American Century Companies Inc. Grows Stake in FleetCor Technologies, Inc. (FLT)

American Century Companies Inc. lifted its position in shares of FleetCor Technologies, Inc. (NYSE:FLT) by 28.9% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 673,345 shares of the business services provider’s stock after buying an additional 151,077 shares during the quarter. American Century Companies Inc. owned approximately 0.76% of FleetCor Technologies worth $153,415,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Korea Investment CORP raised its stake in FleetCor Technologies by 23.7% in the 2nd quarter. Korea Investment CORP now owns 30,292 shares of the business services provider’s stock valued at $6,381,000 after purchasing an additional 5,800 shares during the last quarter. Bank of Nova Scotia acquired a new position in FleetCor Technologies in the 2nd quarter valued at about $2,065,000. MetLife Investment Advisors LLC acquired a new position in FleetCor Technologies in the 2nd quarter valued at about $5,558,000. Legal & General Group Plc raised its stake in FleetCor Technologies by 2.0% in the 2nd quarter. Legal & General Group Plc now owns 377,429 shares of the business services provider’s stock valued at $79,505,000 after purchasing an additional 7,303 shares during the last quarter. Finally, Highland Capital Management LP acquired a new position in FleetCor Technologies in the 2nd quarter valued at about $421,000. 98.08% of the stock is owned by institutional investors and hedge funds.

FLT opened at $204.58 on Friday. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.92 and a quick ratio of 0.88. The stock has a market capitalization of $17.47 billion, a price-to-earnings ratio of 25.96, a price-to-earnings-growth ratio of 1.22 and a beta of 1.51. FleetCor Technologies, Inc. has a 12 month low of $174.31 and a 12 month high of $230.24.

FleetCor Technologies (NYSE:FLT) last posted its quarterly earnings results on Tuesday, October 30th. The business services provider reported $2.68 EPS for the quarter, beating the consensus estimate of $2.66 by $0.02. The company had revenue of $619.60 million during the quarter, compared to analysts’ expectations of $609.75 million. FleetCor Technologies had a return on equity of 24.22% and a net margin of 33.01%. The firm’s revenue was up 7.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.18 EPS. As a group, sell-side analysts forecast that FleetCor Technologies, Inc. will post 9.85 EPS for the current fiscal year.

FLT has been the subject of several analyst reports. Citigroup boosted their target price on shares of FleetCor Technologies from $240.00 to $260.00 and gave the company a “buy” rating in a research note on Friday, July 20th. ValuEngine downgraded shares of FleetCor Technologies from a “buy” rating to a “hold” rating in a research note on Friday, November 2nd. Deutsche Bank reissued a “buy” rating on shares of FleetCor Technologies in a research note on Thursday, September 27th. Zacks Investment Research downgraded shares of FleetCor Technologies from a “buy” rating to a “sell” rating in a research note on Wednesday, October 3rd. Finally, Wolfe Research initiated coverage on shares of FleetCor Technologies in a research note on Tuesday, July 17th. They issued an “outperform” rating for the company. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. FleetCor Technologies presently has a consensus rating of “Buy” and a consensus price target of $234.89.

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FleetCor Technologies Company 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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