King Luther Capital Management Corp Has $342,000 Holdings in FLEETCOR Technologies, Inc. (NYSE:FLT)

King Luther Capital Management Corp grew its position in shares of FLEETCOR Technologies, Inc. (NYSE:FLTGet Rating) by 83.7% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 1,629 shares of the business services provider’s stock after acquiring an additional 742 shares during the period. King Luther Capital Management Corp’s holdings in FLEETCOR Technologies were worth $342,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Deseret Mutual Benefit Administrators acquired a new stake in shares of FLEETCOR Technologies during the 2nd quarter valued at about $26,000. Covestor Ltd lifted its holdings in shares of FLEETCOR Technologies by 253.1% during the 1st quarter. Covestor Ltd now owns 113 shares of the business services provider’s stock valued at $28,000 after buying an additional 81 shares during the last quarter. Clear Street Markets LLC lifted its holdings in shares of FLEETCOR Technologies by 393.9% during the 2nd quarter. Clear Street Markets LLC now owns 163 shares of the business services provider’s stock valued at $34,000 after buying an additional 130 shares during the last quarter. Lazard Asset Management LLC acquired a new stake in shares of FLEETCOR Technologies during the 1st quarter valued at about $35,000. Finally, Bartlett & Co. LLC lifted its holdings in shares of FLEETCOR Technologies by 375.7% during the 2nd quarter. Bartlett & Co. LLC now owns 176 shares of the business services provider’s stock valued at $37,000 after buying an additional 139 shares during the last quarter. 91.52% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other FLEETCOR Technologies news, insider Alan King sold 1,379 shares of FLEETCOR Technologies stock in a transaction that occurred on Monday, September 12th. The stock was sold at an average price of $223.38, for a total value of $308,041.02. Following the transaction, the insider now directly owns 9,250 shares of the company’s stock, valued at approximately $2,066,265. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 6.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on FLT shares. Barclays reduced their price target on FLEETCOR Technologies from $290.00 to $266.00 and set an “overweight” rating for the company in a report on Sunday, November 6th. Robert W. Baird reduced their price target on FLEETCOR Technologies from $250.00 to $220.00 and set a “neutral” rating for the company in a report on Monday, September 26th. Keefe, Bruyette & Woods cut their price objective on FLEETCOR Technologies from $335.00 to $230.00 in a research note on Monday, October 10th. Mizuho cut their price objective on FLEETCOR Technologies from $256.00 to $220.00 and set a “neutral” rating on the stock in a research note on Monday, November 14th. Finally, StockNews.com started coverage on FLEETCOR Technologies in a research note on Wednesday, October 12th. They issued a “hold” rating on the stock. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $243.08.

FLEETCOR Technologies Stock Performance

Shares of NYSE FLT opened at $189.83 on Thursday. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 2.13. The business’s 50 day moving average is $183.63 and its two-hundred day moving average is $209.63. The company has a market cap of $14.00 billion, a P/E ratio of 15.65, a P/E/G ratio of 0.80 and a beta of 1.22. FLEETCOR Technologies, Inc. has a 12 month low of $161.69 and a 12 month high of $265.30.

About FLEETCOR Technologies

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FLEETCOR Technologies, Inc provides digital payment solutions for businesses to control purchases and make payments. It offers corporate payments solutions, such as accounts payable automation; Virtual Card, which provides a single-use card number for a specific amount usable within a defined timeframe; Cross-Border that is used by its customers to pay international vendors, foreign office and personnel expenses, capital expenditures, and profit repatriation and dividends; and purchasing cards and travel and entertainment cards for its customers to analyze and manage their corporate spending.

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

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