FLEETCOR Technologies, Inc. (NYSE:FLT) Shares Sold by Logan Capital Management Inc.

Logan Capital Management Inc. cut its stake in shares of FLEETCOR Technologies, Inc. (NYSE:FLTGet Rating) by 1.8% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 12,044 shares of the business services provider’s stock after selling 220 shares during the period. Logan Capital Management Inc.’s holdings in FLEETCOR Technologies were worth $2,999,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in FLT. American Century Companies Inc. raised its position in FLEETCOR Technologies by 20.4% during the fourth quarter. American Century Companies Inc. now owns 2,414 shares of the business services provider’s stock worth $540,000 after acquiring an additional 409 shares during the period. Raymond James Financial Services Advisors Inc. raised its position in FLEETCOR Technologies by 6.7% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 1,300 shares of the business services provider’s stock worth $291,000 after acquiring an additional 82 shares during the period. First Republic Investment Management Inc. raised its position in FLEETCOR Technologies by 34.8% during the fourth quarter. First Republic Investment Management Inc. now owns 1,050 shares of the business services provider’s stock worth $235,000 after acquiring an additional 271 shares during the period. BNP Paribas Arbitrage SA raised its position in FLEETCOR Technologies by 191.2% during the fourth quarter. BNP Paribas Arbitrage SA now owns 24,993 shares of the business services provider’s stock worth $5,594,000 after acquiring an additional 16,411 shares during the period. Finally, Principal Financial Group Inc. raised its position in FLEETCOR Technologies by 10.7% during the fourth quarter. Principal Financial Group Inc. now owns 114,896 shares of the business services provider’s stock worth $25,718,000 after acquiring an additional 11,064 shares during the period. 91.52% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on FLT shares. TheStreet cut shares of FLEETCOR Technologies from a “b-” rating to a “c” rating in a research report on Thursday, May 26th. Barclays increased their target price on shares of FLEETCOR Technologies from $286.00 to $295.00 and gave the company an “overweight” rating in a research report on Monday, August 8th. Citigroup increased their target price on shares of FLEETCOR Technologies from $335.00 to $345.00 and gave the company a “buy” rating in a research report on Thursday, June 9th. Wells Fargo & Company reduced their target price on shares of FLEETCOR Technologies from $298.00 to $274.00 and set an “overweight” rating for the company in a research report on Thursday. Finally, Evercore ISI reiterated an “outperform” rating and issued a $300.00 target price on shares of FLEETCOR Technologies in a research report on Thursday, June 2nd. Five analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, FLEETCOR Technologies has an average rating of “Moderate Buy” and an average target price of $282.67.

FLEETCOR Technologies Price Performance

FLEETCOR Technologies stock opened at $220.46 on Friday. FLEETCOR Technologies, Inc. has a 12-month low of $200.78 and a 12-month high of $282.02. The stock has a market cap of $16.54 billion, a P/E ratio of 18.94, a PEG ratio of 1.03 and a beta of 1.21. The company has a 50-day moving average price of $220.13 and a 200 day moving average price of $231.39. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 1.77.

About FLEETCOR Technologies

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FLEETCOR Technologies, Inc provides digital payment solutions for businesses to control purchases and make payments. 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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