Commerce Bank grew its stake in shares of FleetCor Technologies, Inc. (NYSE:FLT) by 11.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,580 shares of the business services provider’s stock after acquiring an additional 159 shares during the quarter. Commerce Bank’s holdings in FleetCor Technologies were worth $228,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently bought and sold shares of the company. State of Alaska Department of Revenue acquired a new position in shares of FleetCor Technologies during the first quarter valued at about $104,000. First Personal Financial Services increased its holdings in shares of FleetCor Technologies by 49.9% during the second quarter. First Personal Financial Services now owns 790 shares of the business services provider’s stock valued at $114,000 after acquiring an additional 263 shares in the last quarter. Toronto Dominion Bank increased its holdings in shares of FleetCor Technologies by 26.6% during the first quarter. Toronto Dominion Bank now owns 1,015 shares of the business services provider’s stock valued at $154,000 after acquiring an additional 213 shares in the last quarter. Tower Research Capital LLC TRC increased its holdings in shares of FleetCor Technologies by 1.1% during the first quarter. Tower Research Capital LLC TRC now owns 1,059 shares of the business services provider’s stock valued at $160,000 after acquiring an additional 12 shares in the last quarter. Finally, Fulton Bank N.A. increased its holdings in shares of FleetCor Technologies by 7.9% during the second quarter. Fulton Bank N.A. now owns 1,426 shares of the business services provider’s stock valued at $206,000 after acquiring an additional 105 shares in the last quarter. Hedge funds and other institutional investors own 97.61% of the company’s stock.
Several equities analysts have recently issued reports on the stock. BidaskClub downgraded shares of FleetCor Technologies from a “hold” rating to a “sell” rating in a report on Thursday, August 10th. Keefe, Bruyette & Woods set a $202.00 price objective on shares of FleetCor Technologies and gave the company a “buy” rating in a report on Monday, August 7th. Zacks Investment Research upgraded shares of FleetCor Technologies from a “hold” rating to a “buy” rating and set a $160.00 price objective on the stock in a report on Tuesday, August 8th. Citigroup Inc. restated a “buy” rating and set a $180.00 price objective (up previously from $165.00) on shares of FleetCor Technologies in a report on Thursday, July 13th. Finally, Jefferies Group LLC restated a “buy” rating and set a $197.00 price objective on shares of FleetCor Technologies in a report on Wednesday, May 24th. Two equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. FleetCor Technologies presently has an average rating of “Buy” and an average price target of $180.86.
Shares of FleetCor Technologies, Inc. (NYSE FLT) opened at 144.93 on Wednesday. The stock has a market cap of $13.32 billion, a price-to-earnings ratio of 28.65 and a beta of 1.43. The company has a 50-day moving average price of $145.03 and a 200-day moving average price of $147.14. FleetCor Technologies, Inc. has a 12 month low of $121.52 and a 12 month high of $176.42.
FleetCor Technologies (NYSE:FLT) last released its quarterly earnings results on Thursday, August 3rd. The business services provider reported $1.83 EPS for the quarter, hitting the consensus estimate of $1.83. The company had revenue of $541.24 million for the quarter, compared to analyst estimates of $528.33 million. FleetCor Technologies had a return on equity of 20.87% and a net margin of 23.28%. The firm’s revenue was up 29.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.56 earnings per share. On average, analysts expect that FleetCor Technologies, Inc. will post $8.37 EPS for the current fiscal year.
FleetCor Technologies declared that its board has approved a stock repurchase program on Thursday, August 3rd that permits the company to buyback $250.00 million in outstanding shares. This buyback authorization permits the business services provider to buy up to 1.8% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.
In other FleetCor Technologies news, CEO Andrew Blazye sold 8,353 shares of FleetCor Technologies stock in a transaction that occurred on Thursday, August 31st. The stock was sold at an average price of $144.00, for a total transaction of $1,202,832.00. Following the transaction, the chief executive officer now owns 24,766 shares of the company’s stock, valued at $3,566,304. The transaction was disclosed in a filing with the SEC, which is available at this link. In the last ninety days, insiders have sold 15,758 shares of company stock worth $2,274,115. 4.60% of the stock is currently owned by corporate insiders.
FleetCor Technologies Company Profile
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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