Allspring Global Investments Holdings LLC lifted its stake in FLEETCOR Technologies, Inc. (NYSE:FLT – Get Rating) by 23.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,050 shares of the business services provider’s stock after acquiring an additional 2,084 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in FLEETCOR Technologies were worth $1,945,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Covestor Ltd increased its position in FLEETCOR Technologies by 253.1% in the 1st quarter. Covestor Ltd now owns 113 shares of the business services provider’s stock worth $28,000 after purchasing an additional 81 shares during the last quarter. Deseret Mutual Benefit Administrators acquired a new position in FLEETCOR Technologies in the second quarter worth approximately $26,000. Lazard Asset Management LLC bought a new position in FLEETCOR Technologies during the first quarter valued at approximately $35,000. Clear Street Markets LLC lifted its stake in FLEETCOR Technologies by 393.9% in the second quarter. Clear Street Markets LLC now owns 163 shares of the business services provider’s stock valued at $34,000 after acquiring an additional 130 shares during the last quarter. Finally, Bartlett & Co. LLC grew its position in FLEETCOR Technologies by 375.7% in the second quarter. Bartlett & Co. LLC now owns 176 shares of the business services provider’s stock worth $37,000 after acquiring an additional 139 shares in the last quarter. 90.49% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
FLT has been the topic of a number of recent research reports. Wells Fargo & Company cut their price target on shares of FLEETCOR Technologies from $240.00 to $225.00 and set an “overweight” rating on the stock in a report on Monday, January 9th. Bank of America downgraded FLEETCOR Technologies from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $278.00 to $203.00 in a research note on Thursday, October 20th. Royal Bank of Canada cut their price objective on FLEETCOR Technologies from $265.00 to $226.00 and set a “sector perform” rating on the stock in a research note on Thursday, November 3rd. Truist Financial decreased their target price on FLEETCOR Technologies from $275.00 to $225.00 and set a “buy” rating for the company in a research report on Thursday, October 13th. Finally, Morgan Stanley dropped their price target on shares of FLEETCOR Technologies from $196.00 to $188.00 and set an “equal weight” rating on the stock in a research report on Thursday, November 3rd. Seven investment 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, the stock presently has a consensus rating of “Hold” and a consensus target price of $239.00.
FLEETCOR Technologies Price Performance
FLEETCOR Technologies (NYSE:FLT – Get Rating) last released its earnings results on Wednesday, November 2nd. The business services provider reported $3.91 earnings per share for the quarter, beating the consensus estimate of $3.86 by $0.05. FLEETCOR Technologies had a net margin of 28.51% and a return on equity of 42.85%. The business had revenue of $893.00 million during the quarter, compared to analysts’ expectations of $877.61 million. During the same quarter last year, the company earned $3.37 earnings per share. Analysts expect that FLEETCOR Technologies, Inc. will post 14.72 EPS for the current year.
FLEETCOR Technologies Profile
FLEETCOR Technologies, Inc engages in the provision of digital payment solutions that enables businesses to control purchases and make payments. It operates through the following geographical segments: North America, International, and Brazil. The company was founded by William Boatner Reily III and Ronald F.
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