ClariVest Asset Management LLC Has $13,754,000 Stake in FleetCor Technologies Inc. (FLT)
ClariVest Asset Management LLC raised its position in shares of FleetCor Technologies Inc. (NYSE:FLT) by 0.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 96,094 shares of the company’s stock after buying an additional 103 shares during the period. ClariVest Asset Management LLC owned 0.10% of FleetCor Technologies worth $13,754,000 as of its most recent filing with the SEC.
Several other large investors have also modified their holdings of FLT. Wellington Management Group LLP increased its stake in shares of FleetCor Technologies by 63.3% in the first quarter. Wellington Management Group LLP now owns 1,303,071 shares of the company’s stock worth $193,832,000 after buying an additional 505,080 shares in the last quarter. Sachem Head Capital Management LP acquired a new stake in shares of FleetCor Technologies during the first quarter worth $74,375,000. Southpoint Capital Advisors LP acquired a new stake in shares of FleetCor Technologies during the first quarter worth $70,656,000. Foxhaven Asset Management LP acquired a new stake in shares of FleetCor Technologies during the first quarter worth $41,614,000. Finally, Banbury Partners LLC acquired a new stake in shares of FleetCor Technologies during the first quarter worth $23,235,000. 92.15% of the stock is currently owned by hedge funds and other institutional investors.
FleetCor Technologies Inc. (NYSE:FLT) traded up 0.80% on Thursday, hitting $174.55. The stock had a trading volume of 707,352 shares. The stock’s 50-day moving average is $167.99 and its 200-day moving average is $154.46. FleetCor Technologies Inc. has a 52-week low of $107.56 and a 52-week high of $174.84. The company has a market cap of $16.16 billion, a P/E ratio of 41.85 and a beta of 1.24.
FleetCor Technologies (NYSE:FLT) last released its quarterly earnings results on Thursday, August 4th. The company reported $1.56 EPS for the quarter, beating analysts’ consensus estimates of $1.54 by $0.02. The firm earned $417.90 million during the quarter, compared to analyst estimates of $415.20 million. FleetCor Technologies had a net margin of 22.97% and a return on equity of 18.16%. The business’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same period in the previous year, the business earned $1.48 EPS. Analysts expect that FleetCor Technologies Inc. will post $6.86 earnings per share for the current year.
FLT has been the topic of a number of research analyst reports. Barclays PLC raised their target price on FleetCor Technologies from $170.00 to $190.00 and gave the company an “overweight” rating in a report on Wednesday, September 21st. Zacks Investment Research raised FleetCor Technologies from a “hold” rating to a “strong-buy” rating and set a $197.00 target price on the stock in a report on Tuesday. Monness Crespi & Hardt raised their target price on FleetCor Technologies from $173.00 to $186.00 and gave the company a “buy” rating in a report on Monday, September 19th. Jefferies Group reaffirmed a “buy” rating and issued a $186.00 target price on shares of FleetCor Technologies in a report on Thursday, September 29th. Finally, Deutsche Bank AG reaffirmed a “buy” rating and issued a $163.00 target price (down previously from $180.00) on shares of FleetCor Technologies in a report on Thursday, September 1st. Three investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. FleetCor Technologies currently has a consensus rating of “Buy” and a consensus price target of $171.00.
In related news, EVP Charles Richard Freund sold 21,969 shares of the company’s stock in a transaction on Tuesday, July 12th. The shares were sold at an average price of $149.00, for a total value of $3,273,381.00. Following the completion of the transaction, the executive vice president now directly owns 30,663 shares in the company, valued at $4,568,787. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Todd House sold 4,327 shares of the company’s stock in a transaction on Tuesday, July 12th. The stock was sold at an average price of $150.00, for a total transaction of $649,050.00. Following the completion of the transaction, the insider now owns 11,637 shares of the company’s stock, valued at $1,745,550. 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.
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