Rhumbline Advisers Raises Position in FLEETCOR Technologies, Inc. (NYSE:FLT)

Rhumbline Advisers grew its holdings in FLEETCOR Technologies, Inc. (NYSE:FLTGet Rating) by 8.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 134,433 shares of the business services provider’s stock after purchasing an additional 9,996 shares during the quarter. Rhumbline Advisers owned about 0.17% of FLEETCOR Technologies worth $28,246,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Covestor Ltd lifted its stake in FLEETCOR Technologies by 253.1% in the 1st quarter. Covestor Ltd now owns 113 shares of the business services provider’s stock worth $28,000 after purchasing an additional 81 shares in the last quarter. Deseret Mutual Benefit Administrators acquired a new stake in shares of FLEETCOR Technologies during the 2nd quarter worth approximately $26,000. Lazard Asset Management LLC acquired a new stake in shares of FLEETCOR Technologies during the 1st quarter worth approximately $35,000. Clear Street Markets LLC increased 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 worth $34,000 after buying an additional 130 shares during the last quarter. Finally, Bartlett & Co. LLC increased 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 worth $37,000 after buying an additional 139 shares during the last quarter. 91.52% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on FLT. Truist Financial cut their price target on shares of FLEETCOR Technologies from $275.00 to $225.00 and set a “buy” rating for the company in a report on Thursday, October 13th. Barclays cut their price target on shares of FLEETCOR Technologies from $290.00 to $266.00 and set an “overweight” rating for the company in a report on Sunday, November 6th. Bank of America downgraded shares of FLEETCOR Technologies from a “buy” rating to a “neutral” rating and dropped their target price for the company from $278.00 to $203.00 in a report on Thursday, October 20th. Wells Fargo & Company dropped their target price on shares of FLEETCOR Technologies from $298.00 to $274.00 and set an “overweight” rating for the company in a report on Thursday, September 8th. Finally, Keefe, Bruyette & Woods dropped their target price on shares of FLEETCOR Technologies from $335.00 to $230.00 in a report on Monday, October 10th. Seven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $243.08.

Insiders Place Their Bets

In other FLEETCOR Technologies news, insider Alan King sold 1,379 shares of the business’s stock in a transaction on Monday, September 12th. The shares were sold at an average price of $223.38, for a total value of $308,041.02. Following the completion of the transaction, the insider now owns 9,250 shares in the company, valued at $2,066,265. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 6.60% of the company’s stock.

FLEETCOR Technologies Stock Performance

NYSE:FLT opened at $189.83 on Thursday. The company has a fifty day simple moving average of $183.63 and a two-hundred day simple moving average of $209.63. The company has a market cap of $14.00 billion, a price-to-earnings ratio of 15.65, a price-to-earnings-growth ratio of 0.80 and a beta of 1.22. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 2.13. FLEETCOR Technologies, Inc. has a 52 week low of $161.69 and a 52 week high of $265.30.

FLEETCOR Technologies Company Profile

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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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