Redpoint Investment Management Pty Ltd lifted its position in FleetCor Technologies, Inc. (NYSE:FLT) by 109.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,459 shares of the business services provider’s stock after acquiring an additional 1,806 shares during the period. Redpoint Investment Management Pty Ltd’s holdings in FleetCor Technologies were worth $971,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in FLT. Jennison Associates LLC boosted its holdings in shares of FleetCor Technologies by 12.5% during the second quarter. Jennison Associates LLC now owns 3,847,154 shares of the business services provider’s stock worth $1,080,473,000 after purchasing an additional 428,695 shares during the period. Achmea Investment Management B.V. acquired a new stake in shares of FleetCor Technologies during the second quarter worth approximately $499,000. Meridian Management Co. boosted its holdings in shares of FleetCor Technologies by 0.9% during the second quarter. Meridian Management Co. now owns 8,125 shares of the business services provider’s stock worth $2,282,000 after purchasing an additional 75 shares during the period. Great Lakes Advisors LLC acquired a new stake in shares of FleetCor Technologies during the second quarter worth approximately $211,000. Finally, Teacher Retirement System of Texas boosted its holdings in shares of FleetCor Technologies by 30.2% during the second quarter. Teacher Retirement System of Texas now owns 182,685 shares of the business services provider’s stock worth $51,307,000 after purchasing an additional 42,372 shares during the period. 94.48% of the stock is currently owned by institutional investors and hedge funds.

FLT has been the subject of several research reports. Oppenheimer raised their price target on shares of FleetCor Technologies from $265.00 to $270.00 and gave the stock an “outperform” rating in a report on Wednesday, May 8th. SunTrust Banks lifted their target price on shares of FleetCor Technologies to $320.00 and gave the company a “buy” rating in a research note on Thursday, June 13th. Robert W. Baird initiated coverage on shares of FleetCor Technologies in a research note on Wednesday, July 24th. They issued a “neutral” rating and a $302.00 target price for the company. Mizuho lifted their target price on shares of FleetCor Technologies from $245.00 to $247.00 and gave the company a “neutral” rating in a research note on Wednesday, May 8th. Finally, Goldman Sachs Group upgraded shares of FleetCor Technologies from a “neutral” rating to a “buy” rating and lifted their target price for the company from $243.00 to $305.00 in a research note on Wednesday, June 5th. Eight equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $269.27.

Shares of NYSE:FLT traded up $4.57 during trading on Thursday, reaching $300.12. The stock had a trading volume of 1,620 shares, compared to its average volume of 558,440. FleetCor Technologies, Inc. has a 52 week low of $172.18 and a 52 week high of $302.61. The firm has a market capitalization of $25.32 billion, a price-to-earnings ratio of 29.76, a P/E/G ratio of 1.68 and a beta of 1.16. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.70. The stock has a fifty day simple moving average of $289.79 and a two-hundred day simple moving average of $262.56.

FleetCor Technologies (NYSE:FLT) last released its quarterly earnings results on Tuesday, August 6th. The business services provider reported $2.69 EPS for the quarter, beating the Zacks’ consensus estimate of $2.64 by $0.05. FleetCor Technologies had a net margin of 35.29% and a return on equity of 26.37%. The company had revenue of $647.09 million for the quarter, compared to analyst estimates of $633.95 million. During the same quarter last year, the firm posted $2.57 earnings per share. The company’s quarterly revenue was up 10.6% compared to the same quarter last year. On average, analysts forecast that FleetCor Technologies, Inc. will post 11.15 EPS for the current year.

FleetCor Technologies Company Profile

FleetCor Technologies, Inc provides commercial payment solutions in North America, Latin America, Europe, and Australasia. The company offers fuel payment solutions to businesses and government entities that operate vehicle fleets, as well as to oil and leasing companies, and fuel marketers. Its fuel payment products are in the form of plastic cards, electronic RFID tags, and paper vouchers to purchase fuel, oil, vehicle maintenance supplies and services, and building supplies.

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

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