Nationwide Fund Advisors Sells 13,900 Shares of FleetCor Technologies, Inc. (FLT)
Nationwide Fund Advisors cut its holdings in FleetCor Technologies, Inc. (NYSE:FLT) by 18.0% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 63,477 shares of the business services provider’s stock after selling 13,900 shares during the period. Nationwide Fund Advisors owned 0.07% of FleetCor Technologies worth $9,824,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in FLT. Commonwealth Bank of Australia raised its position in FleetCor Technologies by 13.0% in the second 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 during the period. First Personal Financial Services increased its position in shares of FleetCor Technologies by 49.9% during the second quarter. First Personal Financial Services now owns 790 shares of the business services provider’s stock worth $114,000 after acquiring an additional 263 shares during the period. Fiduciary Trust Co. purchased a new stake in shares of FleetCor Technologies during the second quarter worth $115,000. Toronto Dominion Bank increased its position in shares of FleetCor Technologies by 11.1% during the second quarter. Toronto Dominion Bank now owns 1,128 shares of the business services provider’s stock worth $163,000 after acquiring an additional 113 shares during the period. Finally, Oakbrook Investments LLC purchased a new stake in shares of FleetCor Technologies during the third quarter worth $233,000. Hedge funds and other institutional investors own 95.76% of the company’s stock.
In related news, insider Kurt Patrick Adams sold 7,099 shares of the 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 transaction, the insider now directly owns 9,246 shares of the company’s stock, valued at $1,571,820. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 4.30% of the company’s stock.
Shares of FleetCor Technologies, Inc. (FLT) opened at $184.48 on Thursday. FleetCor Technologies, Inc. has a 12 month low of $121.52 and a 12 month high of $186.04. The firm has a market cap of $16,467.54, a PE ratio of 24.88, a PEG ratio of 1.34 and a beta of 1.53. 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 announced its earnings results on Wednesday, November 1st. The business services provider reported $2.18 earnings per share for the quarter, topping the consensus estimate of $2.14 by $0.04. The business 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 business’s quarterly revenue was up 19.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.92 earnings per share. research analysts expect that FleetCor Technologies, Inc. will post 7.75 EPS for the current fiscal year.
A number of equities analysts recently commented on the stock. Deutsche Bank boosted their target price on shares of FleetCor Technologies from $185.00 to $225.00 and gave the stock a “buy” rating in a research note on Tuesday. Zacks Investment Research downgraded shares of FleetCor Technologies from a “buy” rating to a “hold” rating in a research note on Tuesday, November 7th. Barclays boosted their target price on shares of FleetCor Technologies from $180.00 to $200.00 and gave the stock an “overweight” rating in a research note on Thursday, November 2nd. Morgan Stanley boosted their target price 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 upped their price objective on shares of FleetCor Technologies from $185.00 to $194.00 and gave the company an “outperform” rating in a research note on Thursday, November 2nd. Two investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. FleetCor Technologies presently has a consensus rating of “Buy” and a consensus price target of $187.31.
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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.
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