DnB Asset Management AS increased its position in shares of FLEETCOR Technologies, Inc. (NYSE:FLT – Get Rating) by 1.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 22,525 shares of the business services provider’s stock after buying an additional 332 shares during the quarter. DnB Asset Management AS’s holdings in FLEETCOR Technologies were worth $4,733,000 at the end of the most recent quarter.
A number of other institutional investors have also added to or reduced their stakes in FLT. Boston Partners grew its position in FLEETCOR Technologies by 32.2% during the first quarter. Boston Partners now owns 2,122,816 shares of the business services provider’s stock worth $528,732,000 after buying an additional 517,046 shares in the last quarter. Capital World Investors grew its position in FLEETCOR Technologies by 9.4% during the fourth quarter. Capital World Investors now owns 3,705,911 shares of the business services provider’s stock worth $829,531,000 after buying an additional 317,514 shares in the last quarter. Wellington Management Group LLP boosted its holdings in FLEETCOR Technologies by 5.0% during the first quarter. Wellington Management Group LLP now owns 4,836,861 shares of the business services provider’s stock valued at $1,204,669,000 after purchasing an additional 228,606 shares in the last quarter. BlackRock Inc. boosted its holdings in FLEETCOR Technologies by 3.5% during the first quarter. BlackRock Inc. now owns 6,118,876 shares of the business services provider’s stock valued at $1,523,967,000 after purchasing an additional 207,098 shares in the last quarter. Finally, Alliancebernstein L.P. boosted its holdings in FLEETCOR Technologies by 22.0% during the fourth quarter. Alliancebernstein L.P. now owns 990,313 shares of the business services provider’s stock valued at $221,672,000 after purchasing an additional 178,633 shares in the last quarter. 91.52% of the stock is owned by institutional investors and hedge funds.
FLEETCOR Technologies Stock Performance
FLT stock opened at $203.00 on Tuesday. The company has a debt-to-equity ratio of 1.77, a current ratio of 1.06 and a quick ratio of 1.06. The company has a 50 day moving average price of $219.62 and a 200 day moving average price of $230.55. FLEETCOR Technologies, Inc. has a fifty-two week low of $198.91 and a fifty-two week high of $282.02. The stock has a market capitalization of $15.23 billion, a PE ratio of 17.44, a price-to-earnings-growth ratio of 0.97 and a beta of 1.21.
Insider Buying and Selling
Wall Street Analysts Forecast Growth
A number of research firms have weighed in on FLT. Mizuho lifted their price objective on FLEETCOR Technologies from $250.00 to $256.00 and gave the company a “neutral” rating in a report on Tuesday, August 9th. Citigroup lifted their price objective on FLEETCOR Technologies from $335.00 to $345.00 and gave the company a “buy” rating in a report on Thursday, June 9th. Wells Fargo & Company decreased their price objective on FLEETCOR Technologies from $298.00 to $274.00 and set an “overweight” rating on the stock in a report on Thursday, September 8th. Truist Financial decreased their price objective on FLEETCOR Technologies from $290.00 to $275.00 and set a “buy” rating on the stock in a report on Thursday, June 30th. Finally, Royal Bank of Canada cut their target price on shares of FLEETCOR Technologies from $300.00 to $265.00 and set a “sector perform” rating for the company in a research note on Thursday, August 4th. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, FLEETCOR Technologies currently has a consensus rating of “Moderate Buy” and an average price target of $282.11.
FLEETCOR Technologies Profile
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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