State of Alaska Department of Revenue Has $4.98 Million Holdings in FLEETCOR Technologies, Inc. (NYSE:FLT)

State of Alaska Department of Revenue boosted its holdings in shares of FLEETCOR Technologies, Inc. (NYSE:FLTGet Rating) by 23.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 23,704 shares of the business services provider’s stock after buying an additional 4,524 shares during the quarter. State of Alaska Department of Revenue’s holdings in FLEETCOR Technologies were worth $4,979,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of FLT. Raymond James Financial Services Advisors Inc. increased its position in FLEETCOR Technologies by 6.7% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 1,300 shares of the business services provider’s stock worth $291,000 after buying an additional 82 shares during the last quarter. Private Advisor Group LLC increased its position in FLEETCOR Technologies by 5.3% during the fourth quarter. Private Advisor Group LLC now owns 1,056 shares of the business services provider’s stock worth $236,000 after buying an additional 53 shares during the last quarter. MAI Capital Management acquired a new position in FLEETCOR Technologies during the fourth quarter worth approximately $207,000. Ensign Peak Advisors Inc increased its position in FLEETCOR Technologies by 355.7% during the fourth quarter. Ensign Peak Advisors Inc now owns 26,633 shares of the business services provider’s stock worth $5,961,000 after buying an additional 20,788 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in FLEETCOR Technologies by 1.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 414,413 shares of the business services provider’s stock worth $92,763,000 after buying an additional 7,579 shares during the last quarter. Institutional investors and hedge funds own 91.52% of the company’s stock.

FLEETCOR Technologies Trading Down 2.1 %

Shares of FLT stock opened at $198.74 on Wednesday. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 1.77. The stock has a market cap of $14.91 billion, a P/E ratio of 17.07, a price-to-earnings-growth ratio of 0.97 and a beta of 1.21. The stock has a 50 day simple moving average of $219.38 and a 200 day simple moving average of $230.39. FLEETCOR Technologies, Inc. has a 1 year low of $196.51 and a 1 year high of $282.02.

Insider Activity at FLEETCOR Technologies

In related news, insider Alan King sold 1,379 shares of the business’s stock in a transaction that occurred on Monday, September 12th. The stock was sold at an average price of $223.38, for a total value of $308,041.02. Following the completion of the sale, the insider now directly owns 9,250 shares in the company, valued at $2,066,265. The sale was disclosed in a filing with the SEC, which is available at this link. 6.60% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on FLT. Wells Fargo & Company reduced their price objective on FLEETCOR Technologies from $298.00 to $274.00 and set an “overweight” rating for the company in a report on Thursday, September 8th. Evercore ISI restated an “outperform” rating and set a $300.00 price objective on shares of FLEETCOR Technologies in a report on Thursday, June 2nd. Truist Financial reduced their price objective on FLEETCOR Technologies from $290.00 to $275.00 and set a “buy” rating for the company in a report on Thursday, June 30th. Barclays reduced their price objective on FLEETCOR Technologies from $295.00 to $290.00 and set an “overweight” rating for the company in a report on Thursday, September 15th. Finally, Citigroup boosted their price objective on FLEETCOR Technologies from $335.00 to $345.00 and gave the stock a “buy” rating in a report on Thursday, June 9th. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $282.11.

About FLEETCOR Technologies

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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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