchased a new position in FleetCor Technologies, Inc. (NYSE:FLT) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,443 shares of the business services provider’s stock, valued at approximately $602,000.

Other large investors have also recently made changes to their positions in the company. JPMorgan Chase & Co. lifted its holdings in shares of FleetCor Technologies by 213.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 308,196 shares of the business services provider’s stock valued at $70,220,000 after purchasing an additional 209,806 shares in the last quarter. Legal & General Group Plc lifted its holdings in shares of FleetCor Technologies by 1.7% during the 3rd quarter. Legal & General Group Plc now owns 383,688 shares of the business services provider’s stock valued at $87,420,000 after purchasing an additional 6,259 shares in the last quarter. Morgan Stanley lifted its holdings in shares of FleetCor Technologies by 1.1% during the 3rd quarter. Morgan Stanley now owns 551,079 shares of the business services provider’s stock valued at $125,558,000 after purchasing an additional 5,981 shares in the last quarter. State of Alaska Department of Revenue lifted its holdings in shares of FleetCor Technologies by 3.1% during the 4th quarter. State of Alaska Department of Revenue now owns 14,742 shares of the business services provider’s stock valued at $2,737,000 after purchasing an additional 444 shares in the last quarter. Finally, Gateway Investment Advisers LLC lifted its holdings in shares of FleetCor Technologies by 1.0% during the 4th quarter. Gateway Investment Advisers LLC now owns 51,469 shares of the business services provider’s stock valued at $9,559,000 after purchasing an additional 509 shares in the last quarter. Institutional investors and hedge funds own 94.65% of the company’s stock.

Several research firms have recently weighed in on FLT. Oppenheimer lifted their price objective on FleetCor Technologies from $265.00 to $270.00 and gave the company an “outperform” rating in a report on Wednesday, May 8th. SunTrust Banks lifted their price objective on FleetCor Technologies to $300.00 and gave the company a “buy” rating in a report on Wednesday, May 8th. Mizuho lifted their price objective on FleetCor Technologies from $245.00 to $247.00 and gave the company a “neutral” rating in a report on Wednesday, May 8th. Jefferies Financial Group set a $250.00 price objective on FleetCor Technologies and gave the company a “hold” rating in a report on Tuesday, April 23rd. Finally, Zacks Investment Research cut FleetCor Technologies from a “buy” rating to a “hold” rating in a report on Tuesday, April 9th. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $255.33.

NYSE FLT opened at $264.18 on Thursday. The company has a market capitalization of $22.16 billion, a price-to-earnings ratio of 26.60, a PEG ratio of 1.40 and a beta of 1.24. The company has a current ratio of 0.91, a quick ratio of 0.86 and a debt-to-equity ratio of 0.77. FleetCor Technologies, Inc. has a 52 week low of $172.18 and a 52 week high of $268.71.

FleetCor Technologies (NYSE:FLT) last released its earnings results on Tuesday, May 7th. The business services provider reported $2.56 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.46 by $0.10. The firm had revenue of $621.80 million for the quarter, compared to analysts’ expectations of $608.40 million. FleetCor Technologies had a return on equity of 26.56% and a net margin of 32.74%. The business’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.50 EPS. As a group, equities analysts expect that FleetCor Technologies, Inc. will post 11.1 EPS for the current year.

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FleetCor Technologies 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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Institutional Ownership by Quarter for FleetCor Technologies (NYSE:FLT)

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