Raymond James Trust N.A. Purchases Shares of 1,102 FLEETCOR Technologies, Inc. (NYSE:FLT)

Posted by on Apr 27th, 2023

Raymond James Trust N.A. purchased a new stake in FLEETCOR Technologies, Inc. (NYSE:FLT – Get Rating) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 1,102 shares of the business services provider’s stock, valued at approximately $202,000.

A number of other institutional investors have also recently bought and sold shares of FLT. Sustainable Growth Advisers LP lifted its stake in FLEETCOR Technologies by 9.9% in the fourth quarter. Sustainable Growth Advisers LP now owns 2,517,359 shares of the business services provider’s stock valued at $462,388,000 after buying an additional 226,853 shares in the last quarter. Parsifal Capital Management LP bought a new position in FLEETCOR Technologies in the third quarter valued at approximately $38,105,000. Korea Investment CORP lifted its stake in FLEETCOR Technologies by 101.7% in the third quarter. Korea Investment CORP now owns 370,314 shares of the business services provider’s stock valued at $65,238,000 after buying an additional 186,703 shares in the last quarter. Boston Partners lifted its stake in FLEETCOR Technologies by 6.6% in the third quarter. Boston Partners now owns 2,376,266 shares of the business services provider’s stock valued at $418,767,000 after buying an additional 146,518 shares in the last quarter. Finally, Los Angeles Capital Management LLC raised its holdings in shares of FLEETCOR Technologies by 135.0% in the third quarter. Los Angeles Capital Management LLC now owns 228,706 shares of the business services provider’s stock valued at $40,291,000 after purchasing an additional 131,370 shares during the last quarter. Institutional investors own 90.49% of the company’s stock.

Wall Street Analysts Forecast Growth

FLT has been the topic of a number of recent research reports. Royal Bank of Canada lifted their price objective on shares of FLEETCOR Technologies from $226.00 to $240.00 and gave the company a “sector perform” rating in a report on Thursday, February 9th. Jefferies Financial Group lifted their price objective on shares of FLEETCOR Technologies from $240.00 to $255.00 and gave the company a “buy” rating in a report on Friday, April 14th. Credit Suisse Group lifted their price objective on shares of FLEETCOR Technologies from $220.00 to $230.00 and gave the company a “neutral” rating in a report on Friday, February 10th. Wells Fargo & Company lifted their price objective on shares of FLEETCOR Technologies from $225.00 to $240.00 and gave the company an “overweight” rating in a report on Thursday, February 9th. Finally, Morgan Stanley lifted their price objective on shares of FLEETCOR Technologies from $188.00 to $205.00 and gave the company an “equal weight” rating in a report on Thursday, February 9th. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, FLEETCOR Technologies presently has a consensus rating of “Moderate Buy” and an average target price of $250.21.

FLEETCOR Technologies Price Performance

NYSE:FLT opened at $209.55 on Thursday. FLEETCOR Technologies, Inc. has a one year low of $161.69 and a one year high of $259.48. The company has a market cap of $15.40 billion, a P/E ratio of 16.85, a P/E/G ratio of 1.14 and a beta of 1.20. The firm’s fifty day moving average price is $208.47 and its two-hundred day moving average price is $195.84. The company has a debt-to-equity ratio of 1.86, a current ratio of 1.01 and a quick ratio of 1.01.

FLEETCOR Technologies (NYSE:FLT – Get Rating) last released its quarterly earnings data on Wednesday, February 8th. The business services provider reported $4.04 EPS for the quarter, beating the consensus estimate of $3.93 by $0.11. FLEETCOR Technologies had a net margin of 27.85% and a return on equity of 44.21%. The firm had revenue of $883.60 million for the quarter, compared to the consensus estimate of $874.44 million. During the same period in the previous year, the company earned $3.47 earnings per share. The company’s quarterly revenue was up 10.1% on a year-over-year basis. Equities analysts expect that FLEETCOR Technologies, Inc. will post 15.77 earnings per share for the current year.

FLEETCOR Technologies Company Profile

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FLEETCOR Technologies, Inc engages in the provision of digital payment solutions that enables businesses to control purchases and make payments. It operates through the following geographical segments: North America, International, and Brazil. The company was founded by William Boatner Reily III and Ronald F.

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

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