AHL Partners LLP Purchases 10,412 Shares of FleetCor Technologies, Inc. (FLT)
AHL Partners LLP boosted its position in FleetCor Technologies, Inc. (NYSE:FLT) by 687.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 11,927 shares of the business services provider’s stock after acquiring an additional 10,412 shares during the period. AHL Partners LLP’s holdings in FleetCor Technologies were worth $1,720,000 as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in FLT. FMR LLC boosted its holdings in FleetCor Technologies by 50.4% in the second quarter. FMR LLC now owns 3,979,648 shares of the business services provider’s stock worth $573,905,000 after acquiring an additional 1,334,164 shares in the last quarter. Tiger Global Management LLC boosted its holdings in FleetCor Technologies by 62.8% in the second quarter. Tiger Global Management LLC now owns 2,278,774 shares of the business services provider’s stock worth $328,622,000 after acquiring an additional 879,049 shares in the last quarter. Ameriprise Financial Inc. boosted its holdings in FleetCor Technologies by 132.0% in the second quarter. Ameriprise Financial Inc. now owns 1,296,851 shares of the business services provider’s stock worth $187,025,000 after acquiring an additional 737,854 shares in the last quarter. Vanguard Group Inc. boosted its holdings in FleetCor Technologies by 6.7% in the second quarter. Vanguard Group Inc. now owns 7,565,263 shares of the business services provider’s stock worth $1,090,988,000 after acquiring an additional 474,254 shares in the last quarter. Finally, Morgan Stanley boosted its holdings in FleetCor Technologies by 522.4% in the first quarter. Morgan Stanley now owns 517,598 shares of the business services provider’s stock worth $78,381,000 after acquiring an additional 434,443 shares in the last quarter. Institutional investors and hedge funds own 97.61% of the company’s stock.
A number of research analysts have recently weighed in on FLT shares. BidaskClub upgraded FleetCor Technologies from a “sell” rating to a “hold” rating in a report on Thursday, August 17th. Credit Suisse Group restated an “outperform” rating on shares of FleetCor Technologies in a report on Tuesday, September 5th. Zacks Investment Research upgraded FleetCor Technologies from a “hold” rating to a “buy” rating and set a $160.00 target price on the stock in a report on Tuesday, August 8th. Citigroup Inc. restated a “buy” rating and issued a $180.00 target price (up previously from $165.00) on shares of FleetCor Technologies in a report on Thursday, July 13th. Finally, Oppenheimer Holdings, Inc. restated an “outperform” rating and issued a $185.00 target price on shares of FleetCor Technologies in a report on Tuesday, September 26th. One analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $181.33.
In related news, CEO Andrew Blazye sold 8,353 shares of the company’s stock in a transaction that occurred on Thursday, August 31st. The stock was sold at an average price of $144.00, for a total value of $1,202,832.00. Following the sale, the chief executive officer now owns 24,766 shares in the company, valued at approximately $3,566,304. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders sold a total of 15,758 shares of company stock worth $2,274,115 in the last 90 days. 4.30% of the stock is currently owned by company insiders.
Shares of FleetCor Technologies, Inc. (FLT) opened at 160.62 on Friday. The company has a market capitalization of $14.76 billion, a price-to-earnings ratio of 31.76 and a beta of 1.44. FleetCor Technologies, Inc. has a one year low of $121.52 and a one year high of $176.42. The company’s 50-day moving average price is $150.81 and its 200-day moving average price is $146.05.
FleetCor Technologies (NYSE:FLT) last posted its quarterly earnings results on Thursday, August 3rd. The business services provider reported $1.83 earnings per share for the quarter, hitting the consensus estimate of $1.83. The company had revenue of $541.24 million for the quarter, compared to the consensus estimate of $528.33 million. FleetCor Technologies had a return on equity of 20.87% and a net margin of 23.28%. The firm’s quarterly revenue was up 29.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.56 EPS. On average, equities research analysts predict that FleetCor Technologies, Inc. will post $8.38 earnings per share for the current year.
FleetCor Technologies declared that its board has initiated a stock repurchase plan on Thursday, August 3rd that allows the company to repurchase $250.00 million in outstanding shares. This repurchase authorization allows the business services provider to repurchase up to 1.8% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is undervalued.
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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