FLEETCOR Technologies (NYSE:FLT) Reaches New 1-Year Low at $198.74

FLEETCOR Technologies, Inc. (NYSE:FLTGet Rating)’s stock price hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $198.74 and last traded at $198.75, with a volume of 805 shares changing hands. The stock had previously closed at $203.00.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on FLT shares. Royal Bank of Canada reduced their price target on FLEETCOR Technologies from $300.00 to $265.00 and set a “sector perform” rating on the stock in a report on Thursday, August 4th. Citigroup boosted their price target on FLEETCOR Technologies from $335.00 to $345.00 and gave the company a “buy” rating in a report on Thursday, June 9th. Morgan Stanley reduced their price target on FLEETCOR Technologies from $268.00 to $254.00 and set an “equal weight” rating on the stock in a report on Thursday, August 4th. Wells Fargo & Company reduced their price target on FLEETCOR Technologies from $298.00 to $274.00 and set an “overweight” rating on the stock in a report on Thursday, September 8th. Finally, Truist Financial reduced their price target on FLEETCOR Technologies from $290.00 to $275.00 and set a “buy” rating on the stock in a report on Thursday, June 30th. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $282.11.

FLEETCOR Technologies Stock Performance

The company has a debt-to-equity ratio of 1.77, a quick ratio of 1.06 and a current ratio of 1.06. The company has a 50-day simple moving average of $218.90 and a two-hundred day simple moving average of $229.93. The firm has a market capitalization of $14.72 billion, a P/E ratio of 16.86, a PEG ratio of 0.98 and a beta of 1.21.

Insider Buying and Selling at FLEETCOR Technologies

In other news, insider Alan King sold 1,379 shares of the firm’s stock in a transaction on Monday, September 12th. The stock was sold at an average price of $223.38, for a total transaction of $308,041.02. Following the completion of the transaction, 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 Securities & Exchange Commission, which is available through this hyperlink. 6.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On FLEETCOR Technologies

Institutional investors and hedge funds have recently modified their holdings of the stock. CWM LLC increased its holdings in shares of FLEETCOR Technologies by 72.5% during the first quarter. CWM LLC now owns 709 shares of the business services provider’s stock valued at $177,000 after acquiring an additional 298 shares in the last quarter. Mutual of America Capital Management LLC increased its holdings in shares of FLEETCOR Technologies by 1.0% during the first quarter. Mutual of America Capital Management LLC now owns 10,837 shares of the business services provider’s stock valued at $2,699,000 after acquiring an additional 112 shares in the last quarter. Truist Financial Corp increased its holdings in FLEETCOR Technologies by 18.0% in the 1st quarter. Truist Financial Corp now owns 5,674 shares of the business services provider’s stock worth $1,414,000 after buying an additional 867 shares in the last quarter. Martingale Asset Management L P bought a new stake in FLEETCOR Technologies in the 1st quarter worth about $447,000. Finally, Ensign Peak Advisors Inc increased 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 worth $5,961,000 after buying an additional 20,788 shares in the last quarter. 91.52% of the stock is currently owned by institutional investors.

About FLEETCOR Technologies

(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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