Bank of America Corp DE Buys 94,361 Shares of FLEETCOR Technologies, Inc. (NYSE:FLT)

Bank of America Corp DE grew its holdings in shares of FLEETCOR Technologies, Inc. (NYSE:FLTGet Rating) by 17.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 622,990 shares of the business services provider’s stock after buying an additional 94,361 shares during the period. Bank of America Corp DE’s holdings in FLEETCOR Technologies were worth $155,162,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of FLT. Boston Partners boosted its holdings in shares of FLEETCOR Technologies by 32.2% during the 1st quarter. Boston Partners now owns 2,122,816 shares of the business services provider’s stock valued at $528,732,000 after buying an additional 517,046 shares in the last quarter. Capital World Investors raised its position in shares of FLEETCOR Technologies by 9.4% in the 4th quarter. Capital World Investors now owns 3,705,911 shares of the business services provider’s stock worth $829,531,000 after purchasing an additional 317,514 shares during the last quarter. Wellington Management Group LLP raised its position in shares of FLEETCOR Technologies by 5.0% in the 1st quarter. Wellington Management Group LLP now owns 4,836,861 shares of the business services provider’s stock worth $1,204,669,000 after purchasing an additional 228,606 shares during the last quarter. BlackRock Inc. raised its position in shares of FLEETCOR Technologies by 3.5% in the 1st quarter. BlackRock Inc. now owns 6,118,876 shares of the business services provider’s stock worth $1,523,967,000 after purchasing an additional 207,098 shares during the last quarter. Finally, Alliancebernstein L.P. raised its position in shares of FLEETCOR Technologies by 22.0% in the 4th quarter. Alliancebernstein L.P. now owns 990,313 shares of the business services provider’s stock worth $221,672,000 after purchasing an additional 178,633 shares during the last quarter. Institutional investors own 91.52% of the company’s stock.

Insider Activity

In other news, insider Alan King sold 1,379 shares of the company’s stock in a transaction dated Monday, September 12th. The shares were sold at an average price of $223.38, for a total transaction of $308,041.02. Following the completion of the sale, the insider now owns 9,250 shares of the company’s stock, valued at approximately $2,066,265. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 6.60% of the company’s stock.

Wall Street Analyst Weigh In

FLT has been the subject of several recent analyst reports. Truist Financial lowered their price target on FLEETCOR Technologies from $290.00 to $275.00 and set a “buy” rating for the company in a research report on Thursday, June 30th. Barclays lowered their price target on FLEETCOR Technologies from $295.00 to $290.00 and set an “overweight” rating for the company in a research report on Thursday, September 15th. Wells Fargo & Company lowered their price target on FLEETCOR Technologies from $298.00 to $274.00 and set an “overweight” rating for the company in a research report on Thursday, September 8th. TheStreet lowered FLEETCOR Technologies from a “b-” rating to a “c” rating in a research report on Thursday, May 26th. Finally, Royal Bank of Canada decreased their target price on FLEETCOR Technologies from $300.00 to $265.00 and set a “sector perform” rating for the company in a research report on Thursday, August 4th. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, FLEETCOR Technologies presently has an average rating of “Moderate Buy” and an average target price of $282.11.

FLEETCOR Technologies Price Performance

Shares of NYSE:FLT opened at $189.86 on Friday. FLEETCOR Technologies, Inc. has a fifty-two week low of $188.61 and a fifty-two week high of $282.02. The business has a 50-day simple moving average of $218.59 and a two-hundred day simple moving average of $229.73. 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 firm has a market cap of $14.24 billion, a price-to-earnings ratio of 16.31, a price-to-earnings-growth ratio of 0.96 and a beta of 1.21.

FLEETCOR Technologies Profile

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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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