Alta Capital Management LLC cut its position in shares of FleetCor Technologies Inc. (NYSE:FLT) by 9.8% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 97,624 shares of the company’s stock after selling 10,647 shares during the period. Alta Capital Management LLC’s holdings in FleetCor Technologies were worth $16,960,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Checchi Capital Advisers LLC boosted its position in FleetCor Technologies by 2.0% in the second quarter. Checchi Capital Advisers LLC now owns 776 shares of the company’s stock worth $111,000 after buying an additional 15 shares in the last quarter. Pacer Advisors Inc. boosted its position in FleetCor Technologies by 10.4% in the second quarter. Pacer Advisors Inc. now owns 814 shares of the company’s stock worth $117,000 after buying an additional 77 shares in the last quarter. Invictus RG acquired a new position in FleetCor Technologies during the second quarter worth about $125,000. Advisory Services Network LLC boosted its position in FleetCor Technologies by 144.1% in the second quarter. Advisory Services Network LLC now owns 1,084 shares of the company’s stock worth $155,000 after buying an additional 640 shares in the last quarter. Finally, Mizuho Asset Management Co. Ltd. boosted its position in FleetCor Technologies by 130.0% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 1,249 shares of the company’s stock worth $179,000 after buying an additional 706 shares in the last quarter. 93.42% of the stock is owned by institutional investors and hedge funds.
Shares of FleetCor Technologies Inc. (NYSE:FLT) traded down 2.51% during trading on Monday, hitting $149.79. The company had a trading volume of 515,916 shares. The stock has a market capitalization of $13.90 billion, a price-to-earnings ratio of 34.71 and a beta of 1.40. The stock has a 50-day moving average of $161.35 and a 200 day moving average of $157.38. FleetCor Technologies Inc. has a 12-month low of $107.56 and a 12-month high of $176.42.
FleetCor Technologies (NYSE:FLT) last released its quarterly earnings data on Tuesday, November 1st. The company reported $1.92 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.86 by $0.06. The business earned $484.40 million during the quarter, compared to analysts’ expectations of $491.45 million. FleetCor Technologies had a net margin of 23.27% and a return on equity of 18.53%. During the same period in the previous year, the company earned $1.67 EPS. The company’s revenue for the quarter was up 7.3% on a year-over-year basis. On average, analysts predict that FleetCor Technologies Inc. will post $6.88 EPS for the current fiscal year.
FLT has been the subject of a number of research analyst reports. Jefferies Group reaffirmed a “buy” rating and issued a $186.00 price target on shares of FleetCor Technologies in a report on Thursday, September 29th. Monness Crespi & Hardt boosted their price objective on FleetCor Technologies from $173.00 to $186.00 and gave the stock a “buy” rating in a report on Monday, September 19th. Deutsche Bank AG reissued a “buy” rating and set a $163.00 price objective (down from $180.00) on shares of FleetCor Technologies in a report on Thursday, September 1st. Morgan Stanley set a $170.00 price objective on FleetCor Technologies and gave the stock a “buy” rating in a report on Friday, August 5th. Finally, SunTrust Banks Inc. set a $200.00 price objective on FleetCor Technologies and gave the stock a “buy” rating in a report on Wednesday, November 2nd. Three research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $175.21.
In related news, Director Joseph W. Farrelly sold 1,200 shares of the business’s stock in a transaction on Wednesday, September 7th. The shares were sold at an average price of $168.73, for a total value of $202,476.00. Following the completion of the sale, the director now directly owns 3,224 shares of the company’s stock, valued at $543,985.52. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Todd House sold 8,000 shares of the business’s stock in a transaction on Thursday, September 15th. The shares were sold at an average price of $163.00, for a total transaction of $1,304,000.00. Following the completion of the sale, the insider now directly owns 19,637 shares of the company’s stock, valued at $3,200,831. The disclosure for this sale can be found here. 4.30% of the stock is currently owned by corporate insiders.
About FleetCor Technologies
FleetCor Technologies, Inc is an independent global provider of fuel cards, commercial payment and data solutions, stored value solutions, and workforce payment products and services to businesses, retailers, commercial fleets, oil companies, petroleum marketers and government entities in countries throughout North America, Latin America, Europe, Australia and New Zealand.