Vident Investment Advisory LLC lifted its position in shares of FLEETCOR Technologies, Inc. (NYSE:FLT) by 18.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,911 shares of the business services provider’s stock after acquiring an additional 1,394 shares during the period. Vident Investment Advisory LLC’s holdings in FLEETCOR Technologies were worth $2,431,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently modified their holdings of the company. Nissay Asset Management Corp Japan ADV lifted its holdings in shares of FLEETCOR Technologies by 0.5% during the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 8,659 shares of the business services provider’s stock worth $2,362,000 after acquiring an additional 42 shares during the period. Dupont Capital Management Corp lifted its holdings in shares of FLEETCOR Technologies by 1.4% during the 4th quarter. Dupont Capital Management Corp now owns 3,155 shares of the business services provider’s stock worth $861,000 after acquiring an additional 43 shares during the period. IFP Advisors Inc lifted its holdings in shares of FLEETCOR Technologies by 25.0% during the 4th quarter. IFP Advisors Inc now owns 215 shares of the business services provider’s stock worth $60,000 after acquiring an additional 43 shares during the period. Seeyond lifted its holdings in shares of FLEETCOR Technologies by 2.0% during the 3rd quarter. Seeyond now owns 2,466 shares of the business services provider’s stock worth $587,000 after acquiring an additional 48 shares during the period. Finally, Xponance Inc. lifted its holdings in shares of FLEETCOR Technologies by 0.5% during the 3rd quarter. Xponance Inc. now owns 11,985 shares of the business services provider’s stock worth $2,854,000 after acquiring an additional 57 shares during the period. 94.30% of the stock is owned by institutional investors.

Shares of NYSE FLT opened at $283.65 on Tuesday. FLEETCOR Technologies, Inc. has a 52-week low of $168.51 and a 52-week high of $303.31. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.95 and a current ratio of 0.95. The firm has a 50 day moving average price of $264.23 and a two-hundred day moving average price of $254.38. The stock has a market cap of $23.66 billion, a P/E ratio of 34.22, a price-to-earnings-growth ratio of 2.49 and a beta of 1.50.

FLEETCOR Technologies (NYSE:FLT) last posted its quarterly earnings data on Thursday, February 4th. The business services provider reported $3.01 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.81 by $0.20. FLEETCOR Technologies had a net margin of 29.55% and a return on equity of 30.65%. During the same quarter in the previous year, the firm earned $3.17 earnings per share. Analysts predict that FLEETCOR Technologies, Inc. will post 10.46 earnings per share for the current fiscal year.

FLEETCOR Technologies announced that its board has authorized a stock buyback program on Thursday, November 5th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the business services provider to repurchase up to 4.6% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.

A number of analysts have recently weighed in on FLT shares. Barclays upped their price target on shares of FLEETCOR Technologies from $292.00 to $310.00 and gave the stock an “overweight” rating in a report on Monday, February 8th. Susquehanna upped their price objective on shares of FLEETCOR Technologies from $285.00 to $305.00 and gave the stock a “positive” rating in a research report on Friday, February 5th. Susquehanna Bancshares upped their price objective on shares of FLEETCOR Technologies from $285.00 to $305.00 and gave the stock a “positive” rating in a research report on Friday, February 5th. Bank of America upgraded shares of FLEETCOR Technologies from a “neutral” rating to a “buy” rating in a research report on Wednesday, January 6th. Finally, Morgan Stanley lowered their price objective on shares of FLEETCOR Technologies from $275.00 to $267.00 and set an “equal weight” rating for the company in a research report on Friday, November 6th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. FLEETCOR Technologies presently has a consensus rating of “Buy” and an average price target of $282.89.

About FLEETCOR Technologies

FLEETCOR Technologies, Inc operates as a business payments company that simplifies the way businesses manage and pay expenses. The company's portfolio of brands help companies automate, secure, digitize, and control payments on behalf of employees and suppliers. It offers payment solutions in five primary categories, including fuel, lodging, tolls, corporate payments, and gift.

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

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