FDx Advisors Inc. grew its holdings in shares of FleetCor Technologies, Inc. (NYSE:FLT) by 5.9% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,568 shares of the business services provider’s stock after purchasing an additional 480 shares during the quarter. FDx Advisors Inc.’s holdings in FleetCor Technologies were worth $1,326,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Commonwealth Bank of Australia increased its position in shares of FleetCor Technologies by 13.0% during the 2nd quarter. Commonwealth Bank of Australia now owns 740 shares of the business services provider’s stock valued at $105,000 after purchasing an additional 85 shares during the last quarter. First Personal Financial Services increased its position in shares of FleetCor Technologies by 49.9% during the 2nd quarter. First Personal Financial Services now owns 790 shares of the business services provider’s stock valued at $114,000 after purchasing an additional 263 shares during the last quarter. Fiduciary Trust Co. purchased a new stake in shares of FleetCor Technologies during the 2nd quarter valued at about $115,000. Toronto Dominion Bank increased its position in shares of FleetCor Technologies by 11.1% during the 2nd quarter. Toronto Dominion Bank now owns 1,128 shares of the business services provider’s stock valued at $163,000 after purchasing an additional 113 shares during the last quarter. Finally, ZWJ Investment Counsel Inc. purchased a new stake in shares of FleetCor Technologies during the 3rd quarter valued at about $225,000.
In other FleetCor Technologies news, CEO Andrew Blazye sold 2,442 shares of the stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $144.00, for a total transaction of $351,648.00. Following the completion of the sale, the chief executive officer now directly owns 24,766 shares of the company’s stock, valued at approximately $3,566,304. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Kurt Patrick Adams sold 7,099 shares of the stock in a transaction that occurred on Thursday, November 2nd. The shares were sold at an average price of $170.00, for a total transaction of $1,206,830.00. Following the sale, the insider now directly owns 9,246 shares of the company’s stock, valued at $1,571,820. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 17,894 shares of company stock valued at $2,761,310. Insiders own 4.60% of the company’s stock.
FLT has been the subject of several research reports. Morgan Stanley upped their price target on shares of FleetCor Technologies from $184.00 to $189.00 and gave the company an “overweight” rating in a research report on Wednesday, October 18th. Zacks Investment Research lowered shares of FleetCor Technologies from a “buy” rating to a “hold” rating in a research report on Tuesday, November 7th. BidaskClub raised shares of FleetCor Technologies from a “sell” rating to a “hold” rating in a research report on Thursday, August 17th. SunTrust Banks, Inc. set a $180.00 price target on shares of FleetCor Technologies and gave the company a “buy” rating in a research report on Tuesday, October 24th. Finally, Credit Suisse Group reaffirmed an “outperform” rating on shares of FleetCor Technologies in a research report on Tuesday, September 5th. Two analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $184.23.
FleetCor Technologies, Inc. (NYSE FLT) traded down $2.74 during trading on Wednesday, reaching $178.68. 528,800 shares of the company traded hands, compared to its average volume of 1,174,050. The stock has a market cap of $16,000.00, a price-to-earnings ratio of 24.55, a price-to-earnings-growth ratio of 1.32 and a beta of 1.50. FleetCor Technologies, Inc. has a one year low of $121.52 and a one year high of $183.61. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.86.
FleetCor Technologies (NYSE:FLT) last released its earnings results on Wednesday, November 1st. The business services provider reported $2.18 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.14 by $0.04. The company had revenue of $577.90 million during the quarter, compared to analyst estimates of $576.78 million. FleetCor Technologies had a net margin of 25.66% and a return on equity of 20.99%. The firm’s quarterly revenue was up 19.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.92 EPS. analysts predict that FleetCor Technologies, Inc. will post 7.75 EPS for the current fiscal year.
FleetCor Technologies announced that its Board of Directors has initiated a share repurchase plan on Thursday, August 3rd that authorizes the company to buyback $250.00 million in shares. This buyback authorization authorizes the business services provider to repurchase up to 1.8% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.
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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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