Gadgets

FLEETCOR Technologies, Inc. (NYSE:FLT) Shares Purchased by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC boosted its stake in shares of FLEETCOR Technologies, Inc. (NYSE:FLT – Get Rating) by 48.6% during the 2nd quarter, Holdings Channel.com reports. The firm owned 1,140 shares of the business services provider’s stock after acquiring an additional 373 shares during the period. Exchange Traded Concepts LLC’s holdings in FLEETCOR Technologies were worth $240,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of FLT. Boston Partners increased its holdings in FLEETCOR Technologies by 32.2% during the 1st quarter. Boston Partners now owns 2,122,816 shares of the business services provider’s stock worth $528,732,000 after purchasing an additional 517,046 shares during the period. Wellington Management Group LLP increased its holdings in FLEETCOR Technologies by 5.0% during the 1st quarter. Wellington Management Group LLP now owns 4,836,861 shares of the business services provider’s stock worth $1,204,669,000 after purchasing an additional 228,606 shares during the period. Black Rock Inc. increased its holdings in FLEETCOR Technologies by 3.5% during the 1st quarter. Black Rock Inc. now owns 6,118,876 shares of the business services provider’s stock worth $1,523,967,000 after purchasing an additional 207,098 shares during the period. Wedge Capital Management LLP NC purchased a new stake in FLEETCOR Technologies during the 2nd quarter worth about $39,466,000. Finally, Vanguard Group Inc. increased its holdings in FLEETCOR Technologies by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 8,624,531 shares of the business services provider’s stock worth $2,148.025,000 after purchasing an additional 111.367 shares during the period. Hedge funds and other institutional investors own 91.52% of the company’s stock.

Insiders Place Their Bets

In other FLEETCOR Technologies news, insider Alan King sold 1,379 shares of the stock in a transaction that occurred on Monday, September 12th. The stock was sold at an average price of $223.38, for a total transaction of $308,041.02. Following the completion of the sale, the insider now directly owns 9,250 shares of the company’s stock, valued at approximately $2,066,265. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 6.60% of the stock is owned by insiders.

Analyst Ratings Changes

Want More Great Investing Ideas?

Several brokerages have weighed in on FLT. Citigroup upped their price target on FLEETCOR Technologies from $335.00 to $345.00 and gave the stock a “buy” rating in a report on Thursday, June 9th. Truist Financial dropped their price objective on FLEETCOR Technologies from $290.00 to $275.00 and set a “buy” rating on the stock in a report on Thursday, June 30th. Wells Fargo & Company dropped their price objective on FLEETCOR Technologies from $298.00 to $274.00 and set an “overweight” rating on the stock in a report on Thursday, September 8th. Barclays dropped their price objective on FLEETCOR Technologies from $295.00 to $290.00 and set an “overweight” rating on the stock in a report on Thursday, September 15th. Finally, Royal Bank of Canada dropped their price objective on FLEETCOR Technologies from $300.00 to $265.00 and set a “sector perform” rating on the stock in a report on Thursday, August 4th. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $275.90.

FLEETCOR Technologies Stock Down 2.6%

FLEETCOR Technologies stock opened at $182.24 on Friday. FLEETCOR Technologies, Inc. has a twelve month low of $173.34 and a twelve month high of $282.02. The stock has a 50 day moving average of $211.30 and a two-hundred day moving average of $226.18. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 1.77. The stock has a market capitalization of $13.67 billion, a price-to-earnings ratio of 15.66, a PEG ratio of 0.91 and a beta of 1.24.

FLEETCOR Technologies (NYSE:FLT – Get Rating) last posted its quarterly earnings data on Wednesday, August 3rd. The business services provider reported $3.82 earnings per share for the quarter, topping analysts’ consensus estimates of $3.57 by $0.25. FLEETCOR Technologies had a return on equity of 38.86% and a net margin of 29.27%. The company had revenue of $861.28 million during the quarter, compared to analysts’ expectations of $819.94 million. As a group, research analysts expect that FLEETCOR Technologies, Inc. will post 14.7 earnings per share for the current year.

FLEETCOR Technologies Company Profile

(Get Rating)

FLEETCOR Technologies, Inc. provides digital payment solutions for businesses to control purchases and make payments. 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.

Further Reading

Want to see what other hedge funds are holding FLT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for FLEETCOR Technologies, Inc. (NYSE:FLT – Get Rating).

Institutional Ownership by Quarter for FLEETCOR Technologies (NYSE:FLT)

Receive News & Ratings for FLEETCOR Technologies Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for FLEETCOR Technologies and related companies with MarketBeat.com’s FREE daily email newsletter.