FleetCor Technologies, Inc. (FLT) Position Lessened by Boston Partners

Boston Partners reduced its position in shares of FleetCor Technologies, Inc. (NYSE:FLT) by 21.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 10,014 shares of the business services provider’s stock after selling 2,683 shares during the period. Boston Partners’ holdings in FleetCor Technologies were worth $2,469,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of FLT. JPMorgan Chase & Co. boosted its position in FleetCor Technologies by 213.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 308,196 shares of the business services provider’s stock valued at $70,220,000 after acquiring an additional 209,806 shares in the last quarter. Legal & General Group Plc boosted its position in FleetCor Technologies by 1.7% during the 3rd quarter. Legal & General Group Plc now owns 383,688 shares of the business services provider’s stock valued at $87,420,000 after acquiring an additional 6,259 shares in the last quarter. Morgan Stanley boosted its position in FleetCor Technologies by 1.1% during the 3rd quarter. Morgan Stanley now owns 551,079 shares of the business services provider’s stock valued at $125,558,000 after acquiring an additional 5,981 shares in the last quarter. Gateway Investment Advisers LLC boosted its position in FleetCor Technologies by 1.0% during the 4th quarter. Gateway Investment Advisers LLC now owns 51,469 shares of the business services provider’s stock valued at $9,559,000 after acquiring an additional 509 shares in the last quarter. Finally, Boston Advisors LLC boosted its position in FleetCor Technologies by 11.6% during the 4th quarter. Boston Advisors LLC now owns 6,845 shares of the business services provider’s stock valued at $1,271,000 after acquiring an additional 713 shares in the last quarter. 94.65% of the stock is owned by institutional investors and hedge funds.

FleetCor Technologies stock opened at $271.13 on Friday. The company has a quick ratio of 0.86, a current ratio of 0.91 and a debt-to-equity ratio of 0.77. The firm has a market capitalization of $22.77 billion, a PE ratio of 26.13, a price-to-earnings-growth ratio of 1.49 and a beta of 1.24. FleetCor Technologies, Inc. has a 1-year low of $172.18 and a 1-year high of $271.70.

FleetCor Technologies (NYSE:FLT) last posted its quarterly earnings data on Tuesday, May 7th. The business services provider reported $2.56 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.46 by $0.10. The firm had revenue of $621.80 million during the quarter, compared to analysts’ expectations of $608.40 million. FleetCor Technologies had a return on equity of 26.56% and a net margin of 32.74%. The business’s quarterly revenue was up 6.2% on a year-over-year basis. During the same quarter last year, the firm earned $2.50 EPS. As a group, equities research analysts expect that FleetCor Technologies, Inc. will post 11.11 EPS for the current fiscal year.

Several brokerages have issued reports on FLT. BTIG Research increased their target price on FleetCor Technologies from $253.00 to $288.00 and gave the company a “buy” rating in a research report on Tuesday, April 2nd. Zacks Investment Research raised FleetCor Technologies from a “hold” rating to a “buy” rating and set a $279.00 target price on the stock in a research report on Tuesday, April 2nd. Mizuho increased their target price on FleetCor Technologies from $245.00 to $247.00 and gave the company a “neutral” rating in a research report on Wednesday, May 8th. Oppenheimer increased their target price on FleetCor Technologies from $265.00 to $270.00 and gave the company an “outperform” rating in a research report on Wednesday, May 8th. Finally, Jefferies Financial Group set a $250.00 target price on FleetCor Technologies and gave the company a “hold” rating in a research report on Tuesday, April 23rd. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $255.33.

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FleetCor Technologies Profile

FleetCor Technologies, Inc provides commercial payment solutions in North America, Latin America, Europe, and Australasia. The company offers fuel payment solutions to businesses and government entities that operate vehicle fleets, as well as to oil and leasing companies, and fuel marketers. Its fuel payment products are in the form of plastic cards, electronic RFID tags, and paper vouchers to purchase fuel, oil, vehicle maintenance supplies and services, and building supplies.

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Institutional Ownership by Quarter for FleetCor Technologies (NYSE:FLT)

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