TD Asset Management Inc. lifted its position in shares of FleetCor Technologies, Inc. (NYSE:FLT) by 13.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 119,844 shares of the business services provider’s stock after acquiring an additional 14,500 shares during the period. TD Asset Management Inc.’s holdings in FleetCor Technologies were worth $29,552,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Capital Investment Advisory Services LLC bought a new stake in shares of FleetCor Technologies during the fourth quarter valued at approximately $25,000. Quantamental Technologies LLC bought a new stake in FleetCor Technologies in the 1st quarter worth approximately $25,000. Lindbrook Capital LLC bought a new stake in FleetCor Technologies in the 4th quarter worth approximately $28,000. Bronfman E.L. Rothschild L.P. grew its position in FleetCor Technologies by 254.3% in the 4th quarter. Bronfman E.L. Rothschild L.P. now owns 163 shares of the business services provider’s stock worth $30,000 after purchasing an additional 117 shares during the period. Finally, Executive Wealth Management LLC bought a new stake in FleetCor Technologies in the 4th quarter worth approximately $33,000. 91.97% of the stock is owned by institutional investors.
A number of equities research analysts have commented on FLT shares. Zacks Investment Research downgraded shares of FleetCor Technologies from a “hold” rating to a “sell” rating in a research report on Wednesday, February 20th. Jefferies Financial Group started coverage on shares of FleetCor Technologies in a research report on Monday, January 28th. They issued a “hold” rating and a $210.00 target price for the company. SunTrust Banks lifted their target price on shares of FleetCor Technologies from $240.00 to $260.00 and gave the stock a “buy” rating in a research report on Tuesday, February 19th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $238.00 target price on shares of FleetCor Technologies in a research report on Wednesday, February 20th. Finally, Citigroup lifted their target price on shares of FleetCor Technologies from $235.00 to $280.00 and gave the stock a “buy” rating in a research report on Tuesday, March 19th. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $255.33.
FleetCor Technologies (NYSE:FLT) last issued its quarterly earnings results on Tuesday, May 7th. The business services provider reported $2.56 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.46 by $0.10. The business had revenue of $621.80 million for the quarter, compared to analysts’ expectations of $608.40 million. FleetCor Technologies had a net margin of 32.74% and a return on equity of 26.56%. The company’s revenue was up 6.2% compared to the same quarter last year. During the same quarter last year, the company posted $2.50 EPS. As a group, research analysts anticipate that FleetCor Technologies, Inc. will post 11.11 EPS for the current year.
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FleetCor Technologies Profile
FleetCor Technologies, Inc provides commercial payment solutions in North America, Latin America, Europe, and Australasia. The company offers fuel payment solutions to businesses and government entities that operate vehicle fleets, as well as to oil and leasing companies, and fuel marketers. Its fuel payment products are in the form of plastic cards, electronic RFID tags, and paper vouchers to purchase fuel, oil, vehicle maintenance supplies and services, and building supplies.
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