Insider Selling: FleetCor Technologies, Inc. (FLT) CEO Sells $1,202,832.00 in Stock
FleetCor Technologies, Inc. (NYSE:FLT) CEO Andrew Blazye sold 8,353 shares of the firm’s stock in a transaction dated Thursday, August 31st. The shares were sold at an average price of $144.00, for a total value of $1,202,832.00. Following the completion of the sale, the chief executive officer now owns 24,766 shares of the company’s stock, valued at $3,566,304. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.
Andrew Blazye also recently made the following trade(s):
- On Wednesday, August 30th, Andrew Blazye sold 2,442 shares of FleetCor Technologies stock. The shares were sold at an average price of $144.00, for a total value of $351,648.00.
- On Wednesday, August 16th, Andrew Blazye sold 4,963 shares of FleetCor Technologies stock. The shares were sold at an average price of $145.00, for a total value of $719,635.00.
FleetCor Technologies, Inc. (FLT) opened at 143.92 on Monday. The firm’s 50-day moving average price is $145.96 and its 200-day moving average price is $148.29. The firm has a market cap of $13.22 billion, a P/E ratio of 28.45 and a beta of 1.43. FleetCor Technologies, Inc. has a 1-year low of $121.52 and a 1-year high of $176.42.
FleetCor Technologies (NYSE:FLT) last announced its earnings results on Thursday, August 3rd. The business services provider reported $1.83 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $1.83. FleetCor Technologies had a net margin of 23.28% and a return on equity of 20.87%. The business had revenue of $541.24 million during the quarter, compared to the consensus estimate of $528.33 million. During the same quarter last year, the firm earned $1.56 earnings per share. The business’s revenue for the quarter was up 29.5% on a year-over-year basis. Equities research analysts anticipate that FleetCor Technologies, Inc. will post $8.37 earnings per share for the current fiscal year.
FleetCor Technologies declared that its Board of Directors has authorized a share buyback plan on Thursday, August 3rd that allows the company to buyback $250.00 million in shares. This buyback authorization allows the business services provider to buy up to 1.8% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.
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Hedge funds and other institutional investors have recently made changes to their positions in the business. State of Alaska Department of Revenue bought a new position in shares of FleetCor Technologies during the first quarter valued at approximately $104,000. Commonwealth Bank of Australia grew its holdings in shares of FleetCor Technologies by 13.0% during the second quarter. Commonwealth Bank of Australia now owns 740 shares of the business services provider’s stock valued at $105,000 after buying an additional 85 shares during the last quarter. Ropes Wealth Advisors LLC grew its holdings in shares of FleetCor Technologies by 112.9% during the first quarter. Ropes Wealth Advisors LLC now owns 745 shares of the business services provider’s stock valued at $113,000 after buying an additional 395 shares during the last quarter. First Personal Financial Services grew its holdings in shares of FleetCor Technologies by 49.9% during the second quarter. First Personal Financial Services now owns 790 shares of the business services provider’s stock valued at $114,000 after buying an additional 263 shares during the last quarter. Finally, Fiduciary Trust Co. purchased a new stake in shares of FleetCor Technologies during the second quarter valued at approximately $115,000. 97.61% of the stock is owned by institutional investors and hedge funds.
Several analysts have recently commented on the company. BidaskClub downgraded FleetCor Technologies from a “hold” rating to a “sell” rating in a research note on Tuesday, June 13th. Citigroup Inc. restated a “buy” rating and issued a $180.00 target price (up from $165.00) on shares of FleetCor Technologies in a research note on Thursday, July 13th. William Blair restated an “outperform” rating on shares of FleetCor Technologies in a research note on Wednesday, July 12th. Keefe, Bruyette & Woods set a $202.00 target price on FleetCor Technologies and gave the company a “buy” rating in a research note on Monday, August 7th. Finally, Zacks Investment Research upgraded FleetCor Technologies from a “hold” rating to a “buy” rating and set a $160.00 target price for the company in a research note on Tuesday, August 8th. Two investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. FleetCor Technologies presently has an average rating of “Buy” and an average price target of $180.86.
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.
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