FLEETCOR Technologies, Inc. (NYSE:FLT) Shares Acquired by DNB Asset Management AS

DNB Asset Management AS raised its holdings in FLEETCOR Technologies, Inc. (NYSE:FLTGet Rating) by 2.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 22,193 shares of the business services provider’s stock after acquiring an additional 546 shares during the quarter. DNB Asset Management AS’s holdings in FLEETCOR Technologies were worth $5,527,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. UMB Bank N A MO acquired a new stake in FLEETCOR Technologies in the 4th quarter valued at about $291,000. Fifth Third Bancorp lifted its holdings in FLEETCOR Technologies by 77.3% in the 4th quarter. Fifth Third Bancorp now owns 1,613 shares of the business services provider’s stock valued at $361,000 after acquiring an additional 703 shares during the last quarter. Advisor Group Holdings Inc. lifted its holdings in FLEETCOR Technologies by 44.6% in the 4th quarter. Advisor Group Holdings Inc. now owns 10,229 shares of the business services provider’s stock valued at $2,291,000 after acquiring an additional 3,155 shares during the last quarter. Ensign Peak Advisors Inc lifted its holdings in FLEETCOR Technologies by 355.7% in the 4th quarter. Ensign Peak Advisors Inc now owns 26,633 shares of the business services provider’s stock valued at $5,961,000 after acquiring an additional 20,788 shares during the last quarter. Finally, LPL Financial LLC lifted its holdings in FLEETCOR Technologies by 25.6% in the 3rd quarter. LPL Financial LLC now owns 32,255 shares of the business services provider’s stock valued at $8,427,000 after acquiring an additional 6,570 shares during the last quarter. 97.44% of the stock is owned by institutional investors.

A number of equities research analysts have weighed in on FLT shares. Wells Fargo & Company initiated coverage on shares of FLEETCOR Technologies in a report on Monday, April 4th. They issued an “overweight” rating and a $294.00 price target for the company. Barclays upped their price objective on shares of FLEETCOR Technologies from $306.00 to $312.00 and gave the company an “overweight” rating in a research note on Thursday, April 14th. Citigroup upped their price objective on shares of FLEETCOR Technologies from $335.00 to $345.00 and gave the company a “buy” rating in a research note on Thursday, June 9th. Evercore ISI reaffirmed an “outperform” rating and set a $300.00 price objective on shares of FLEETCOR Technologies in a research note on Thursday, June 2nd. Finally, TheStreet lowered shares of FLEETCOR Technologies from a “b-” rating to a “c” rating in a research note on Thursday, May 26th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $297.78.

Shares of FLT opened at $212.28 on Thursday. The company has a market capitalization of $16.42 billion, a price-to-earnings ratio of 20.05, a P/E/G ratio of 0.93 and a beta of 1.22. FLEETCOR Technologies, Inc. has a fifty-two week low of $200.78 and a fifty-two week high of $282.02. The company has a debt-to-equity ratio of 1.52, a current ratio of 1.01 and a quick ratio of 1.01. The business’s 50-day moving average is $238.75 and its 200-day moving average is $236.30.

FLEETCOR Technologies (NYSE:FLTGet Rating) last issued its earnings results on Thursday, May 5th. The business services provider reported $3.35 earnings per share for the quarter, beating analysts’ consensus estimates of $3.27 by $0.08. The company had revenue of $789.20 million for the quarter, compared to the consensus estimate of $756.56 million. FLEETCOR Technologies had a return on equity of 34.88% and a net margin of 28.97%. The firm’s quarterly revenue was up 29.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.66 EPS. Equities research analysts expect that FLEETCOR Technologies, Inc. will post 14.47 earnings per share for the current fiscal year.

FLEETCOR Technologies Profile (Get Rating)

FLEETCOR Technologies, Inc provides digital payment solutions for businesses to control purchases and make payments. It offers corporate payments solutions, such as accounts payable automation; Virtual Card, which provides a single-use card number for a specific amount usable within a defined timeframe; Cross-Border that is used by its customers to pay international vendors, foreign office and personnel expenses, capital expenditures, and profit repatriation and dividends; and purchasing cards and travel and entertainment cards for its customers to analyze and manage their corporate spending.

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

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