MetLife Investment Advisors LLC acquired a new stake in shares of FleetCor Technologies, Inc. (NYSE:FLT) during the 2nd quarter, HoldingsChannel.com reports. The fund acquired 26,387 shares of the business services provider’s stock, valued at approximately $5,558,000.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. IFP Advisors Inc raised its position in FleetCor Technologies by 9.2% during the second quarter. IFP Advisors Inc now owns 3,501 shares of the business services provider’s stock valued at $737,000 after acquiring an additional 295 shares in the last quarter. PNC Financial Services Group Inc. raised its position in FleetCor Technologies by 14.6% during the second quarter. PNC Financial Services Group Inc. now owns 2,406 shares of the business services provider’s stock valued at $508,000 after acquiring an additional 307 shares in the last quarter. IBM Retirement Fund raised its position in FleetCor Technologies by 16.9% during the first quarter. IBM Retirement Fund now owns 2,625 shares of the business services provider’s stock valued at $532,000 after acquiring an additional 380 shares in the last quarter. Cubist Systematic Strategies LLC raised its position in FleetCor Technologies by 33.0% during the first quarter. Cubist Systematic Strategies LLC now owns 1,575 shares of the business services provider’s stock valued at $319,000 after acquiring an additional 391 shares in the last quarter. Finally, Pendal Group Ltd raised its position in FleetCor Technologies by 18.6% during the second quarter. Pendal Group Ltd now owns 2,824 shares of the business services provider’s stock valued at $595,000 after acquiring an additional 443 shares in the last quarter. 98.18% of the stock is currently owned by hedge funds and other institutional investors.

Several equities analysts recently weighed in on FLT shares. Zacks Investment Research lowered shares of FleetCor Technologies from a “buy” rating to a “sell” rating in a research report on Tuesday, July 10th. Citigroup raised their price objective on shares of FleetCor Technologies from $240.00 to $260.00 and gave the company a “buy” rating in a research report on Friday, July 20th. Wolfe Research began coverage on shares of FleetCor Technologies in a research report on Tuesday, July 17th. They set an “outperform” rating on the stock. Finally, Morgan Stanley lifted their price target on shares of FleetCor Technologies from $238.00 to $240.00 and gave the company a “buy” rating in a research report on Friday, August 3rd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have assigned a buy rating to the company’s stock. FleetCor Technologies presently has an average rating of “Buy” and an average target price of $230.80.

NYSE:FLT opened at $221.08 on Monday. FleetCor Technologies, Inc. has a 12 month low of $144.12 and a 12 month high of $225.92. The company has a market capitalization of $19.53 billion, a PE ratio of 28.06, a PEG ratio of 1.36 and a beta of 1.48. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.88 and a current ratio of 0.88.

FleetCor Technologies (NYSE:FLT) last released its quarterly earnings results on Thursday, August 2nd. The business services provider reported $2.57 EPS for the quarter, beating the Zacks’ consensus estimate of $2.52 by $0.05. FleetCor Technologies had a net margin of 35.50% and a return on equity of 23.23%. The company had revenue of $585.00 million for the quarter, compared to analyst estimates of $596.27 million. During the same quarter last year, the firm posted $1.99 earnings per share. The company’s quarterly revenue was up 8.1% compared to the same quarter last year. analysts predict that FleetCor Technologies, Inc. will post 9.84 earnings per share for the current fiscal year.

About FleetCor Technologies

FleetCor Technologies, Inc provides commercial payment solutions in North America, Latin America, Europe, and Australasia. The company offers fuel payment solutions to businesses and government entities that operate vehicle fleets, as well as to oil and leasing companies, and fuel marketers. Its fuel payment products are in the form of plastic cards, electronic RFID tags, and paper vouchers to purchase fuel, oil, vehicle maintenance supplies and services, and building supplies.

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

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