FleetCor Technologies, Inc. (FLT) Stake Boosted by Glenmede Trust Co. NA
Glenmede Trust Co. NA grew its position in shares of FleetCor Technologies, Inc. (NYSE:FLT) by 980.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 268,875 shares of the business services provider’s stock after acquiring an additional 243,983 shares during the period. Glenmede Trust Co. NA owned about 0.30% of FleetCor Technologies worth $56,639,000 as of its most recent SEC filing.
Several other large investors have also recently modified their holdings of FLT. Fort L.P. bought a new position in shares of FleetCor Technologies during the second quarter valued at about $122,000. Meeder Asset Management Inc. bought a new position in shares of FleetCor Technologies during the second quarter valued at about $150,000. Captrust Financial Advisors raised its stake in shares of FleetCor Technologies by 262.0% during the second quarter. Captrust Financial Advisors now owns 782 shares of the business services provider’s stock valued at $165,000 after acquiring an additional 566 shares during the last quarter. NuWave Investment Management LLC bought a new position in shares of FleetCor Technologies during the second quarter valued at about $180,000. Finally, Peregrine Capital Management LLC bought a new position in shares of FleetCor Technologies during the second quarter valued at about $190,000. 98.13% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE FLT opened at $218.75 on Tuesday. FleetCor Technologies, Inc. has a 1 year low of $145.27 and a 1 year high of $225.92. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.88 and a current ratio of 0.88. The stock has a market cap of $19.54 billion, a P/E ratio of 24.51, a P/E/G ratio of 1.36 and a beta of 1.49.
FLT has been the subject of several recent analyst reports. Citigroup upped their price objective on shares of FleetCor Technologies from $240.00 to $260.00 and gave the company a “buy” rating in a research note on Friday, July 20th. Zacks Investment Research downgraded shares of FleetCor Technologies from a “buy” rating to a “sell” rating in a research note on Tuesday, July 10th. Wolfe Research initiated coverage on shares of FleetCor Technologies in a research note on Tuesday, July 17th. They set an “outperform” rating for the company. Finally, Morgan Stanley upped their price objective on shares of FleetCor Technologies from $238.00 to $240.00 and gave the company a “buy” rating in a research note on Friday, August 3rd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and ten have issued a buy rating to the stock. FleetCor Technologies presently has a consensus rating of “Buy” and an average price target of $230.80.
FleetCor Technologies Profile
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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