FleetCor Technologies, Inc. (FLT) Stake Decreased by Cadinha & Co. LLC
Cadinha & Co. LLC decreased its holdings in FleetCor Technologies, Inc. (NYSE:FLT) by 55.0% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,310 shares of the business services provider’s stock after selling 1,600 shares during the period. Cadinha & Co. LLC’s holdings in FleetCor Technologies were worth $203,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in shares of FleetCor Technologies by 6.7% in the 2nd quarter. Vanguard Group Inc. now owns 7,565,263 shares of the business services provider’s stock worth $1,090,988,000 after purchasing an additional 474,254 shares in the last quarter. Capital Research Global Investors increased its stake in shares of FleetCor Technologies by 156.8% in the 2nd quarter. Capital Research Global Investors now owns 5,377,010 shares of the business services provider’s stock valued at $775,419,000 after purchasing an additional 3,283,010 shares in the last quarter. FMR LLC increased its stake in shares of FleetCor Technologies by 50.4% in the 2nd quarter. FMR LLC now owns 3,979,648 shares of the business services provider’s stock valued at $573,905,000 after purchasing an additional 1,334,164 shares in the last quarter. Tiger Global Management LLC boosted its holdings in FleetCor Technologies by 62.8% in the 2nd quarter. Tiger Global Management LLC now owns 2,278,774 shares of the business services provider’s stock worth $328,622,000 after buying an additional 879,049 shares during the last quarter. Finally, Steadfast Capital Management LP raised its position in FleetCor Technologies by 251.4% in the second quarter. Steadfast Capital Management LP now owns 2,049,719 shares of the business services provider’s stock valued at $295,590,000 after purchasing an additional 1,466,464 shares during the period. 95.76% of the stock is owned by institutional investors.
FLT has been the subject of several recent research reports. Morgan Stanley increased their target price on shares of FleetCor Technologies from $184.00 to $189.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 18th. Zacks Investment Research cut shares of FleetCor Technologies from a “buy” rating to a “hold” rating in a report on Tuesday, November 7th. SunTrust Banks set a $180.00 target price on shares of FleetCor Technologies and gave the company a “buy” rating in a report on Tuesday, October 24th. BidaskClub raised shares of FleetCor Technologies from a “sell” rating to a “hold” rating in a report on Thursday, August 17th. Finally, Credit Suisse Group reaffirmed an “outperform” rating on shares of FleetCor Technologies in a report on Tuesday, September 5th. Two investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $187.31.
Shares of FleetCor Technologies, Inc. (FLT) opened at $184.48 on Thursday. FleetCor Technologies, Inc. has a 1 year low of $121.52 and a 1 year high of $186.04. The stock has a market cap of $16,467.54, a P/E ratio of 24.88, a P/E/G ratio of 1.34 and a beta of 1.53. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.84 and a current ratio of 0.84.
FleetCor Technologies (NYSE:FLT) last announced its quarterly earnings results on Wednesday, November 1st. The business services provider reported $2.18 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.14 by $0.04. The company had revenue of $577.90 million for the quarter, compared to analyst estimates of $576.78 million. FleetCor Technologies had a net margin of 25.66% and a return on equity of 20.99%. FleetCor Technologies’s revenue for the quarter was up 19.3% on a year-over-year basis. During the same quarter last year, the business earned $1.92 EPS. analysts forecast that FleetCor Technologies, Inc. will post 7.75 EPS for the current year.
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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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