Assenagon Asset Management SA decreased its holdings in shares of FLEETCOR Technologies, Inc. (NYSE:FLT – Get Rating) by 73.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,094 shares of the business services provider’s stock after selling 19,264 shares during the quarter. Assenagon Asset Management SA’s holdings in FLEETCOR Technologies were worth $1,491,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in FLT. DNB Asset Management AS increased its holdings in shares of FLEETCOR Technologies by 2.5% in the first quarter. DNB Asset Management AS now owns 22,193 shares of the business services provider’s stock valued at $5,527,000 after purchasing an additional 546 shares during the period. Nordea Investment Management AB grew its holdings in FLEETCOR Technologies by 8.7% during the first quarter. Nordea Investment Management AB now owns 7,886 shares of the business services provider’s stock worth $1,984,000 after acquiring an additional 631 shares during the period. Brookstone Capital Management boosted its position in FLEETCOR Technologies by 11.6% during the first quarter. Brookstone Capital Management now owns 1,207 shares of the business services provider’s stock worth $302,000 after purchasing an additional 125 shares in the last quarter. Gateway Investment Advisers LLC boosted its position in FLEETCOR Technologies by 18.4% during the first quarter. Gateway Investment Advisers LLC now owns 1,282 shares of the business services provider’s stock worth $319,000 after purchasing an additional 199 shares in the last quarter. Finally, Community Capital Management LLC boosted its position in FLEETCOR Technologies by 125.0% during the first quarter. Community Capital Management LLC now owns 7,200 shares of the business services provider’s stock worth $1,793,000 after purchasing an additional 4,000 shares in the last quarter. Hedge funds and other institutional investors own 91.52% of the company’s stock.
Insider Activity at FLEETCOR Technologies
In related news, insider Alan King sold 1,379 shares of FLEETCOR Technologies stock in a transaction 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 owns 9,250 shares of the company’s stock, valued at $2,066,265. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 6.60% of the company’s stock.
FLEETCOR Technologies Stock Performance
Shares of FLEETCOR Technologies stock opened at $167.48 on Thursday. The stock has a market cap of $12.56 billion, a PE ratio of 14.39, a price-to-earnings-growth ratio of 0.80 and a beta of 1.24. The business has a fifty day simple moving average of $201.83 and a 200-day simple moving average of $221.39. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 1.77. FLEETCOR Technologies, Inc. has a 12 month low of $163.34 and a 12 month high of $282.02.
FLEETCOR Technologies (NYSE:FLT – Get Rating) last released its quarterly earnings data on Wednesday, August 3rd. The business services provider reported $3.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.57 by $0.25. The firm had revenue of $861.28 million during the quarter, compared to analysts’ expectations of $819.94 million. FLEETCOR Technologies had a return on equity of 38.86% and a net margin of 29.27%. On average, sell-side analysts anticipate that FLEETCOR Technologies, Inc. will post 14.68 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
Several brokerages have recently issued reports on FLT. Mizuho upped their price objective on FLEETCOR Technologies from $250.00 to $256.00 and gave the company a “neutral” rating in a research report on Tuesday, August 9th. Barclays dropped their price target on FLEETCOR Technologies from $295.00 to $290.00 and set an “overweight” rating for the company in a research note on Thursday, September 15th. Wells Fargo & Company lowered their target price on FLEETCOR Technologies from $298.00 to $274.00 and set an “overweight” rating for the company in a research note on Thursday, September 8th. Keefe, Bruyette & Woods reduced their target price on FLEETCOR Technologies from $335.00 to $230.00 in a report on Monday, October 10th. Finally, Morgan Stanley cut their price target on FLEETCOR Technologies from $254.00 to $196.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 11th. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $261.91.
About FLEETCOR Technologies
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.
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