Eric Dey Sells 1,269 Shares of FLEETCOR Technologies, Inc. (NYSE:FLT) Stock

FLEETCOR Technologies, Inc. (NYSE:FLT) CFO Eric Dey sold 1,269 shares of the company’s stock in a transaction dated Wednesday, November 18th. The shares were sold at an average price of $268.13, for a total transaction of $340,256.97. Following the completion of the transaction, the chief financial officer now owns 15,303 shares in the company, valued at $4,103,193.39. The transaction was disclosed in a filing with the SEC, which is available at this link.

Eric Dey also recently made the following trade(s):

  • On Tuesday, November 10th, Eric Dey sold 47,941 shares of FLEETCOR Technologies stock. The shares were sold at an average price of $276.26, for a total transaction of $13,244,180.66.

Shares of NYSE:FLT opened at $253.93 on Friday. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.08. FLEETCOR Technologies, Inc. has a 52-week low of $168.51 and a 52-week high of $329.85. The company has a 50 day moving average of $245.72 and a two-hundred day moving average of $246.83. The company has a market capitalization of $21.18 billion, a price-to-earnings ratio of 30.63, a price-to-earnings-growth ratio of 2.06 and a beta of 1.47.

FLEETCOR Technologies (NYSE:FLT) last released its quarterly earnings results on Thursday, November 5th. The business services provider reported $2.80 earnings per share for the quarter, topping analysts’ consensus estimates of $2.65 by $0.15. FLEETCOR Technologies had a net margin of 29.88% and a return on equity of 29.52%. The business had revenue of $585.28 million during the quarter, compared to the consensus estimate of $580.76 million. During the same quarter last year, the company earned $3.10 earnings per share. The business’s quarterly revenue was down 14.1% compared to the same quarter last year. On average, equities analysts anticipate that FLEETCOR Technologies, Inc. will post 10.36 earnings per share for the current year.

FLEETCOR Technologies announced that its board has authorized a share repurchase program on Thursday, November 5th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the business services provider to buy up to 4.6% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its shares are undervalued.

Hedge funds have recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC grew its position in shares of FLEETCOR Technologies by 57.2% during the second quarter. Nisa Investment Advisors LLC now owns 10,905 shares of the business services provider’s stock worth $2,743,000 after buying an additional 3,970 shares in the last quarter. ProShare Advisors LLC lifted its stake in FLEETCOR Technologies by 16.5% during the second quarter. ProShare Advisors LLC now owns 8,989 shares of the business services provider’s stock worth $2,261,000 after purchasing an additional 1,276 shares during the last quarter. Pacer Advisors Inc. lifted its stake in FLEETCOR Technologies by 735.9% during the second quarter. Pacer Advisors Inc. now owns 7,481 shares of the business services provider’s stock worth $1,882,000 after purchasing an additional 6,586 shares during the last quarter. Balyasny Asset Management LLC lifted its stake in FLEETCOR Technologies by 995.5% during the second quarter. Balyasny Asset Management LLC now owns 279,256 shares of the business services provider’s stock worth $70,241,000 after purchasing an additional 253,765 shares during the last quarter. Finally, M&T Bank Corp lifted its stake in FLEETCOR Technologies by 4.8% during the second quarter. M&T Bank Corp now owns 34,357 shares of the business services provider’s stock worth $8,642,000 after purchasing an additional 1,574 shares during the last quarter. 95.51% of the stock is owned by institutional investors and hedge funds.

A number of research analysts have issued reports on FLT shares. 140166 reduced their target price on shares of FLEETCOR Technologies from $300.00 to $285.00 in a report on Monday, September 21st. Citigroup cut their price objective on shares of FLEETCOR Technologies from $275.00 to $255.00 and set a “neutral” rating on the stock in a report on Tuesday, August 11th. Morgan Stanley cut their price objective on shares of FLEETCOR Technologies from $275.00 to $267.00 and set an “equal weight” rating on the stock in a report on Friday, November 6th. Zacks Investment Research lowered shares of FLEETCOR Technologies from a “buy” rating to a “hold” rating and set a $274.00 price objective on the stock. in a report on Wednesday, August 5th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of FLEETCOR Technologies from $273.00 to $305.00 and gave the stock a “buy” rating in a report on Monday, August 31st. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and fourteen have given a buy rating to the stock. FLEETCOR Technologies presently has an average rating of “Buy” and a consensus target price of $281.89.

FLEETCOR Technologies Company Profile

FLEETCOR Technologies, Inc operates as a business payments company that simplifies the way businesses manage and pay expenses. The company's portfolio of brands help companies automate, secure, digitize, and control payments on behalf of employees and suppliers. It offers payment solutions in five primary categories, including fuel, lodging, tolls, corporate payments, and gift.

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