FLEETCOR Technologies, Inc. (NYSE:FLT) Short Interest Up 40.4% in February

FLEETCOR Technologies, Inc. (NYSE:FLT – Get Rating) saw a large growth in short interest in the month of February. As of February 28th, there was short interest totalling 1,280,000 shares, a growth of 40.4% from the February 13th total of 911,900 shares. Based on an average trading volume of 530,400 shares, the days-to-cover ratio is currently 2.4 days. Approximately 1.9% of the shares of the company are sold short.

FLEETCOR Technologies Stock Down 2.8 %

NYSE:FLT opened at $190.35 on Tuesday. FLEETCOR Technologies has a 12-month low of $161.69 and a 12-month high of $265.30. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 1.86. The firm has a market capitalization of $13.99 billion, a P/E ratio of 15.33, a P/E/G ratio of 1.03 and a beta of 1.20. The stock’s fifty day simple moving average is $203.68 and its 200-day simple moving average is $194.01.

FLEETCOR Technologies (NYSE:FLT – Get Rating) last posted its earnings results on Wednesday, February 8th. The business services provider reported $4.04 earnings per share for the quarter, topping the consensus estimate of $3.93 by $0.11. The firm had revenue of $883.60 million for the quarter, compared to analyst estimates of $874.44 million. FLEETCOR Technologies had a return on equity of 44.21% and a net margin of 27.85%. The company’s revenue for the quarter was up 10.1% on a year-over-year basis. During the same period in the previous year, the company posted $3.47 earnings per share. Equities research analysts expect that FLEETCOR Technologies will post 15.78 earnings per share for the current year.

Institutional Trading of FLEETCOR Technologies

Several hedge funds and other institutional investors have recently modified their holdings of FLT. Price T Rowe Associates Inc. MD raised its stake in shares of FLEETCOR Technologies by 16.3% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 5,528,923 shares of the business services provider’s stock valued at $1,161,682,000 after purchasing an additional 775,047 shares during the period. Norges Bank acquired a new stake in shares of FLEETCOR Technologies in the fourth quarter valued at about $135,367,000. BloombergSen Inc. acquired a new stake in shares of FLEETCOR Technologies in the fourth quarter valued at about $80,825,000. Junto Capital Management LP acquired a new stake in shares of FLEETCOR Technologies in the fourth quarter valued at about $44,825,000. Finally, Sustainable Growth Advisers LP increased its position in shares of FLEETCOR Technologies by 9.9% in the fourth quarter. Sustainable Growth Advisers LP now owns 2,517,359 shares of the business services provider’s stock valued at $462,388,000 after acquiring an additional 226,853 shares during the last quarter. Institutional investors and hedge funds own 90.49% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Mizuho dropped their target price on FLEETCOR Technologies from $256.00 to $220.00 and set a “neutral” rating for the company in a report on Monday, November 14th. Robert W. Baird raised FLEETCOR Technologies from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $235.00 to $254.00 in a report on Friday, February 10th. Truist Financial raised their price target on FLEETCOR Technologies from $225.00 to $245.00 and gave the company a “buy” rating in a report on Friday, January 20th. Wells Fargo & Company raised their price target on FLEETCOR Technologies from $225.00 to $240.00 and gave the company an “overweight” rating in a report on Thursday, February 9th. Finally, Bank of America raised FLEETCOR Technologies from a “neutral” rating to a “buy” rating and raised their price target for the company from $208.00 to $240.00 in a report on Tuesday, January 31st. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $249.50.

About FLEETCOR Technologies

(Get Rating)

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.