Sunbelt Securities Inc. Makes New $232,000 Investment in FleetCor Technologies, Inc. (NYSE:FLT)

Sunbelt Securities Inc. bought a new position in shares of FleetCor Technologies, Inc. (NYSE:FLT) in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 826 shares of the business services provider’s stock, valued at approximately $232,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Quantamental Technologies LLC acquired a new stake in shares of FleetCor Technologies in the first quarter valued at approximately $25,000. Bray Capital Advisors bought a new stake in shares of FleetCor Technologies in the second quarter worth $25,000. Advisory Services Network LLC grew its stake in shares of FleetCor Technologies by 94.2% in the second quarter. Advisory Services Network LLC now owns 134 shares of the business services provider’s stock worth $38,000 after purchasing an additional 65 shares during the last quarter. Steward Partners Investment Advisory LLC bought a new stake in shares of FleetCor Technologies in the second quarter worth $56,000. Finally, Ibex Wealth Advisors acquired a new position in FleetCor Technologies in the second quarter valued at $60,000. Hedge funds and other institutional investors own 94.71% of the company’s stock.

FLT traded up $1.48 on Thursday, hitting $287.25. The company’s stock had a trading volume of 6,409 shares, compared to its average volume of 540,024. The stock’s 50 day simple moving average is $287.51. The stock has a market cap of $25.01 billion, a price-to-earnings ratio of 28.91, a P/E/G ratio of 1.66 and a beta of 1.16. FleetCor Technologies, Inc. has a 12 month low of $172.18 and a 12 month high of $297.13. The company has a current ratio of 0.92, a quick ratio of 0.91 and a debt-to-equity ratio of 0.70.

FleetCor Technologies (NYSE:FLT) last released its quarterly earnings data on Tuesday, August 6th. The business services provider reported $2.69 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.64 by $0.05. The company had revenue of $647.09 million during the quarter, compared to the consensus estimate of $633.95 million. FleetCor Technologies had a net margin of 35.29% and a return on equity of 26.37%. FleetCor Technologies’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same period last year, the firm earned $2.57 EPS. Research analysts anticipate that FleetCor Technologies, Inc. will post 11.15 EPS for the current year.

Several equities analysts recently issued reports on the stock. Robert W. Baird assumed coverage on shares of FleetCor Technologies in a report on Wednesday, July 24th. They issued a “neutral” rating and a $302.00 target price on the stock. Goldman Sachs Group upgraded shares of FleetCor Technologies from a “neutral” rating to a “buy” rating and upped their target price for the stock from $243.00 to $305.00 in a report on Wednesday, June 5th. Oppenheimer upped their target price on shares of FleetCor Technologies from $265.00 to $270.00 and gave the stock an “outperform” rating in a report on Wednesday, May 8th. GMP Securities reaffirmed an “average” rating and issued a $4.00 price objective on shares of FleetCor Technologies in a research report on Wednesday, June 5th. Finally, SunTrust Banks upped their price objective on shares of FleetCor Technologies to $320.00 and gave the stock a “buy” rating in a research report on Thursday, June 13th. Eight analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $269.27.

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

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