FleetCor Technologies, Inc. (FLT) Shares Bought by First Personal Financial Services
First Personal Financial Services raised its position in FleetCor Technologies, Inc. (NYSE:FLT) by 49.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 790 shares of the business services provider’s stock after buying an additional 263 shares during the period. First Personal Financial Services’ holdings in FleetCor Technologies were worth $114,000 as of its most recent filing with the SEC.
A number of other large investors have also added to or reduced their stakes in FLT. State of Alaska Department of Revenue acquired a new stake in FleetCor Technologies during the first quarter worth approximately $104,000. Ropes Wealth Advisors LLC raised 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 raised 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 raised 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, Fulton Bank N.A. raised its position in shares of FleetCor Technologies by 7.9% in the second quarter. Fulton Bank N.A. now owns 1,426 shares of the business services provider’s stock worth $206,000 after buying an additional 105 shares during the last quarter. Institutional investors and hedge funds own 94.53% of the company’s stock.
Shares of FleetCor Technologies, Inc. (FLT) opened at 142.69 on Monday. FleetCor Technologies, Inc. has a 1-year low of $121.52 and a 1-year high of $176.42. The firm has a 50 day moving average price of $146.75 and a 200 day moving average price of $149.12. The firm has a market cap of $13.11 billion, a P/E ratio of 28.21 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, hitting the Zacks’ consensus estimate of $1.83. The company had revenue of $541.24 million for 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 business’s revenue was up 29.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.56 EPS. Analysts anticipate that FleetCor Technologies, Inc. will post $8.37 EPS for the current year.
FleetCor Technologies announced that its board has approved a stock buyback plan on Thursday, August 3rd that permits the company to repurchase $250.00 million in shares. This repurchase authorization permits the business services provider to reacquire up to 1.8% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.
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A number of research analysts have commented on the company. Citigroup Inc. upgraded FleetCor Technologies from an “outperform” rating to a “strong-buy” rating and set a $180.00 price objective on the stock in a research report on Tuesday, May 2nd. William Blair reiterated an “outperform” rating on shares of FleetCor Technologies in a research report on Wednesday, July 12th. Jefferies Group LLC reiterated a “buy” rating and issued a $197.00 price objective on shares of FleetCor Technologies in a research report on Wednesday, May 24th. Keefe, Bruyette & Woods set a $202.00 price objective on FleetCor Technologies and gave the company a “buy” rating in a research report on Monday, August 7th. Finally, BidaskClub lowered FleetCor Technologies from a “hold” rating to a “sell” rating in a research report on Thursday, August 10th. Two analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. The stock 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 the company’s stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $145.00, for a total value of $719,635.00. Following the sale, the chief executive officer now owns 27,287 shares in the company, valued at approximately $3,956,615. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 4.60% of the stock is owned by corporate insiders.
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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