Montag & Caldwell LLC Has $23.43 Million Position in FleetCor Technologies, Inc. (FLT)
Montag & Caldwell LLC decreased its stake in shares of FleetCor Technologies, Inc. (NYSE:FLT) by 6.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 162,488 shares of the business services provider’s stock after selling 10,774 shares during the period. Montag & Caldwell LLC owned approximately 0.18% of FleetCor Technologies worth $23,433,000 as of its most recent SEC filing.
A number of other hedge funds have also bought and sold shares of FLT. CWM LLC acquired a new stake in FleetCor Technologies during the first quarter valued at about $4,155,000. Russell Investments Group Ltd. raised its stake in FleetCor Technologies by 5.9% in the first quarter. Russell Investments Group Ltd. now owns 390,775 shares of the business services provider’s stock valued at $59,173,000 after buying an additional 21,727 shares during the last quarter. US Bancorp DE raised its stake in FleetCor Technologies by 4.6% in the first quarter. US Bancorp DE now owns 12,267 shares of the business services provider’s stock valued at $1,858,000 after buying an additional 540 shares during the last quarter. Morgan Stanley raised its stake in FleetCor Technologies by 522.4% in the first quarter. Morgan Stanley now owns 517,598 shares of the business services provider’s stock valued at $78,381,000 after buying an additional 434,443 shares during the last quarter. Finally, Delta Lloyd NV raised its stake in FleetCor Technologies by 48.1% in the first quarter. Delta Lloyd NV now owns 9,049 shares of the business services provider’s stock valued at $1,277,000 after buying an additional 2,940 shares during the last quarter. Institutional investors and hedge funds own 93.82% of the company’s stock.
FleetCor Technologies, Inc. (FLT) traded up 0.26% during trading on Friday, reaching $139.10. 73,479 shares of the company were exchanged. The company’s 50-day moving average price is $147.11 and its 200-day moving average price is $149.43. FleetCor Technologies, Inc. has a 1-year low of $121.52 and a 1-year high of $176.42. The stock has a market capitalization of $12.78 billion, a P/E ratio of 27.50 and a beta of 1.45.
FleetCor Technologies (NYSE:FLT) last released its quarterly earnings data on Thursday, August 3rd. The business services provider reported $1.83 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.83. The company had revenue of $541.24 million during the quarter, compared to analysts’ expectations of $528.33 million. FleetCor Technologies had a net margin of 23.28% and a return on equity of 20.87%. The firm’s quarterly revenue was up 29.5% on a year-over-year basis. During the same period in the previous year, the company earned $1.56 EPS. On average, equities analysts forecast that FleetCor Technologies, Inc. will post $8.37 EPS for the current year.
FleetCor Technologies announced that its board has initiated a stock repurchase plan on Thursday, August 3rd that authorizes the company to repurchase $250.00 million in shares. This repurchase authorization authorizes the business services provider to repurchase up to 1.8% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.
Several analysts have issued reports on FLT shares. Zacks Investment Research lowered shares of FleetCor Technologies from a “hold” rating to a “sell” rating in a research report on Friday, April 28th. Raymond James Financial, Inc. upgraded shares of FleetCor Technologies from an “outperform” rating to a “strong-buy” rating and set a $180.00 target price for the company in a report on Tuesday, May 2nd. Jefferies Group LLC reiterated a “buy” rating and set a $197.00 target price on shares of FleetCor Technologies in a report on Tuesday, May 2nd. Compass Point upgraded shares of FleetCor Technologies from a “neutral” rating to a “buy” rating and set a $170.00 target price for the company in a report on Wednesday, May 3rd. Finally, Citigroup Inc. set a $165.00 target price on shares of FleetCor Technologies and gave the stock a “buy” rating in a report on Thursday, May 4th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $180.86.
About FleetCor Technologies
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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