Beese Fulmer Investment Management Inc. Grows Position in FLEETCOR Technologies, Inc. (NYSE:FLT)

Beese Fulmer Investment Management Inc. increased its position in shares of FLEETCOR Technologies, Inc. (NYSE:FLT) by 2.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 22,382 shares of the business services provider’s stock after acquiring an additional 484 shares during the quarter. Beese Fulmer Investment Management Inc.’s holdings in FLEETCOR Technologies were worth $5,620,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of FLT. Raymond James Financial Services Advisors Inc. boosted its position in shares of FLEETCOR Technologies by 15.7% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 1,504 shares of the business services provider’s stock valued at $375,000 after acquiring an additional 204 shares during the last quarter. American Century Companies Inc. boosted its position in shares of FLEETCOR Technologies by 15.9% during the 1st quarter. American Century Companies Inc. now owns 2,798 shares of the business services provider’s stock valued at $697,000 after acquiring an additional 384 shares during the last quarter. Cambridge Investment Research Advisors Inc. acquired a new position in shares of FLEETCOR Technologies during the 1st quarter valued at about $219,000. HighTower Advisors LLC boosted its position in shares of FLEETCOR Technologies by 9.5% during the 1st quarter. HighTower Advisors LLC now owns 4,524 shares of the business services provider’s stock valued at $1,119,000 after acquiring an additional 392 shares during the last quarter. Finally, Private Advisor Group LLC boosted its position in shares of FLEETCOR Technologies by 123.0% during the 1st quarter. Private Advisor Group LLC now owns 2,355 shares of the business services provider’s stock valued at $586,000 after acquiring an additional 1,299 shares during the last quarter. Institutional investors and hedge funds own 94.93% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on FLT. Morgan Stanley boosted their price target on shares of FLEETCOR Technologies from $243.00 to $244.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 9th. StockNews.com raised shares of FLEETCOR Technologies from a “hold” rating to a “buy” rating in a research report on Wednesday. Barclays upped their target price on shares of FLEETCOR Technologies from $270.00 to $322.00 and gave the company an “overweight” rating in a research report on Monday, August 14th. Jefferies Financial Group upped their target price on shares of FLEETCOR Technologies from $255.00 to $300.00 in a research report on Tuesday, July 18th. Finally, Bank of America upped their target price on shares of FLEETCOR Technologies from $240.00 to $288.00 in a research report on Friday, July 14th. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $277.67.

FLEETCOR Technologies Stock Down 0.3 %

Shares of FLT stock traded down $0.81 during trading hours on Friday, reaching $272.86. 657,791 shares of the stock were exchanged, compared to its average volume of 527,532. The business’s fifty day moving average is $261.26 and its two-hundred day moving average is $236.46. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.08 and a quick ratio of 1.08. FLEETCOR Technologies, Inc. has a 12-month low of $161.69 and a 12-month high of $275.82. The firm has a market capitalization of $20.19 billion, a P/E ratio of 22.00, a P/E/G ratio of 1.38 and a beta of 1.20.

FLEETCOR Technologies (NYSE:FLT) last announced its quarterly earnings results on Tuesday, August 8th. The business services provider reported $3.85 EPS for the quarter, missing the consensus estimate of $3.87 by ($0.02). The company had revenue of $948.17 million during the quarter, compared to analysts’ expectations of $945.21 million. FLEETCOR Technologies had a net margin of 25.61% and a return on equity of 41.53%. As a group, research analysts expect that FLEETCOR Technologies, Inc. will post 15.83 EPS for the current fiscal year.

FLEETCOR Technologies Profile

FLEETCOR Technologies, Inc, a business payments company that helps businesses spend less by enabling them to manage their expense-related purchasing and vendor payments processes. 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.