FLEETCOR Technologies, Inc. (NYSE:FLT) Stock Holdings Lifted by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. lifted its stake in shares of FLEETCOR Technologies, Inc. (NYSE:FLTFree Report) by 1.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 437,619 shares of the business services provider’s stock after acquiring an additional 6,137 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.59% of FLEETCOR Technologies worth $111,742,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of FLT. Virginia Retirement Systems ET AL acquired a new position in shares of FLEETCOR Technologies in the 2nd quarter valued at $4,782,000. Harvest Fund Management Co. Ltd increased its position in shares of FLEETCOR Technologies by 64.6% in the third quarter. Harvest Fund Management Co. Ltd now owns 859 shares of the business services provider’s stock worth $219,000 after acquiring an additional 337 shares in the last quarter. Capital Group Investment Management PTE. LTD. acquired a new stake in shares of FLEETCOR Technologies during the second quarter valued at approximately $217,000. Seaport Global Advisors LLC lifted its position in shares of FLEETCOR Technologies by 46.6% in the 2nd quarter. Seaport Global Advisors LLC now owns 2,537 shares of the business services provider’s stock valued at $637,000 after acquiring an additional 806 shares in the last quarter. Finally, Fifth Third Bancorp boosted its stake in FLEETCOR Technologies by 5.2% in the 3rd quarter. Fifth Third Bancorp now owns 2,308 shares of the business services provider’s stock worth $589,000 after purchasing an additional 114 shares during the period. 94.93% of the stock is currently owned by institutional investors and hedge funds.

FLEETCOR Technologies Stock Up 3.1 %

FLEETCOR Technologies stock opened at $273.40 on Friday. The company has a market capitalization of $19.74 billion, a P/E ratio of 20.71, a P/E/G ratio of 1.25 and a beta of 1.26. FLEETCOR Technologies, Inc. has a 1-year low of $185.04 and a 1-year high of $298.48. The firm’s fifty day simple moving average is $278.89 and its 200-day simple moving average is $261.35. The company has a current ratio of 1.04, a quick ratio of 1.02 and a debt-to-equity ratio of 1.40.

FLEETCOR Technologies (NYSE:FLTGet Free Report) last announced its quarterly earnings results on Wednesday, February 7th. The business services provider reported $4.44 earnings per share for the quarter, missing analysts’ consensus estimates of $4.48 by ($0.04). The company had revenue of $937.32 million during the quarter, compared to analyst estimates of $967.01 million. FLEETCOR Technologies had a return on equity of 37.56% and a net margin of 26.13%. FLEETCOR Technologies’s quarterly revenue was up 6.1% on a year-over-year basis. During the same period in the prior year, the firm earned $3.83 EPS. Sell-side analysts forecast that FLEETCOR Technologies, Inc. will post 18.11 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on FLT shares. JPMorgan Chase & Co. increased their target price on FLEETCOR Technologies from $285.00 to $337.00 and gave the company an “overweight” rating in a report on Thursday. Raymond James increased their price objective on FLEETCOR Technologies from $277.00 to $281.00 and gave the stock an “outperform” rating in a research note on Friday, November 10th. StockNews.com raised FLEETCOR Technologies from a “hold” rating to a “buy” rating in a research note on Friday. UBS Group reissued a “neutral” rating and issued a $280.00 price target on shares of FLEETCOR Technologies in a research report on Friday, October 20th. Finally, William Blair restated an “outperform” rating on shares of FLEETCOR Technologies in a report on Thursday. Five investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, FLEETCOR Technologies presently has a consensus rating of “Moderate Buy” and an average target price of $296.33.

Get Our Latest Research Report on FLT

About FLEETCOR Technologies

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for FLEETCOR Technologies (NYSE:FLT)

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