Swiss National Bank Grows Holdings in FleetCor Technologies, Inc. (FLT)
Swiss National Bank grew its position in shares of FleetCor Technologies, Inc. (NYSE:FLT) by 1.8% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 334,600 shares of the business services provider’s stock after purchasing an additional 5,800 shares during the period. Swiss National Bank owned approximately 0.36% of FleetCor Technologies worth $48,253,000 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in FLT. State of Alaska Department of Revenue acquired a new position in FleetCor Technologies during the first quarter worth $104,000. First Personal Financial Services lifted its stake in FleetCor Technologies by 49.9% during the second quarter. First Personal Financial Services now owns 790 shares of the business services provider’s stock worth $114,000 after purchasing an additional 263 shares in the last quarter. Toronto Dominion Bank lifted its stake in FleetCor Technologies by 26.6% during the first quarter. Toronto Dominion Bank now owns 1,015 shares of the business services provider’s stock worth $154,000 after purchasing an additional 213 shares in the last quarter. Tower Research Capital LLC TRC lifted its stake in FleetCor Technologies by 1.1% during the first quarter. Tower Research Capital LLC TRC now owns 1,059 shares of the business services provider’s stock worth $160,000 after purchasing an additional 12 shares in the last quarter. Finally, Fulton Bank N.A. lifted its stake in FleetCor Technologies by 7.9% during the second quarter. Fulton Bank N.A. now owns 1,426 shares of the business services provider’s stock worth $206,000 after purchasing an additional 105 shares in the last quarter. Institutional investors own 97.61% of the company’s stock.
In related news, CEO Andrew Blazye sold 4,963 shares of FleetCor Technologies stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $145.00, for a total transaction of $719,635.00. Following the transaction, the chief executive officer now owns 27,287 shares in the company, valued at approximately $3,956,615. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold a total of 15,758 shares of company stock worth $2,274,115 in the last 90 days. Company insiders own 4.60% of the company’s stock.
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Shares of FleetCor Technologies, Inc. (FLT) opened at 141.29 on Wednesday. The stock has a market cap of $12.98 billion, a price-to-earnings ratio of 27.93 and a beta of 1.43. The stock’s 50 day moving average price is $145.69 and its 200-day moving average price is $147.70. FleetCor Technologies, Inc. has a 52-week low of $121.52 and a 52-week high of $176.42.
FleetCor Technologies (NYSE:FLT) last posted its earnings results on Thursday, August 3rd. The business services provider reported $1.83 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.83. The business had revenue of $541.24 million for the quarter, compared to analyst estimates of $528.33 million. FleetCor Technologies had a net margin of 23.28% and a return on equity of 20.87%. The business’s quarterly revenue was up 29.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.56 EPS. On average, analysts predict that FleetCor Technologies, Inc. will post $8.37 earnings per share for the current fiscal year.
FleetCor Technologies declared that its board has authorized a stock buyback plan on Thursday, August 3rd that allows the company to buyback $250.00 million in outstanding shares. This buyback authorization allows the business services provider to reacquire up to 1.8% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.
FLT has been the topic of a number of research reports. Jefferies Group LLC restated a “buy” rating and set a $197.00 price target on shares of FleetCor Technologies in a research note on Wednesday, May 24th. BidaskClub cut FleetCor Technologies from a “hold” rating to a “sell” rating in a research note on Tuesday, June 13th. William Blair restated an “outperform” rating on shares of FleetCor Technologies in a research note on Wednesday, July 12th. Citigroup Inc. restated a “buy” rating and set a $180.00 price target (up from $165.00) on shares of FleetCor Technologies in a research note on Thursday, July 13th. Finally, Keefe, Bruyette & Woods set a $202.00 price target on FleetCor Technologies and gave the stock a “buy” rating in a research note on Monday, August 7th. Two research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $180.86.
FleetCor Technologies Company Profile
FleetCor Technologies, Inc is a provider of workforce payment products. The Company offers fuel card payments product solutions, corporate payments products, toll products, lodging cards and gift cards. The Company operates through two segments: North America and International. Its products are sold to businesses, retailers, oil companies and marketers and government entities.
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