Swiss National Bank lowered its stake in FLEETCOR Technologies, Inc. (NYSE:FLT – Free Report) by 4.0% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 278,100 shares of the business services provider’s stock after selling 11,600 shares during the quarter. Swiss National Bank owned about 0.38% of FLEETCOR Technologies worth $58,637,000 as of its most recent filing with the SEC.
Other hedge funds have also modified their holdings of the company. Boston Partners grew its position in FLEETCOR Technologies by 33.7% in the first quarter. Boston Partners now owns 3,071,810 shares of the business services provider’s stock valued at $647,947,000 after acquiring an additional 774,730 shares in the last quarter. Norges Bank acquired a new stake in FLEETCOR Technologies during the 4th quarter valued at $135,367,000. Mizuho Markets Cayman LP purchased a new stake in FLEETCOR Technologies during the 1st quarter worth $118,537,000. BloombergSen Inc. acquired a new position in FLEETCOR Technologies in the 4th quarter worth $80,825,000. Finally, Junto Capital Management LP purchased a new position in FLEETCOR Technologies in the 4th quarter valued at about $44,825,000. 93.87% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several research analysts recently commented on FLT shares. Morgan Stanley boosted their price target on FLEETCOR Technologies from $243.00 to $244.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 9th. Barclays raised their price target on shares of FLEETCOR Technologies from $270.00 to $322.00 and gave the stock an “overweight” rating in a research report on Monday, August 14th. StockNews.com started coverage on shares of FLEETCOR Technologies in a report on Thursday. They issued a “buy” rating on the stock. Raymond James raised their price objective on shares of FLEETCOR Technologies from $246.00 to $283.00 and gave the stock an “outperform” rating in a report on Thursday, August 10th. Finally, Robert W. Baird upped their target price on shares of FLEETCOR Technologies from $256.00 to $275.00 in a research note on Wednesday, July 19th. Four investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $272.79.
FLEETCOR Technologies Stock Performance
FLT stock opened at $262.23 on Friday. FLEETCOR Technologies, Inc. has a 1 year low of $161.69 and a 1 year high of $272.37. The stock has a market capitalization of $19.39 billion, a price-to-earnings ratio of 21.15, a PEG ratio of 1.33 and a beta of 1.21. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.08 and a current ratio of 1.08. The stock’s fifty day moving average is $251.39 and its two-hundred day moving average is $228.28.
About FLEETCOR Technologies
FLEETCOR Technologies, Inc, a business payments company that helps businesses spend less by enabling them to manage their expense-related purchasing and vendor payments processes. 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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