Seeyond increased its stake in shares of FleetCor Technologies, Inc. (NYSE:FLT) by 35.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,782 shares of the business services provider’s stock after buying an additional 1,778 shares during the quarter. Seeyond’s holdings in FleetCor Technologies were worth $1,905,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in FLT. Advisor Group Inc. boosted its position in FleetCor Technologies by 0.7% in the first quarter. Advisor Group Inc. now owns 5,714 shares of the business services provider’s stock valued at $1,409,000 after buying an additional 38 shares during the last quarter. Securian Asset Management Inc lifted its stake in FleetCor Technologies by 0.5% during the 2nd quarter. Securian Asset Management Inc now owns 9,084 shares of the business services provider’s stock valued at $2,551,000 after acquiring an additional 42 shares during the period. Meridian Management Co. boosted its holdings in shares of FleetCor Technologies by 0.5% in the 1st quarter. Meridian Management Co. now owns 8,050 shares of the business services provider’s stock valued at $1,985,000 after acquiring an additional 44 shares during the last quarter. CIBC Asset Management Inc boosted its holdings in shares of FleetCor Technologies by 0.6% in the 1st quarter. CIBC Asset Management Inc now owns 7,957 shares of the business services provider’s stock valued at $1,962,000 after acquiring an additional 46 shares during the last quarter. Finally, Advisor Partners LLC increased its stake in shares of FleetCor Technologies by 5.8% in the second quarter. Advisor Partners LLC now owns 878 shares of the business services provider’s stock worth $247,000 after acquiring an additional 48 shares during the period. 93.78% of the stock is currently owned by hedge funds and other institutional investors.
Several research analysts recently issued reports on FLT shares. Bank of America initiated coverage on shares of FleetCor Technologies in a report on Monday, June 3rd. They set a “neutral” rating and a $275.00 target price for the company. Morgan Stanley lowered shares of FleetCor Technologies from an “overweight” rating to an “equal weight” rating and upped their price target for the company from $240.00 to $284.00 in a report on Thursday, July 11th. BTIG Research reaffirmed a “buy” rating and set a $340.00 price target on shares of FleetCor Technologies in a research report on Monday, July 8th. GMP Securities reiterated an “average” rating and set a $4.00 price objective on shares of FleetCor Technologies in a research note on Wednesday, June 5th. Finally, SunTrust Banks boosted their price objective on FleetCor Technologies to $320.00 and gave the company a “buy” rating in a report on Thursday, June 13th. Eight research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. FleetCor Technologies currently has a consensus rating of “Buy” and a consensus price target of $275.87.
FleetCor Technologies (NYSE:FLT) last posted its earnings results 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. FleetCor Technologies had a net margin of 35.29% and a return on equity of 26.37%. The business had revenue of $647.09 million for the quarter, compared to analyst estimates of $633.95 million. During the same period in the prior year, the company posted $2.57 EPS. The company’s revenue for the quarter was up 10.6% on a year-over-year basis. As a group, analysts predict that FleetCor Technologies, Inc. will post 11.15 earnings per share for the current 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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