FleetCor Technologies, Inc. (NYSE:FLT) Shares Sold by Contravisory Investment Management Inc.

Contravisory Investment Management Inc. trimmed its stake in shares of FleetCor Technologies, Inc. (NYSE:FLT) by 0.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 17,472 shares of the business services provider’s stock after selling 163 shares during the quarter. FleetCor Technologies comprises 1.9% of Contravisory Investment Management Inc.’s investment portfolio, making the stock its 19th biggest holding. Contravisory Investment Management Inc.’s holdings in FleetCor Technologies were worth $5,011,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently bought and sold shares of FLT. Nuveen Asset Management LLC grew its holdings in shares of FleetCor Technologies by 1,371.2% during the 2nd quarter. Nuveen Asset Management LLC now owns 679,917 shares of the business services provider’s stock valued at $190,955,000 after acquiring an additional 633,703 shares in the last quarter. Jennison Associates LLC boosted its stake in FleetCor Technologies by 12.5% in the second quarter. Jennison Associates LLC now owns 3,847,154 shares of the business services provider’s stock valued at $1,080,473,000 after acquiring an additional 428,695 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in FleetCor Technologies by 7.9% in the second quarter. Price T Rowe Associates Inc. MD now owns 5,495,251 shares of the business services provider’s stock valued at $1,543,341,000 after acquiring an additional 402,662 shares during the last quarter. BlackRock Inc. boosted its stake in FleetCor Technologies by 4.6% in the second quarter. BlackRock Inc. now owns 7,346,739 shares of the business services provider’s stock valued at $2,063,332,000 after acquiring an additional 321,775 shares during the last quarter. Finally, NN Investment Partners Holdings N.V. raised its holdings in FleetCor Technologies by 52.2% in the second quarter. NN Investment Partners Holdings N.V. now owns 624,816 shares of the business services provider’s stock worth $175,479,000 after purchasing an additional 214,266 shares during the period. 93.54% of the stock is owned by institutional investors.

Several equities research analysts have weighed in on FLT shares. Zacks Investment Research lowered shares of FleetCor Technologies from a “buy” rating to a “hold” rating and set a $304.00 target price on the stock. in a report on Wednesday, September 11th. SunTrust Banks increased their target price on shares of FleetCor Technologies to $320.00 and gave the stock a “buy” rating in a report on Thursday, June 13th. BTIG Research reiterated a “buy” rating and issued a $340.00 target price on shares of FleetCor Technologies in a report on Monday, July 8th. Royal Bank of Canada started coverage on shares of FleetCor Technologies in a report on Monday. They issued a “sector perform” rating and a $324.00 target price on the stock. Finally, ValuEngine lowered shares of FleetCor Technologies from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Eleven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. FleetCor Technologies presently has a consensus rating of “Hold” and an average price target of $280.94.

Shares of NYSE:FLT traded down $4.48 during midday trading on Monday, reaching $285.24. 142,257 shares of the company were exchanged, compared to its average volume of 626,621. FleetCor Technologies, Inc. has a fifty-two week low of $172.18 and a fifty-two week high of $304.65. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.70. The stock has a fifty day simple moving average of $292.66 and a two-hundred day simple moving average of $274.06. The firm has a market cap of $24.35 billion, a PE ratio of 28.73, a P/E/G ratio of 1.62 and a beta of 1.12.

FleetCor Technologies (NYSE:FLT) last issued its quarterly earnings data on Tuesday, August 6th. The business services provider reported $2.69 EPS for the quarter, topping analysts’ consensus estimates 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 last year, the business posted $2.57 earnings per share. The firm’s quarterly revenue was up 10.6% on a year-over-year basis. As a group, analysts forecast that FleetCor Technologies, Inc. will post 11.16 earnings per share for the current year.

FleetCor Technologies Company 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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