FleetCor Technologies, Inc. (FLT) Shares Bought by Schwab Charles Investment Management Inc.
Schwab Charles Investment Management Inc. raised its holdings in FleetCor Technologies, Inc. (NYSE:FLT) by 5.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 203,343 shares of the business services provider’s stock after purchasing an additional 10,675 shares during the quarter. Schwab Charles Investment Management Inc. owned 0.23% of FleetCor Technologies worth $31,472,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Commonwealth Bank of Australia boosted its holdings in shares of FleetCor Technologies by 13.0% in the 2nd quarter. Commonwealth Bank of Australia now owns 740 shares of the business services provider’s stock valued at $105,000 after purchasing an additional 85 shares in the last quarter. 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 valued at $114,000 after acquiring an additional 263 shares in the last quarter. Fiduciary Trust Co. acquired a new stake in shares of FleetCor Technologies during the 2nd quarter valued at $115,000. FNY Partners Fund LP acquired a new stake in shares of FleetCor Technologies during the 3rd quarter valued at $125,000. Finally, 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 valued at $163,000 after acquiring an additional 113 shares in the last quarter. 95.76% of the stock is currently owned by hedge funds and other institutional investors.
In other news, insider Kurt Patrick Adams sold 7,099 shares of FleetCor Technologies 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 completion of the transaction, the insider now directly owns 9,246 shares of the company’s stock, valued at approximately $1,571,820. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 4.60% of the company’s stock.
FleetCor Technologies (NYSE:FLT) last posted its quarterly earnings data on Wednesday, November 1st. The business services provider reported $2.18 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate 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 during the quarter, compared to analyst estimates of $576.78 million. During the same period last year, the company posted $1.92 EPS. The business’s quarterly revenue was up 19.3% on a year-over-year basis. equities analysts anticipate that FleetCor Technologies, Inc. will post 7.75 earnings per share for the current fiscal year.
FLT has been the topic of several recent research reports. Zacks Investment Research downgraded FleetCor Technologies from a “buy” rating to a “hold” rating in a report on Tuesday, November 7th. Morgan Stanley raised their price objective on FleetCor Technologies from $184.00 to $189.00 and gave the company an “overweight” rating in a report on Wednesday, October 18th. SunTrust Banks set a $180.00 price objective on FleetCor Technologies and gave the company a “buy” rating in a report on Tuesday, October 24th. BidaskClub raised FleetCor Technologies from a “sell” rating to a “hold” rating in a report on Thursday, August 17th. Finally, Credit Suisse Group reaffirmed an “outperform” rating on shares of FleetCor Technologies in a research report on Tuesday, September 5th. Two research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $187.31.
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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