FleetCor Technologies, Inc. (FLT) Position Lessened by Andra AP fonden
Andra AP fonden reduced its position in shares of FleetCor Technologies, Inc. (NYSE:FLT) by 4.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 7,900 shares of the business services provider’s stock after selling 400 shares during the period. Andra AP fonden’s holdings in FleetCor Technologies were worth $1,223,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Commonwealth Bank of Australia boosted its holdings 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 worth $105,000 after buying an additional 85 shares during the period. First Personal Financial Services boosted its holdings 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 worth $114,000 after buying an additional 263 shares during the period. Fiduciary Trust Co. bought a new stake in shares of FleetCor Technologies during the 2nd quarter worth $115,000. Toronto Dominion Bank boosted its holdings 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 worth $163,000 after buying an additional 113 shares during the period. Finally, Wilbanks Smith & Thomas Asset Management LLC bought a new stake in shares of FleetCor Technologies during the 2nd quarter worth $219,000.
In other FleetCor Technologies news, CEO Andrew Blazye sold 4,963 shares of the firm’s stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $145.00, for a total value of $719,635.00. Following the completion of the sale, the chief executive officer now owns 27,287 shares in the company, valued at approximately $3,956,615. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Kurt Patrick Adams sold 7,099 shares of the firm’s stock in a transaction dated 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 completion of the sale, the insider now owns 9,246 shares of the company’s stock, valued at approximately $1,571,820. The disclosure for this sale can be found here. Insiders have sold a total of 22,857 shares of company stock valued at $3,480,945 in the last quarter. 4.60% of the stock is currently owned by corporate insiders.
Several analysts recently issued reports on the stock. Barclays PLC upped their price objective on shares of FleetCor Technologies from $180.00 to $200.00 and gave the stock an “overweight” rating in a report on Thursday, November 2nd. Jefferies Group LLC reaffirmed a “buy” rating and set a $197.00 price objective on shares of FleetCor Technologies in a report on Saturday, September 16th. BidaskClub downgraded shares of FleetCor Technologies from a “hold” rating to a “sell” rating in a report on Thursday, August 10th. Oppenheimer Holdings, Inc. increased their price target on shares of FleetCor Technologies from $185.00 to $194.00 and gave the company an “outperform” rating in a report on Thursday, November 2nd. Finally, Keefe, Bruyette & Woods set a $202.00 price target on shares of FleetCor Technologies and gave the company a “buy” rating in a report on Monday, August 7th. Two 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. The company currently has a consensus rating of “Buy” and an average price target of $184.23.
FleetCor Technologies, Inc. (NYSE FLT) opened at $181.42 on Tuesday. The company has a market cap of $16,170.20, a PE ratio of 24.43, a PEG ratio of 1.32 and a beta of 1.50. FleetCor Technologies, Inc. has a 1-year low of $121.52 and a 1-year high of $183.61. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.86.
FleetCor Technologies (NYSE:FLT) last released its quarterly earnings data on Wednesday, November 1st. The business services provider reported $2.18 EPS for the quarter, topping analysts’ consensus estimates of $2.14 by $0.04. The company had revenue of $577.90 million during the quarter, compared to the consensus estimate of $576.78 million. FleetCor Technologies had a net margin of 25.66% and a return on equity of 20.99%. The firm’s revenue for the quarter was up 19.3% compared to the same quarter last year. During the same period last year, the firm earned $1.92 EPS. research analysts anticipate that FleetCor Technologies, Inc. will post 7.75 earnings per share for the current fiscal year.
FleetCor Technologies announced that its board has authorized a stock repurchase plan on Thursday, August 3rd that authorizes the company to repurchase $250.00 million in shares. This repurchase authorization authorizes the business services provider to reacquire up to 1.8% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its stock is undervalued.
FleetCor Technologies 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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