CIBC Asset Management Inc continued to hold its position in FleetCor Technologies, Inc. (NYSE:FLT) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,454 shares of the business services provider’s stock at the end of the second quarter. CIBC Asset Management Inc’s holdings in FleetCor Technologies were worth $498,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of the company. Tower Research Capital LLC TRC increased its position in 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 during the last quarter. Boston Private Wealth LLC increased its position in FleetCor Technologies by 1.8% in the first quarter. Boston Private Wealth LLC now owns 1,517 shares of the business services provider’s stock worth $230,000 after buying an additional 27 shares during the last quarter. Sumitomo Mitsui Asset Management Company LTD increased its position in FleetCor Technologies by 0.7% in the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 6,912 shares of the business services provider’s stock worth $996,000 after buying an additional 48 shares during the last quarter. Nordea Investment Management AB increased its position in FleetCor Technologies by 2.0% in the first quarter. Nordea Investment Management AB now owns 2,740 shares of the business services provider’s stock worth $415,000 after buying an additional 53 shares during the last quarter. Finally, Pacer Advisors Inc. increased its position in FleetCor Technologies by 3.5% in the first quarter. Pacer Advisors Inc. now owns 1,961 shares of the business services provider’s stock worth $297,000 after buying an additional 66 shares during the last quarter. 94.53% of the stock is currently owned by institutional investors and hedge funds.

Shares of FleetCor Technologies, Inc. (NYSE:FLT) opened at 143.22 on Wednesday. The stock has a market capitalization of $13.16 billion, a PE ratio of 28.32 and a beta of 1.45. The firm has a 50-day moving average price of $146.99 and a 200-day moving average price of $149.26. FleetCor Technologies, Inc. has a 1-year low of $121.52 and a 1-year high of $176.42.

FleetCor Technologies (NYSE:FLT) last released its quarterly earnings data on Thursday, August 3rd. The business services provider reported $1.83 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.83. The business had revenue of $541.24 million during the quarter, compared to analysts’ expectations of $528.33 million. FleetCor Technologies had a return on equity of 20.87% and a net margin of 23.28%. The business’s quarterly revenue was up 29.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.56 EPS. On average, equities research analysts forecast that FleetCor Technologies, Inc. will post $8.37 earnings per share for the current year.

FleetCor Technologies declared that its board has initiated a stock buyback program on Thursday, August 3rd that allows the company to buyback $250.00 million in shares. This buyback authorization allows the business services provider to purchase up to 1.8% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board believes its stock is undervalued.

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FLT has been the topic of a number of recent research reports. Citigroup Inc. raised 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. William Blair reaffirmed an “outperform” rating on shares of FleetCor Technologies in a research report on Wednesday, July 12th. Jefferies Group LLC reaffirmed a “buy” rating and set a $197.00 price objective on shares of FleetCor Technologies in a research report on Wednesday, May 24th. Keefe, Bruyette & Woods set a $202.00 price objective on FleetCor Technologies and gave the company a “buy” rating in a research report on Monday, August 7th. Finally, BidaskClub downgraded FleetCor Technologies from a “hold” rating to a “sell” rating in a research report on Thursday, August 10th. 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 given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $180.86.

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

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