Birch Capital Management LLC Has $1.34 Million Stake in FLEETCOR Technologies, Inc. (NYSE:FLT)

Birch Capital Management LLC grew its position in FLEETCOR Technologies, Inc. (NYSE:FLT) by 60.2% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,340 shares of the business services provider’s stock after buying an additional 2,006 shares during the quarter. Birch Capital Management LLC’s holdings in FLEETCOR Technologies were worth $1,341,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in FLT. Raymond James Financial Services Advisors Inc. boosted its holdings in shares of FLEETCOR Technologies by 15.7% in 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 purchasing an additional 204 shares in the last quarter. American Century Companies Inc. grew its holdings 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 purchasing an additional 384 shares during the last quarter. Cambridge Investment Research Advisors Inc. bought a new stake in shares of FLEETCOR Technologies during the 1st quarter valued at approximately $219,000. HighTower Advisors LLC increased its position in FLEETCOR Technologies by 9.5% during the 1st quarter. HighTower Advisors LLC now owns 4,524 shares of the business services provider’s stock worth $1,119,000 after purchasing an additional 392 shares in the last quarter. Finally, Private Advisor Group LLC lifted its stake in FLEETCOR Technologies by 123.0% in the 1st quarter. Private Advisor Group LLC now owns 2,355 shares of the business services provider’s stock valued at $586,000 after purchasing an additional 1,299 shares during the last quarter. Institutional investors own 94.93% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on FLT. Jefferies Financial Group boosted their target price on shares of FLEETCOR Technologies from $255.00 to $300.00 in a research note on Tuesday, July 18th. Mizuho upped their target price on FLEETCOR Technologies from $230.00 to $245.00 in a report on Wednesday, August 9th. Raymond James lifted their price target on FLEETCOR Technologies from $246.00 to $283.00 and gave the company an “outperform” rating in a research note on Thursday, August 10th. StockNews.com raised FLEETCOR Technologies from a “hold” rating to a “buy” rating in a research note on Wednesday, September 13th. Finally, Morgan Stanley raised their price objective on shares of FLEETCOR Technologies from $243.00 to $244.00 and gave the company an “equal weight” rating in a report on Wednesday, August 9th. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $277.67.

FLEETCOR Technologies Trading Up 0.8 %

NYSE:FLT opened at $275.12 on Tuesday. FLEETCOR Technologies, Inc. has a 52 week low of $161.69 and a 52 week high of $275.82. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.08 and a current ratio of 1.08. The firm’s fifty day moving average is $261.26 and its 200-day moving average is $236.62. The firm has a market cap of $20.36 billion, a P/E ratio of 22.19, a P/E/G ratio of 1.38 and a beta of 1.20.

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

About FLEETCOR Technologies

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.