Alta Capital Management LLC boosted its stake in FleetCor Technologies, Inc. (NYSE:FLT) by 2.4% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 100,062 shares of the business services provider’s stock after buying an additional 2,310 shares during the period. Alta Capital Management LLC’s holdings in FleetCor Technologies were worth $14,429,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of the company. Parametrica Management Ltd purchased a new position in FleetCor Technologies during the first quarter valued at $243,000. Capstone Asset Management Co. boosted its position in FleetCor Technologies by 20.9% in the first quarter. Capstone Asset Management Co. now owns 2,428 shares of the business services provider’s stock valued at $368,000 after buying an additional 420 shares during the last quarter. Gradient Investments LLC purchased a new position in FleetCor Technologies during the first quarter valued at $277,000. National Pension Service boosted its position in FleetCor Technologies by 19.6% in the first quarter. National Pension Service now owns 84,796 shares of the business services provider’s stock valued at $12,558,000 after buying an additional 13,910 shares during the last quarter. Finally, Gulf International Bank UK Ltd boosted its position in FleetCor Technologies by 1.4% in the first quarter. Gulf International Bank UK Ltd now owns 28,350 shares of the business services provider’s stock valued at $4,293,000 after buying an additional 400 shares during the last quarter. Hedge funds and other institutional investors own 95.28% of the company’s stock.
FleetCor Technologies, Inc. (NYSE FLT) traded down 0.22% during trading on Monday, hitting $144.78. 652,536 shares of the stock traded hands. FleetCor Technologies, Inc. has a one year low of $121.52 and a one year high of $176.42. The company has a market capitalization of $13.36 billion, a P/E ratio of 29.61 and a beta of 1.44. The company’s 50 day moving average is $142.63 and its 200 day moving average is $149.31.
FleetCor Technologies (NYSE:FLT) last issued its quarterly earnings results on Monday, May 1st. The business services provider reported $1.96 EPS for the quarter, topping the consensus estimate of $1.87 by $0.09. FleetCor Technologies had a net margin of 23.89% and a return on equity of 20.20%. The firm had revenue of $520.43 million for the quarter, compared to analysts’ expectations of $514.56 million. During the same period in the previous year, the firm posted $1.53 EPS. The company’s revenue for the quarter was up 25.6% on a year-over-year basis. On average, equities analysts forecast that FleetCor Technologies, Inc. will post $8.34 EPS for the current fiscal year.
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Several equities analysts have weighed in on the stock. Jefferies Group LLC set a $197.00 price objective on shares of FleetCor Technologies and gave the stock a “buy” rating in a research report on Thursday, March 16th. Morgan Stanley reiterated an “overweight” rating and set a $184.00 price objective on shares of FleetCor Technologies in a research report on Monday, April 3rd. Deutsche Bank AG reiterated a “buy” rating and set a $185.00 price objective on shares of FleetCor Technologies in a research report on Monday, April 24th. Raymond James Financial, Inc. upgraded shares of FleetCor Technologies from an “outperform” rating to a “strong-buy” rating and set a $180.00 price objective on the stock in a research report on Tuesday, May 2nd. Finally, Citigroup Inc. upgraded shares of FleetCor Technologies from an “outperform” rating to a “strong-buy” rating and set a $180.00 price objective on the stock in a research report on Tuesday, May 2nd. One investment analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $177.07.
In other FleetCor Technologies news, CEO Armando Lins Netto purchased 750 shares of the business’s stock in a transaction on Tuesday, May 9th. The shares were purchased at an average cost of $133.44 per share, with a total value of $100,080.00. Following the transaction, the chief executive officer now directly owns 4,710 shares of the company’s stock, valued at approximately $628,502.40. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Alexey Gavrilenya purchased 5,000 shares of the business’s stock in a transaction on Thursday, May 11th. The shares were acquired at an average cost of $138.50 per share, for a total transaction of $692,500.00. Following the completion of the transaction, the insider now directly owns 5,000 shares in the company, valued at $692,500. The disclosure for this purchase can be found here. Insiders have acquired a total of 8,850 shares of company stock worth $1,208,985 over the last three months. Insiders own 4.30% of the company’s stock.
About FleetCor Technologies
FleetCor Technologies, Inc is a provider of workforce payment products. The Company offers fuel card payments product solutions, corporate payments products, toll products, lodging cards and gift cards. The Company operates through two segments: North America and International. Its products are sold to businesses, retailers, oil companies and marketers and government entities.
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