Exchange Traded Concepts LLC lessened its position in FLEETCOR Technologies, Inc. (NYSE:FLT – Free Report) by 17.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,910 shares of the business services provider’s stock after selling 392 shares during the quarter. Exchange Traded Concepts LLC’s holdings in FLEETCOR Technologies were worth $480,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also recently modified their holdings of the company. Nelson Van Denburg & Campbell Wealth Management Group LLC boosted its holdings in FLEETCOR Technologies by 1,925.3% in the second quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 1,519 shares of the business services provider’s stock valued at $381,000 after acquiring an additional 1,444 shares in the last quarter. New Mexico Educational Retirement Board grew its stake in shares of FLEETCOR Technologies by 5.9% in the 2nd quarter. New Mexico Educational Retirement Board now owns 3,600 shares of the business services provider’s stock worth $904,000 after buying an additional 200 shares during the last quarter. Xponance Inc. increased its position in FLEETCOR Technologies by 20.0% during the 2nd quarter. Xponance Inc. now owns 20,193 shares of the business services provider’s stock valued at $5,070,000 after buying an additional 3,367 shares in the last quarter. Birch Capital Management LLC raised its stake in FLEETCOR Technologies by 60.2% during the second quarter. Birch Capital Management LLC now owns 5,340 shares of the business services provider’s stock valued at $1,341,000 after buying an additional 2,006 shares during the last quarter. Finally, Contravisory Investment Management Inc. bought a new stake in FLEETCOR Technologies in the second quarter worth $529,000. 94.93% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
Several brokerages have recently weighed in on FLT. Robert W. Baird raised their price target on FLEETCOR Technologies from $256.00 to $275.00 in a report on Wednesday, July 19th. Royal Bank of Canada lifted their target price on shares of FLEETCOR Technologies from $240.00 to $277.00 and gave the stock a “sector perform” rating in a 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 note on Wednesday, August 9th. Jefferies Financial Group raised their price target on shares of FLEETCOR Technologies from $255.00 to $300.00 in a research report on Tuesday, July 18th. Finally, Morgan Stanley upped their price objective on FLEETCOR Technologies from $243.00 to $244.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 9th. Five research 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 stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $278.67.
FLEETCOR Technologies Stock Up 1.0 %
FLEETCOR Technologies stock opened at $254.54 on Friday. The stock has a market cap of $18.84 billion, a PE ratio of 20.53, a price-to-earnings-growth ratio of 1.27 and a beta of 1.20. 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 has a fifty day moving average of $263.55 and a 200 day moving average of $242.53. FLEETCOR Technologies, Inc. has a one year low of $161.69 and a one year high of $278.35.
FLEETCOR Technologies (NYSE:FLT – Get Free Report) last released its quarterly earnings results on Tuesday, August 8th. The business services provider reported $3.85 EPS for the quarter, missing the consensus estimate of $3.87 by ($0.02). The business had revenue of $948.17 million for the quarter, compared to analysts’ expectations of $945.21 million. FLEETCOR Technologies had a net margin of 25.61% and a return on equity of 41.53%. As a group, sell-side analysts predict that FLEETCOR Technologies, Inc. will post 15.87 EPS for the current year.
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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