FLEETCOR Technologies, Inc. (NYSE:FLT) Stock Position Raised by Russell Investments Group Ltd.

Russell Investments Group Ltd. lifted its stake in shares of FLEETCOR Technologies, Inc. (NYSE:FLT) by 3.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 81,635 shares of the business services provider’s stock after acquiring an additional 2,484 shares during the quarter. Russell Investments Group Ltd. owned 0.11% of FLEETCOR Technologies worth $20,489,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Charles Schwab Investment Management Inc. boosted its stake in shares of FLEETCOR Technologies by 0.7% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 431,482 shares of the business services provider’s stock worth $108,337,000 after acquiring an additional 2,957 shares in the last quarter. Citigroup Inc. boosted its stake in shares of FLEETCOR Technologies by 36.8% during the 2nd quarter. Citigroup Inc. now owns 92,265 shares of the business services provider’s stock worth $23,166,000 after acquiring an additional 24,828 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of FLEETCOR Technologies by 1.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 556,888 shares of the business services provider’s stock worth $139,819,000 after acquiring an additional 6,573 shares in the last quarter. BNP Paribas Arbitrage SNC lifted its holdings in shares of FLEETCOR Technologies by 44.7% in the second quarter. BNP Paribas Arbitrage SNC now owns 66,368 shares of the business services provider’s stock valued at $16,664,000 after purchasing an additional 20,511 shares in the last quarter. Finally, TD Asset Management Inc lifted its holdings in shares of FLEETCOR Technologies by 2.1% in the second quarter. TD Asset Management Inc now owns 281,391 shares of the business services provider’s stock valued at $70,652,000 after purchasing an additional 5,730 shares in the last quarter. 94.93% of the stock is owned by institutional investors.

FLEETCOR Technologies Stock Up 1.1 %

Shares of FLT opened at $235.30 on Tuesday. The stock has a market cap of $16.99 billion, a price-to-earnings ratio of 18.45, a P/E/G ratio of 1.21 and a beta of 1.20. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 1.52. FLEETCOR Technologies, Inc. has a 12 month low of $175.08 and a 12 month high of $278.35. The company has a 50-day moving average price of $248.04 and a two-hundred day moving average price of $248.78.

FLEETCOR Technologies (NYSE:FLT) last announced its quarterly earnings results on Wednesday, November 8th. The business services provider reported $4.49 EPS for the quarter, topping analysts’ consensus estimates of $4.19 by $0.30. The firm had revenue of $970.89 million during the quarter, compared to analysts’ expectations of $973.87 million. FLEETCOR Technologies had a net margin of 25.68% and a return on equity of 39.20%. The company’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same quarter last year, the company earned $3.91 earnings per share. Equities analysts predict that FLEETCOR Technologies, Inc. will post 15.75 EPS for the current fiscal year.

Analysts Set New Price Targets

FLT has been the subject of several recent research reports. Mizuho cut their price objective on FLEETCOR Technologies from $245.00 to $235.00 and set a “neutral” rating for the company in a report on Tuesday, November 14th. Morgan Stanley lowered their target price on shares of FLEETCOR Technologies from $244.00 to $240.00 and set an “equal weight” rating on the stock in a research report on Thursday, November 9th. Robert W. Baird downgraded FLEETCOR Technologies from an “outperform” rating to a “neutral” rating and raised their price target for the company from $275.00 to $302.00 in a research report on Wednesday, October 11th. Royal Bank of Canada lowered their price target on FLEETCOR Technologies from $277.00 to $270.00 and set a “sector perform” rating on the stock in a research report on Thursday, November 9th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on FLEETCOR Technologies from $310.00 to $300.00 and set a “buy” rating on the stock in a research report on Wednesday, August 9th. Six investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $282.27.

FLEETCOR Technologies Company Profile

FLEETCOR Technologies, Inc, a business payments company that helps businesses spend less by enabling them to manage their expense-related purchasing and vendor payments processes. It offers corporate payments solutions, such as accounts payable automation; Virtual Card, which provides a single-use card number for a specific amount usable within a defined timeframe; Cross-Border that is used by its customers to pay international vendors, foreign office and personnel expenses, capital expenditures, and profit repatriation and dividends; and purchasing cards and travel and entertainment cards for its customers to analyze and manage their corporate spending.