FleetCor Technologies, Inc. (FLT) Shares Sold by Standard Life Investments LTD
Standard Life Investments LTD reduced its position in shares of FleetCor Technologies, Inc. (NYSE:FLT) by 57.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 936,275 shares of the business services provider’s stock after selling 1,289,658 shares during the period. Standard Life Investments LTD owned about 1.02% of FleetCor Technologies worth $135,001,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC boosted its position in shares of FleetCor Technologies by 1.1% during 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 period. Boston Private Wealth LLC boosted its position in shares of FleetCor Technologies by 1.8% during the first quarter. Boston Private Wealth LLC now owns 1,517 shares of the business services provider’s stock worth $230,000 after buying an additional 27 shares during the period. World Asset Management Inc boosted its position in shares of FleetCor Technologies by 0.9% during the second quarter. World Asset Management Inc now owns 4,182 shares of the business services provider’s stock worth $603,000 after buying an additional 36 shares during the period. Sumitomo Mitsui Asset Management Company LTD boosted its position in shares of FleetCor Technologies by 0.7% during the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 6,912 shares of the business services provider’s stock worth $996,000 after buying an additional 48 shares during the period. Finally, Nordea Investment Management AB boosted its position in shares of FleetCor Technologies by 2.0% during the first quarter. Nordea Investment Management AB now owns 2,740 shares of the business services provider’s stock worth $415,000 after buying an additional 53 shares during the period. Institutional investors and hedge funds own 97.61% of the company’s stock.
Shares of FleetCor Technologies, Inc. (NYSE FLT) traded up 0.107% during trading on Thursday, reaching $144.915. The company had a trading volume of 173,669 shares. FleetCor Technologies, Inc. has a 52-week low of $121.52 and a 52-week high of $176.42. The stock has a 50 day moving average of $144.93 and a 200 day moving average of $146.97. The stock has a market capitalization of $13.31 billion, a price-to-earnings ratio of 28.651 and a beta of 1.43.
FleetCor Technologies (NYSE:FLT) last issued its earnings results 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. FleetCor Technologies had a net margin of 23.28% and a return on equity of 20.87%. The firm had revenue of $541.24 million for the quarter, compared to analysts’ expectations of $528.33 million. During the same quarter last year, the company posted $1.56 earnings per share. FleetCor Technologies’s revenue was up 29.5% on a year-over-year basis. Equities research analysts forecast that FleetCor Technologies, Inc. will post $8.37 EPS for the current year.
FleetCor Technologies announced that its Board of Directors has approved a stock repurchase plan on Thursday, August 3rd that permits the company to repurchase $250.00 million in outstanding 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 typically a sign that the company’s management believes its shares are undervalued.
Several research firms have recently commented on FLT. BidaskClub lowered FleetCor Technologies from a “hold” rating to a “sell” rating in a research report on Tuesday, June 13th. Citigroup Inc. restated a “buy” rating and set a $180.00 price target (up from $165.00) on shares of FleetCor Technologies in a research report on Thursday, July 13th. William Blair restated an “outperform” rating on shares of FleetCor Technologies in a research report on Wednesday, July 12th. Keefe, Bruyette & Woods set a $202.00 price target on FleetCor Technologies and gave the stock a “buy” rating in a research report on Monday, August 7th. Finally, Credit Suisse Group reiterated an “outperform” rating on shares of FleetCor Technologies in a report on Tuesday, September 5th. Two research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. FleetCor Technologies currently has a consensus rating of “Buy” and a consensus price target of $180.86.
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In other FleetCor Technologies news, 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 transaction, 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold 15,758 shares of company stock worth $2,274,115 in the last three months. 4.30% of the stock is currently owned by corporate insiders.
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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