BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp reduced its holdings in shares of FleetCor Technologies, Inc. (NYSE:FLT) by 56.0% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 38,986 shares of the business services provider’s stock after selling 49,713 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in FleetCor Technologies were worth $6,034,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Raymond James Financial Services Advisors Inc. boosted its stake in FleetCor Technologies by 207.3% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 6,708 shares of the business services provider’s stock valued at $967,000 after purchasing an additional 4,525 shares during the period. Marshall Wace North America L.P. lifted its position in shares of FleetCor Technologies by 6.0% during the 2nd quarter. Marshall Wace North America L.P. now owns 35,530 shares of the business services provider’s stock valued at $5,116,000 after acquiring an additional 2,015 shares during the period. Sustainable Growth Advisers LP lifted its position in shares of FleetCor Technologies by 21.6% during the 2nd quarter. Sustainable Growth Advisers LP now owns 1,714,987 shares of the business services provider’s stock valued at $247,319,000 after acquiring an additional 304,919 shares during the period. Ameriprise Financial Inc. lifted its position in shares of FleetCor Technologies by 31.2% during the 3rd quarter. Ameriprise Financial Inc. now owns 1,701,521 shares of the business services provider’s stock valued at $263,344,000 after acquiring an additional 404,670 shares during the period. Finally, BB&T Securities LLC lifted its position in shares of FleetCor Technologies by 37.9% during the 2nd quarter. BB&T Securities LLC now owns 7,519 shares of the business services provider’s stock valued at $1,084,000 after acquiring an additional 2,065 shares during the period. Institutional investors own 95.76% of the company’s stock.

FleetCor Technologies, Inc. (FLT) traded up $0.16 during trading on Wednesday, hitting $189.29. The stock had a trading volume of 648,800 shares, compared to its average volume of 1,136,307. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.84 and a quick ratio of 0.84. FleetCor Technologies, Inc. has a 12 month low of $121.52 and a 12 month high of $191.00. The firm has a market cap of $16,938.63, a PE ratio of 25.59, a P/E/G ratio of 1.38 and a beta of 1.53.

FleetCor Technologies (NYSE:FLT) last posted its quarterly earnings results on Wednesday, November 1st. The business services provider reported $2.18 EPS for the quarter, topping analysts’ consensus estimates of $2.14 by $0.04. FleetCor Technologies had a return on equity of 20.99% and a net margin of 25.66%. The company had revenue of $577.90 million during the quarter, compared to analysts’ expectations of $576.78 million. During the same quarter in the previous year, the firm earned $1.92 EPS. FleetCor Technologies’s revenue was up 19.3% on a year-over-year basis. research analysts anticipate that FleetCor Technologies, Inc. will post 7.76 earnings per share for the current year.

In other news, insider Kurt Patrick Adams sold 7,099 shares of the business’s stock in a transaction on Thursday, November 2nd. The stock was sold at an average price of $170.00, for a total transaction of $1,206,830.00. Following the completion of the transaction, the insider now owns 9,246 shares of the company’s stock, valued at approximately $1,571,820. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 4.60% of the stock is currently owned by insiders.

A number of research firms have recently weighed in on FLT. Oppenheimer reiterated an “outperform” rating and set a $185.00 target price on shares of FleetCor Technologies in a research report on Tuesday, September 26th. BidaskClub upgraded FleetCor Technologies from a “sell” rating to a “hold” rating in a research report on Thursday, August 17th. Deutsche Bank upped their target price on FleetCor Technologies from $185.00 to $225.00 and gave the company a “buy” rating in a research report on Tuesday, December 5th. Citigroup upped their target price on FleetCor Technologies from $180.00 to $200.00 and gave the company a “buy” rating in a research report on Thursday, November 2nd. Finally, Morgan Stanley upped their target price on FleetCor Technologies from $189.00 to $194.00 and gave the company an “overweight” rating in a research report on Thursday, November 2nd. Two equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $187.31.

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FleetCor Technologies 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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Institutional Ownership by Quarter for FleetCor Technologies (NYSE:FLT)

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