Envestnet Asset Management Inc. trimmed its stake in FleetCor Technologies, Inc. (NYSE:FLT) by 9.7% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 8,670 shares of the business services provider’s stock after selling 933 shares during the quarter. Envestnet Asset Management Inc.’s holdings in FleetCor Technologies were worth $1,342,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Commonwealth Bank of Australia grew its holdings in shares of FleetCor Technologies by 13.0% during the second quarter. Commonwealth Bank of Australia now owns 740 shares of the business services provider’s stock valued at $105,000 after buying an additional 85 shares in the last quarter. First Personal Financial Services grew 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 buying an additional 263 shares in the last quarter. Fiduciary Trust Co. purchased a new position in shares of FleetCor Technologies during the second quarter valued at $115,000. FNY Partners Fund LP purchased a new position in shares of FleetCor Technologies during the third quarter valued at $125,000. Finally, Toronto Dominion Bank grew its holdings in shares of FleetCor Technologies by 11.1% during the second quarter. Toronto Dominion Bank now owns 1,128 shares of the business services provider’s stock valued at $163,000 after buying an additional 113 shares in the last quarter. Institutional investors and hedge funds own 95.41% of the company’s stock.

FleetCor Technologies, Inc. (NYSE FLT) opened at $190.68 on Tuesday. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.84 and a quick ratio of 0.84. FleetCor Technologies, Inc. has a 52 week low of $121.52 and a 52 week high of $192.51. The company has a market capitalization of $17,026.40, a PE ratio of 25.73, a price-to-earnings-growth ratio of 1.39 and a beta of 1.53.

FleetCor Technologies (NYSE:FLT) last issued its earnings results on Wednesday, November 1st. The business services provider reported $2.18 EPS for the quarter, beating analysts’ consensus estimates of $2.14 by $0.04. FleetCor Technologies had a return on equity of 20.99% and a net margin of 25.66%. The firm had revenue of $577.90 million for the quarter, compared to the consensus estimate of $576.78 million. During the same quarter in the previous year, the company posted $1.92 earnings per share. The business’s quarterly revenue was up 19.3% compared to the same quarter last year. equities research analysts forecast that FleetCor Technologies, Inc. will post 7.76 EPS for the current fiscal year.

In other FleetCor Technologies news, insider Kurt Patrick Adams sold 7,099 shares of the business’s stock in a transaction dated Thursday, November 2nd. The stock was sold at an average price of $170.00, for a total value of $1,206,830.00. Following the transaction, the insider now owns 9,246 shares in the company, valued at $1,571,820. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 4.60% of the company’s stock.

A number of brokerages have recently weighed in on FLT. Zacks Investment Research downgraded FleetCor Technologies from a “buy” rating to a “hold” rating in a report on Tuesday, November 7th. Oppenheimer reiterated an “outperform” rating and set a $185.00 price target on shares of FleetCor Technologies in a report on Tuesday, September 26th. Barclays lifted their price target on FleetCor Technologies from $180.00 to $200.00 and gave the company an “overweight” rating in a report on Thursday, November 2nd. SunTrust Banks set a $180.00 price target on FleetCor Technologies and gave the company a “buy” rating in a report on Tuesday, October 24th. Finally, Morgan Stanley lifted their price target on FleetCor Technologies from $189.00 to $194.00 and gave the company an “overweight” rating in a report on Thursday, November 2nd. Two investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. FleetCor Technologies has an average rating of “Buy” and an average price target of $187.31.

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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.

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

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