IFM Investors Pty Ltd bought a new stake in shares of FleetCor Technologies, Inc. (NYSE:FLT) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 2,644 shares of the business services provider’s stock, valued at approximately $409,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Commonwealth Bank of Australia lifted its stake 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 valued at $105,000 after buying an additional 85 shares in the last quarter. First Personal Financial Services lifted its stake 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 buying an additional 263 shares in the last quarter. Fiduciary Trust Co. purchased a new position in shares of FleetCor Technologies during the 2nd quarter valued at $115,000. FNY Partners Fund LP purchased a new position in shares of FleetCor Technologies during the 3rd quarter valued at $125,000. Finally, Toronto Dominion Bank lifted its stake 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 buying an additional 113 shares in the last quarter. Institutional investors own 95.76% of the company’s stock.

In other news, insider Kurt Patrick Adams sold 7,099 shares of the business’s stock in a transaction dated Thursday, November 2nd. The shares were sold at an average price of $170.00, for a total value of $1,206,830.00. Following the sale, the insider now directly owns 9,246 shares in the company, valued at approximately $1,571,820. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 4.30% of the stock is owned by insiders.

Shares of FleetCor Technologies, Inc. (FLT) opened at $190.11 on Friday. The company has a market cap of $17,026.44, a price-to-earnings ratio of 25.73, a price-to-earnings-growth ratio of 1.39 and a beta of 1.53. FleetCor Technologies, Inc. has a one year low of $121.52 and a one year high of $192.51. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.86.

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

A number of research analysts recently weighed in on the stock. Deutsche Bank lifted their target price on shares of FleetCor Technologies from $185.00 to $225.00 and gave the company a “buy” rating in a research note on Tuesday, December 5th. Zacks Investment Research cut shares of FleetCor Technologies from a “buy” rating to a “hold” rating in a research note on Tuesday, November 7th. Barclays lifted their target price on shares of FleetCor Technologies from $180.00 to $200.00 and gave the company an “overweight” rating in a research note on Thursday, November 2nd. Morgan Stanley boosted their price target on shares of FleetCor Technologies from $189.00 to $194.00 and gave the stock an “overweight” rating in a research note on Thursday, November 2nd. Finally, Oppenheimer boosted their price target on shares of FleetCor Technologies from $185.00 to $194.00 and gave the stock an “outperform” rating in a research note on Thursday, November 2nd. Two 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 stock has an average rating of “Buy” and an average target price of $187.31.

WARNING: “IFM Investors Pty Ltd Takes Position in FleetCor Technologies, Inc. (FLT)” was originally reported by Watch List News and is the property of of Watch List News. If you are reading this news story on another domain, it was illegally stolen and republished in violation of United States & international copyright and trademark legislation. The original version of this news story can be viewed at https://www.watchlistnews.com/ifm-investors-pty-ltd-takes-position-in-fleetcor-technologies-inc-flt/1769455.html.

About FleetCor Technologies

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)

Receive News & Ratings for FleetCor Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FleetCor Technologies and related companies with Analyst Ratings Network's FREE daily email newsletter.