FLEETCOR Technologies, Inc. (NYSE:FLT) Shares Purchased by Baird Financial Group Inc.

Posted by on Jun 11th, 2023

Baird Financial Group Inc. raised its holdings in shares of FLEETCOR Technologies, Inc. (NYSE:FLT – Get Rating) by 22.6% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 48,030 shares of the business services provider’s stock after purchasing an additional 8,847 shares during the quarter. Baird Financial Group Inc. owned 0.07% of FLEETCOR Technologies worth $8,822,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of FLT. Sustainable Growth Advisers LP grew its stake in FLEETCOR Technologies by 9.9% during the 4th quarter. Sustainable Growth Advisers LP now owns 2,517,359 shares of the business services provider’s stock valued at $462,388,000 after purchasing an additional 226,853 shares in the last quarter. Parsifal Capital Management LP acquired a new stake in FLEETCOR Technologies during the 3rd quarter valued at approximately $38,105,000. Korea Investment CORP grew its stake in FLEETCOR Technologies by 101.7% during the 3rd quarter. Korea Investment CORP now owns 370,314 shares of the business services provider’s stock valued at $65,238,000 after purchasing an additional 186,703 shares in the last quarter. Thompson Siegel & Walmsley LLC grew its stake in FLEETCOR Technologies by 36.9% during the 4th quarter. Thompson Siegel & Walmsley LLC now owns 489,101 shares of the business services provider’s stock valued at $89,839,000 after purchasing an additional 131,868 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its stake in FLEETCOR Technologies by 1,077.6% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 130,125 shares of the business services provider’s stock valued at $23,901,000 after purchasing an additional 119,075 shares in the last quarter. Institutional investors and hedge funds own 90.49% of the company’s stock.

FLEETCOR Technologies Trading Up 0.4 %

Shares of NYSE FLT opened at $239.37 on Friday. The stock’s 50 day simple moving average is $223.55 and its 200 day simple moving average is $206.72. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.63. The company has a market cap of $17.67 billion, a price-to-earnings ratio of 19.07, a price-to-earnings-growth ratio of 1.24 and a beta of 1.20. FLEETCOR Technologies, Inc. has a 12-month low of $161.69 and a 12-month high of $240.66.

FLEETCOR Technologies (NYSE:FLT – Get Rating) last announced its earnings results on Wednesday, May 3rd. The business services provider reported $3.80 earnings per share for the quarter, beating the consensus estimate of $3.69 by $0.11. The firm had revenue of $901.30 million for the quarter, compared to the consensus estimate of $881.03 million. FLEETCOR Technologies had a return on equity of 44.25% and a net margin of 26.88%. The firm’s revenue for the quarter was up 14.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.35 EPS. Equities research analysts expect that FLEETCOR Technologies, Inc. will post 15.89 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on FLT shares. Jefferies Financial Group lifted their target price on FLEETCOR Technologies from $240.00 to $255.00 and gave the stock a “buy” rating in a research report on Friday, April 14th. StockNews.com started coverage on FLEETCOR Technologies in a research report on Thursday, May 18th. They issued a “hold” rating for the company. Barclays lifted their target price on FLEETCOR Technologies from $245.00 to $270.00 in a research report on Sunday, May 7th. Raymond James upgraded FLEETCOR Technologies from a “market perform” rating to an “outperform” rating and set a $254.00 target price for the company in a research report on Tuesday, March 21st. Finally, Mizuho lifted their target price on FLEETCOR Technologies from $220.00 to $230.00 in a research report on Monday, May 8th. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $241.50.

FLEETCOR Technologies Profile

(Get Rating)

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.

Featured Articles

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 MarketBeat.com's FREE daily email newsletter.