Comerica Bank boosted its position in FleetCor Technologies, Inc. (NYSE:FLT) by 18.6% during the second quarter, according to its most recent filing with the SEC. The firm owned 48,568 shares of the business services provider’s stock after buying an additional 7,605 shares during the period. Comerica Bank owned about 0.05% of FleetCor Technologies worth $7,206,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the company. State of Alaska Department of Revenue purchased a new position in shares of FleetCor Technologies during the first quarter worth about $104,000. Ropes Wealth Advisors LLC boosted its position in shares of FleetCor Technologies by 112.9% in the first quarter. Ropes Wealth Advisors LLC now owns 745 shares of the business services provider’s stock worth $113,000 after buying an additional 395 shares during the last quarter. Toronto Dominion Bank boosted its position in shares of FleetCor Technologies by 26.6% in the first quarter. Toronto Dominion Bank now owns 1,015 shares of the business services provider’s stock worth $154,000 after buying an additional 213 shares during the last quarter. Tower Research Capital LLC TRC boosted its position in shares of FleetCor Technologies by 1.1% in the first quarter. Tower Research Capital LLC TRC now owns 1,059 shares of the business services provider’s stock worth $160,000 after buying an additional 12 shares during the last quarter. Finally, Commerce Bank purchased a new position in shares of FleetCor Technologies during the first quarter worth about $215,000. Institutional investors own 94.53% of the company’s stock.

FleetCor Technologies, Inc. (NYSE:FLT) opened at 142.69 on Monday. The company has a market cap of $13.11 billion, a PE ratio of 28.21 and a beta of 1.45. The stock has a 50 day moving average of $146.75 and a 200 day moving average of $149.12. FleetCor Technologies, Inc. has a 52 week low of $121.52 and a 52 week high of $176.42.

FleetCor Technologies (NYSE:FLT) last released its earnings results on Thursday, August 3rd. The business services provider reported $1.83 EPS for the quarter, hitting the Zacks’ consensus estimate of $1.83. FleetCor Technologies had a return on equity of 20.87% and a net margin of 23.28%. The firm had revenue of $541.24 million during the quarter, compared to the consensus estimate of $528.33 million. During the same quarter in the previous year, the company posted $1.56 earnings per share. The company’s revenue was up 29.5% compared to the same quarter last year. Equities research analysts predict that FleetCor Technologies, Inc. will post $8.37 EPS for the current fiscal year.

FleetCor Technologies declared that its Board of Directors has initiated a share buyback 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 purchase up to 1.8% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

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Several equities analysts have issued reports on FLT shares. BidaskClub cut shares of FleetCor Technologies from a “hold” rating to a “sell” rating in a research note on Thursday, August 10th. Keefe, Bruyette & Woods set a $202.00 target price on shares of FleetCor Technologies and gave the company a “buy” rating in a research note on Monday, August 7th. Zacks Investment Research upgraded shares of FleetCor Technologies from a “hold” rating to a “buy” rating and set a $160.00 target price on the stock in a research note on Tuesday, August 8th. Citigroup Inc. restated a “buy” rating and set a $180.00 target price (up previously from $165.00) on shares of FleetCor Technologies in a research note on Thursday, July 13th. Finally, J P Morgan Chase & Co restated an “overweight” rating and set a $138.00 target price on shares of FleetCor Technologies in a research note on Thursday, May 4th. Two analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. FleetCor Technologies currently has a consensus rating of “Buy” and a consensus price target of $180.86.

In related news, CEO Andrew Blazye sold 4,963 shares of FleetCor Technologies stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $145.00, for a total transaction of $719,635.00. Following the completion of the sale, the chief executive officer now owns 27,287 shares of the company’s stock, valued at $3,956,615. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 4.60% of the company’s stock.

FleetCor Technologies Company Profile

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.

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

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