Allspring Global Investments Holdings LLC cut its stake in shares of FLEETCOR Technologies, Inc. (NYSE:FLT – Free Report) by 12.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 105,020 shares of the business services provider’s stock after selling 14,518 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.14% of FLEETCOR Technologies worth $26,368,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Covestor Ltd boosted its position in FLEETCOR Technologies by 253.1% during the 1st quarter. Covestor Ltd now owns 113 shares of the business services provider’s stock worth $28,000 after buying an additional 81 shares during the period. BOKF NA acquired a new position in shares of FLEETCOR Technologies in the 1st quarter worth approximately $29,000. Sunbelt Securities Inc. acquired a new position in shares of FLEETCOR Technologies in the 1st quarter worth approximately $28,000. Lazard Asset Management LLC acquired a new position in shares of FLEETCOR Technologies in the 1st quarter worth approximately $35,000. Finally, Massmutual Trust Co. FSB ADV lifted its position in shares of FLEETCOR Technologies by 88.3% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 145 shares of the business services provider’s stock worth $31,000 after purchasing an additional 68 shares during the period. 94.93% of the stock is owned by institutional investors.
Analysts Set New Price Targets
A number of research analysts have recently issued reports on the stock. Raymond James boosted their price target on shares of FLEETCOR Technologies from $246.00 to $283.00 and gave the stock an “outperform” rating in a research report on Thursday, August 10th. Barclays boosted their target price on shares of FLEETCOR Technologies from $270.00 to $322.00 and gave the company an “overweight” rating in a research report on Monday, August 14th. Morgan Stanley boosted their target price on shares of FLEETCOR Technologies from $243.00 to $244.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 9th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of FLEETCOR Technologies from $310.00 to $300.00 and set a “buy” rating on the stock in a research report on Wednesday, August 9th. Finally, Jefferies Financial Group boosted their target price on shares of FLEETCOR Technologies from $255.00 to $300.00 in a research report on Tuesday, July 18th. Five equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $277.67.
FLEETCOR Technologies Stock Performance
NYSE FLT opened at $255.34 on Monday. The company has a fifty day moving average price of $263.23 and a 200-day moving average price of $241.12. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.08 and a quick ratio of 1.08. The firm has a market cap of $18.90 billion, a price-to-earnings ratio of 20.59, a PEG ratio of 1.29 and a beta of 1.20. FLEETCOR Technologies, Inc. has a 1 year low of $161.69 and a 1 year high of $278.35.
FLEETCOR Technologies (NYSE:FLT – Get Free Report) last issued its quarterly earnings results on Tuesday, August 8th. The business services provider reported $3.85 earnings per share for the quarter, missing analysts’ consensus estimates of $3.87 by ($0.02). The company had revenue of $948.17 million during the quarter, compared to analysts’ expectations of $945.21 million. FLEETCOR Technologies had a return on equity of 41.53% and a net margin of 25.61%. As a group, equities research analysts predict that FLEETCOR Technologies, Inc. will post 15.87 EPS for the current fiscal year.
FLEETCOR Technologies Company 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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