Riverhead Capital Management LLC Trims Holdings in FleetCor Technologies, Inc. (NYSE:FLT)

Riverhead Capital Management LLC lowered its stake in shares of FleetCor Technologies, Inc. (NYSE:FLT) by 12.8% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,866 shares of the business services provider’s stock after selling 567 shares during the quarter. Riverhead Capital Management LLC’s holdings in FleetCor Technologies were worth $1,086,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Quantamental Technologies LLC acquired a new stake in shares of FleetCor Technologies in the first quarter valued at about $25,000. Bray Capital Advisors purchased a new position in FleetCor Technologies in the 2nd quarter valued at about $25,000. Meeder Asset Management Inc. acquired a new stake in shares of FleetCor Technologies during the 2nd quarter worth about $30,000. Motco purchased a new stake in FleetCor Technologies in the 2nd quarter worth approximately $33,000. Finally, Advisory Services Network LLC grew its position in shares of FleetCor Technologies by 94.2% in the second quarter. Advisory Services Network LLC now owns 134 shares of the business services provider’s stock valued at $38,000 after purchasing an additional 65 shares during the period. 93.78% of the stock is currently owned by institutional investors and hedge funds.

FLT traded down $6.30 on Tuesday, hitting $284.25. 7,182 shares of the stock traded hands, compared to its average volume of 434,869. The business has a fifty day moving average price of $291.59 and a two-hundred day moving average price of $267.19. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.70. The firm has a market capitalization of $24.71 billion, a PE ratio of 28.79, a P/E/G ratio of 1.74 and a beta of 1.12. FleetCor Technologies, Inc. has a 52 week low of $172.18 and a 52 week high of $304.65.

FleetCor Technologies (NYSE:FLT) last announced its earnings results on Tuesday, August 6th. The business services provider reported $2.69 EPS for the quarter, topping the consensus estimate of $2.64 by $0.05. FleetCor Technologies had a return on equity of 26.37% and a net margin of 35.29%. The company had revenue of $647.09 million for the quarter, compared to analysts’ expectations of $633.95 million. During the same quarter in the prior year, the business earned $2.57 earnings per share. The business’s revenue for the quarter was up 10.6% on a year-over-year basis. On average, equities research analysts forecast that FleetCor Technologies, Inc. will post 11.13 EPS for the current fiscal year.

Several equities research analysts have commented on the company. Barclays set a $340.00 price target on FleetCor Technologies and gave the stock a “buy” rating in a research note on Monday, August 12th. Morgan Stanley lowered FleetCor Technologies from an “overweight” rating to an “equal weight” rating and upped their target price for the company from $240.00 to $284.00 in a research report on Thursday, July 11th. Citigroup raised their price objective on shares of FleetCor Technologies from $300.00 to $340.00 and gave the stock a “buy” rating in a report on Monday. Deutsche Bank boosted their target price on shares of FleetCor Technologies from $265.00 to $305.00 and gave the stock a “buy” rating in a research report on Friday, June 21st. Finally, BTIG Research reaffirmed a “buy” rating and set a $340.00 price target on shares of FleetCor Technologies in a research report on Monday, July 8th. Eight equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $274.20.

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.

Further Reading: Price to Earnings Ratio (PE) Basics

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

Receive News & Ratings for FleetCor Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FleetCor Technologies and related companies with MarketBeat.com's FREE daily email newsletter.