DnB Asset Management AS lowered its position in FLEETCOR Technologies, Inc. (NYSE:FLT – Free Report) by 1.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 18,330 shares of the business services provider’s stock after selling 200 shares during the period. DnB Asset Management AS’s holdings in FLEETCOR Technologies were worth $4,602,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also recently bought and sold shares of FLT. Price T Rowe Associates Inc. MD boosted its position in FLEETCOR Technologies by 89.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,290,599 shares of the business services provider’s stock worth $693,824,000 after purchasing an additional 1,551,830 shares in the last quarter. Boston Partners boosted its position in FLEETCOR Technologies by 33.7% in the 1st quarter. Boston Partners now owns 3,071,810 shares of the business services provider’s stock worth $647,947,000 after purchasing an additional 774,730 shares in the last quarter. Norges Bank purchased a new stake in FLEETCOR Technologies in the 4th quarter worth approximately $135,367,000. FMR LLC raised its stake in shares of FLEETCOR Technologies by 110.5% during the 1st quarter. FMR LLC now owns 1,253,697 shares of the business services provider’s stock worth $264,342,000 after buying an additional 658,130 shares during the period. Finally, Mizuho Markets Cayman LP acquired a new position in shares of FLEETCOR Technologies during the 1st quarter worth approximately $118,537,000. Hedge funds and other institutional investors own 94.93% of the company’s stock.
Wall Street Analysts Forecast Growth
Several brokerages have recently weighed in on FLT. Truist Financial upped their target price on FLEETCOR Technologies from $305.00 to $315.00 and gave the stock a “buy” rating in a research note on Wednesday, September 13th. Robert W. Baird upped their target price on FLEETCOR Technologies from $256.00 to $275.00 in a research note on Wednesday, July 19th. Morgan Stanley upped their target price 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. Bank of America raised their target price on FLEETCOR Technologies from $240.00 to $288.00 in a research note on Friday, July 14th. Finally, Royal Bank of Canada raised their target price on FLEETCOR Technologies from $240.00 to $277.00 and gave the stock a “sector perform” rating in a research note on Wednesday, August 9th. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $277.67.
FLEETCOR Technologies Stock Performance
NYSE FLT opened at $272.86 on Monday. The stock has a market cap of $20.19 billion, a PE ratio of 22.00, a P/E/G ratio of 1.38 and a beta of 1.20. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 1.43. FLEETCOR Technologies, Inc. has a twelve month low of $161.69 and a twelve month high of $275.82. The stock has a fifty day simple moving average of $261.26 and a 200-day simple moving average of $236.62.
FLEETCOR Technologies (NYSE:FLT – Get Free Report) last announced its earnings results on Tuesday, August 8th. The business services provider reported $3.85 EPS for the quarter, missing analysts’ consensus estimates of $3.87 by ($0.02). FLEETCOR Technologies had a net margin of 25.61% and a return on equity of 41.53%. The firm had revenue of $948.17 million for the quarter, compared to analysts’ expectations of $945.21 million. Equities analysts anticipate that FLEETCOR Technologies, Inc. will post 15.83 earnings per share for the current year.
FLEETCOR Technologies Profile
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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