FleetCor Technologies, Inc. (NYSE:FLT) Holdings Trimmed by Montag & Caldwell LLC

Montag & Caldwell LLC lowered its position in shares of FleetCor Technologies, Inc. (NYSE:FLT) by 3.1% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 217,463 shares of the business services provider’s stock after selling 7,001 shares during the period. FleetCor Technologies accounts for 3.1% of Montag & Caldwell LLC’s investment portfolio, making the stock its 17th largest position. Montag & Caldwell LLC’s holdings in FleetCor Technologies were worth $61,075,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in FLT. NN Investment Partners Holdings N.V. boosted its stake in FleetCor Technologies by 52.2% during the second quarter. NN Investment Partners Holdings N.V. now owns 624,816 shares of the business services provider’s stock valued at $175,479,000 after buying an additional 214,266 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of FleetCor Technologies by 209.7% during the first quarter. JPMorgan Chase & Co. now owns 165,049 shares of the business services provider’s stock valued at $40,700,000 after purchasing an additional 111,759 shares during the last quarter. WINTON GROUP Ltd purchased a new stake in shares of FleetCor Technologies during the second quarter valued at $27,835,000. State Treasurer State of Michigan lifted its holdings in shares of FleetCor Technologies by 221.2% during the first quarter. State Treasurer State of Michigan now owns 110,800 shares of the business services provider’s stock valued at $27,322,000 after purchasing an additional 76,300 shares during the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. lifted its holdings in shares of FleetCor Technologies by 622.3% during the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 87,423 shares of the business services provider’s stock valued at $24,553,000 after purchasing an additional 75,320 shares during the last quarter. 94.71% of the stock is owned by institutional investors and hedge funds.

Several equities research analysts have recently commented on FLT shares. Deutsche Bank upped their target price on FleetCor Technologies from $265.00 to $305.00 and gave the company a “buy” rating in a report on Friday, June 21st. Oppenheimer upped their target price on FleetCor Technologies from $265.00 to $270.00 and gave the company an “outperform” rating in a report on Wednesday, May 8th. SunTrust Banks upped their target price on FleetCor Technologies to $320.00 and gave the company a “buy” rating in a report on Thursday, June 13th. Goldman Sachs Group raised FleetCor Technologies from a “neutral” rating to a “buy” rating and upped their target price for the company from $243.00 to $305.00 in a report on Wednesday, June 5th. Finally, Morgan Stanley downgraded FleetCor Technologies from an “overweight” rating to an “equal weight” rating and upped their target price for the company from $240.00 to $284.00 in a report on Thursday, July 11th. Eight analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $269.27.

FleetCor Technologies stock traded up $1.18 during mid-day trading on Thursday, hitting $286.95. The company’s stock had a trading volume of 18,380 shares, compared to its average volume of 540,024. The stock’s 50 day moving average is $287.51. The firm has a market cap of $25.01 billion, a P/E ratio of 28.97, a PEG ratio of 1.66 and a beta of 1.16. The company has a current ratio of 0.92, a quick ratio of 0.91 and a debt-to-equity ratio of 0.70. FleetCor Technologies, Inc. has a 52-week low of $172.18 and a 52-week high of $297.13.

FleetCor Technologies (NYSE:FLT) last announced its quarterly earnings data on Tuesday, August 6th. The business services provider reported $2.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.64 by $0.05. The firm had revenue of $647.09 million during the quarter, compared to the consensus estimate of $633.95 million. FleetCor Technologies had a return on equity of 26.37% and a net margin of 35.29%. The business’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same period in the prior year, the business earned $2.57 EPS. As a group, equities analysts forecast that FleetCor Technologies, Inc. will post 11.15 earnings per share for the current fiscal year.

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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