Bright Rock Capital Management LLC continued to hold its position in shares of FleetCor Technologies, Inc. (NYSE:FLT) during the second quarter, Holdings Channel reports. The fund owned 3,300 shares of the business services provider’s stock at the end of the second quarter. Bright Rock Capital Management LLC’s holdings in FleetCor Technologies were worth $476,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of FLT. State of Alaska Department of Revenue purchased a new position in shares of FleetCor Technologies during the first quarter worth about $104,000. Ropes Wealth Advisors LLC boosted its position in shares of FleetCor Technologies by 112.9% in the first quarter. Ropes Wealth Advisors LLC now owns 745 shares of the business services provider’s stock worth $113,000 after buying an additional 395 shares in the last quarter. Toronto Dominion Bank boosted its position in shares of FleetCor Technologies by 26.6% in the first quarter. Toronto Dominion Bank now owns 1,015 shares of the business services provider’s stock worth $154,000 after buying an additional 213 shares in the last quarter. Tower Research Capital LLC TRC boosted its position in shares of FleetCor Technologies by 1.1% in the first quarter. Tower Research Capital LLC TRC now owns 1,059 shares of the business services provider’s stock worth $160,000 after buying an additional 12 shares in the last quarter. Finally, Commerce Bank purchased a new position in shares of FleetCor Technologies during the first quarter worth about $215,000. Hedge funds and other institutional investors own 93.82% of the company’s stock.

FleetCor Technologies, Inc. (NYSE FLT) opened at 138.74 on Friday. FleetCor Technologies, Inc. has a 52 week low of $121.52 and a 52 week high of $176.42. The firm has a 50-day moving average of $147.11 and a 200-day moving average of $149.43. The company has a market cap of $12.75 billion, a price-to-earnings ratio of 27.43 and a beta of 1.45.

FleetCor Technologies (NYSE:FLT) last announced its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $528.33 million. FleetCor Technologies had a net margin of 23.28% and a return on equity of 20.87%. The company’s quarterly revenue was up 29.5% on a year-over-year basis. During the same quarter last year, the firm posted $1.56 EPS. Equities analysts forecast that FleetCor Technologies, Inc. will post $8.37 earnings per share for the current year.

FleetCor Technologies announced that its Board of Directors has approved a stock repurchase program on Thursday, August 3rd that authorizes the company to buyback $250.00 million in shares. This buyback authorization authorizes the business services provider to buy up to 1.8% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

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A number of brokerages recently issued reports on FLT. 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. BidaskClub cut shares of FleetCor Technologies from a “hold” rating to a “sell” rating in a report on Thursday. Zacks Investment Research upgraded shares of FleetCor Technologies from a “hold” rating to a “buy” rating and set a $160.00 price objective for the company in a report on Tuesday. 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, J P Morgan Chase & Co restated an “overweight” rating and set a $138.00 price objective on shares of FleetCor Technologies in a report on Thursday, May 4th. One research analyst has rated the stock with a sell rating, one has given a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $180.86.

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

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