State Board of Administration of Florida Retirement System Raises Position in FLEETCOR Technologies, Inc. (NYSE:FLT)

State Board of Administration of Florida Retirement System lifted its stake in FLEETCOR Technologies, Inc. (NYSE:FLTFree Report) by 5.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 81,540 shares of the business services provider’s stock after purchasing an additional 4,332 shares during the quarter. State Board of Administration of Florida Retirement System owned 0.11% of FLEETCOR Technologies worth $20,820,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Covestor Ltd boosted its stake in FLEETCOR Technologies by 253.1% during the 1st quarter. Covestor Ltd now owns 113 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 81 shares during the last quarter. Sunbelt Securities Inc. purchased a new stake in shares of FLEETCOR Technologies during the first quarter valued at $28,000. Fred Alger Management LLC increased its holdings in FLEETCOR Technologies by 102.4% in the 3rd quarter. Fred Alger Management LLC now owns 170 shares of the business services provider’s stock worth $30,000 after buying an additional 86 shares in the last quarter. Clear Street Markets LLC raised its position in FLEETCOR Technologies by 93.3% in the 1st quarter. Clear Street Markets LLC now owns 145 shares of the business services provider’s stock worth $31,000 after buying an additional 70 shares during the last quarter. Finally, Itau Unibanco Holding S.A. bought a new position in FLEETCOR Technologies during the 2nd quarter valued at about $33,000. 94.93% of the stock is owned by hedge funds and other institutional investors.

FLEETCOR Technologies Stock Performance

FLT opened at $273.40 on Friday. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.02 and a current ratio of 1.04. The stock has a market capitalization of $19.74 billion, a price-to-earnings ratio of 20.71, a PEG ratio of 1.25 and a beta of 1.26. The company has a fifty day moving average of $278.89 and a 200 day moving average of $261.35. FLEETCOR Technologies, Inc. has a fifty-two week low of $185.04 and a fifty-two week high of $298.48.

FLEETCOR Technologies (NYSE:FLTGet Free Report) last issued its quarterly earnings data 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). FLEETCOR Technologies had a net margin of 26.13% and a return on equity of 37.56%. The firm had revenue of $937.32 million for the quarter, compared to analysts’ expectations of $967.01 million. During the same quarter in the previous year, the business earned $3.83 EPS. The company’s revenue for the quarter was up 6.1% on a year-over-year basis. As a group, 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

FLT has been the subject of a number of research analyst reports. StockNews.com raised shares of FLEETCOR Technologies from a “hold” rating to a “buy” rating in a research report on Friday. William Blair reiterated an “outperform” rating on shares of FLEETCOR Technologies in a research report on Thursday. BMO Capital Markets began coverage on FLEETCOR Technologies in a research report on Tuesday, December 5th. They issued an “outperform” rating and a $300.00 target price on the stock. Raymond James upped their price target on shares of FLEETCOR Technologies from $277.00 to $281.00 and gave the company an “outperform” rating in a research report on Friday, November 10th. Finally, UBS Group reissued a “neutral” rating and issued a $280.00 price objective on shares of FLEETCOR Technologies in a report on Friday, October 20th. Five research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $296.33.

Check Out Our Latest Stock Report on FLEETCOR Technologies

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.

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

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