FLEETCOR Technologies, Inc. (NYSE:FLT) Shares Sold by Bessemer Group Inc.

Posted by on Jun 12th, 2023

Bessemer Group Inc. lowered its position in shares of FLEETCOR Technologies, Inc. (NYSE:FLT – Get Rating) by 3.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,809 shares of the business services provider’s stock after selling 117 shares during the period. Bessemer Group Inc.’s holdings in FLEETCOR Technologies were worth $700,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Asset Management One Co. Ltd. increased its position in shares of FLEETCOR Technologies by 4.3% during the fourth quarter. Asset Management One Co. Ltd. now owns 39,085 shares of the business services provider’s stock worth $7,258,000 after purchasing an additional 1,611 shares in the last quarter. Heron Bay Capital Management increased its position in shares of FLEETCOR Technologies by 8.7% during the fourth quarter. Heron Bay Capital Management now owns 7,147 shares of the business services provider’s stock worth $1,313,000 after purchasing an additional 573 shares in the last quarter. Jennison Associates LLC increased its position in shares of FLEETCOR Technologies by 57.3% during the fourth quarter. Jennison Associates LLC now owns 32,086 shares of the business services provider’s stock worth $5,894,000 after purchasing an additional 11,682 shares in the last quarter. Goodman Financial Corp increased its position in shares of FLEETCOR Technologies by 2.8% during the fourth quarter. Goodman Financial Corp now owns 47,071 shares of the business services provider’s stock worth $8,646,000 after purchasing an additional 1,265 shares in the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. increased its position in FLEETCOR Technologies by 42.0% in the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 1,889 shares of the business services provider’s stock valued at $347,000 after acquiring an additional 559 shares during the period. Institutional investors and hedge funds own 90.49% of the company’s stock.

FLEETCOR Technologies Stock Performance

NYSE FLT traded down $0.49 on Monday, hitting $238.88. 73,017 shares of the company’s stock were exchanged, compared to its average volume of 579,158. The firm’s 50-day moving average price is $223.55 and its two-hundred day moving average price is $206.84. The firm has a market cap of $17.64 billion, a price-to-earnings ratio of 19.00, a P/E/G ratio of 1.24 and a beta of 1.20. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.03 and a quick ratio of 1.03. FLEETCOR Technologies, Inc. has a fifty-two week low of $161.69 and a fifty-two week high of $240.72.

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

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Jefferies Financial Group boosted their price target on FLEETCOR Technologies from $240.00 to $255.00 and gave the company a “buy” rating in a research report on Friday, April 14th. TheStreet upgraded FLEETCOR Technologies from a “c+” rating to a “b-” rating in a research report on Friday, April 14th. Barclays boosted their price target 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 price target on the stock in a research report on Tuesday, March 21st. Finally, StockNews.com assumed coverage on FLEETCOR Technologies in a research report on Thursday, May 18th. They issued a “hold” rating on the stock. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, FLEETCOR Technologies has an average rating of “Moderate Buy” and an average price target of $241.50.

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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