Cubist Systematic Strategies LLC Has $1.84 Million Holdings in FleetCor Technologies, Inc. (FLT)
Cubist Systematic Strategies LLC cut its position in shares of FleetCor Technologies, Inc. (NYSE:FLT) by 83.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,723 shares of the business services provider’s stock after selling 64,946 shares during the period. Cubist Systematic Strategies LLC’s holdings in FleetCor Technologies were worth $1,835,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of FLT. Capital Research Global Investors raised its stake in FleetCor Technologies by 156.8% during the second quarter. Capital Research Global Investors now owns 5,377,010 shares of the business services provider’s stock worth $775,419,000 after purchasing an additional 3,283,010 shares during the period. Steadfast Capital Management LP raised its stake in FleetCor Technologies by 251.4% during the second quarter. Steadfast Capital Management LP now owns 2,049,719 shares of the business services provider’s stock worth $295,590,000 after purchasing an additional 1,466,464 shares during the period. FMR LLC raised its stake in FleetCor Technologies by 50.4% during the second quarter. FMR LLC now owns 3,979,648 shares of the business services provider’s stock worth $573,905,000 after purchasing an additional 1,334,164 shares during the period. Tiger Global Management LLC raised its stake in FleetCor Technologies by 62.8% during the second quarter. Tiger Global Management LLC now owns 2,278,774 shares of the business services provider’s stock worth $328,622,000 after purchasing an additional 879,049 shares during the period. Finally, Ameriprise Financial Inc. raised its stake in FleetCor Technologies by 132.0% during the second quarter. Ameriprise Financial Inc. now owns 1,296,851 shares of the business services provider’s stock worth $187,025,000 after purchasing an additional 737,854 shares during the period. 97.61% of the stock is currently owned by institutional investors.
A number of equities analysts have commented on FLT shares. BidaskClub raised shares of FleetCor Technologies from a “sell” rating to a “hold” rating in a research note on Thursday, August 17th. Credit Suisse Group reaffirmed an “outperform” rating on shares of FleetCor Technologies in a research note on Tuesday, September 5th. Zacks Investment Research raised shares of FleetCor Technologies from a “hold” rating to a “buy” rating and set a $160.00 price target on the stock in a research note on Tuesday, August 8th. Citigroup Inc. reissued a “buy” rating and issued a $180.00 price target (up from $165.00) on shares of FleetCor Technologies in a research note on Thursday, July 13th. Finally, Oppenheimer Holdings, Inc. reissued an “outperform” rating and issued a $185.00 price target on shares of FleetCor Technologies in a research note on Tuesday, September 26th. One analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $181.33.
FleetCor Technologies, Inc. (NYSE:FLT) traded down 0.45% during midday trading on Wednesday, hitting $160.82. 38,603 shares of the stock were exchanged. The stock has a market cap of $14.78 billion, a price-to-earnings ratio of 31.80 and a beta of 1.44. FleetCor Technologies, Inc. has a 12-month low of $121.52 and a 12-month high of $176.42. The firm has a 50 day moving average of $149.22 and a 200-day moving average of $145.80.
FleetCor Technologies (NYSE:FLT) last announced its quarterly earnings data on Thursday, August 3rd. The business services provider reported $1.83 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.83. The business had revenue of $541.24 million for the quarter, compared to analyst estimates of $528.33 million. FleetCor Technologies had a net margin of 23.28% and a return on equity of 20.87%. The company’s revenue was up 29.5% on a year-over-year basis. During the same period in the prior year, the firm posted $1.56 EPS. On average, equities analysts expect that FleetCor Technologies, Inc. will post $8.38 earnings per share for the current year.
FleetCor Technologies declared that its board has approved a stock buyback plan on Thursday, August 3rd that allows the company to repurchase $250.00 million in outstanding shares. This repurchase authorization allows the business services provider to buy up to 1.8% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.
In other news, CEO Andrew Blazye sold 8,353 shares of the stock in a transaction dated Thursday, August 31st. The shares were sold at an average price of $144.00, for a total transaction of $1,202,832.00. Following the transaction, the chief executive officer now directly owns 24,766 shares in the company, valued at approximately $3,566,304. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Over the last quarter, insiders have sold 15,758 shares of company stock worth $2,274,115. Insiders own 4.60% of the company’s stock.
TRADEMARK VIOLATION NOTICE: “Cubist Systematic Strategies LLC Has $1.84 Million Holdings in FleetCor Technologies, Inc. (FLT)” was first reported by The Cerbat Gem and is the property of of The Cerbat Gem. If you are viewing this article on another domain, it was stolen and reposted in violation of U.S. and international trademark and copyright laws. The correct version of this article can be viewed at https://www.thecerbatgem.com/2017/10/11/cubist-systematic-strategies-llc-has-1-84-million-holdings-in-fleetcor-technologies-inc-flt.html.
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.
Want to see what other hedge funds are holding FLT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for FleetCor Technologies, Inc. (NYSE:FLT).
Receive News & Stock Ratings for FleetCor Technologies Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FleetCor Technologies Inc. and related stocks with our FREE daily email newsletter.