FLEETCOR Technologies (NYSE:FLT) Reaches New 12-Month Low at $198.74

FLEETCOR Technologies, Inc. (NYSE:FLTGet Rating) shares reached a new 52-week low on Tuesday . The company traded as low as $198.74 and last traded at $198.75, with a volume of 805 shares changing hands. The stock had previously closed at $203.00.

Wall Street Analyst Weigh In

FLT has been the topic of a number of recent analyst reports. Wells Fargo & Company dropped their price target on shares of FLEETCOR Technologies from $298.00 to $274.00 and set an “overweight” rating on the stock in a research report on Thursday, September 8th. Royal Bank of Canada dropped their price target on shares of FLEETCOR Technologies from $300.00 to $265.00 and set a “sector perform” rating on the stock in a research report on Thursday, August 4th. Truist Financial lowered their price objective on shares of FLEETCOR Technologies from $290.00 to $275.00 and set a “buy” rating on the stock in a research report on Thursday, June 30th. TheStreet lowered shares of FLEETCOR Technologies from a “b-” rating to a “c” rating in a research report on Thursday, May 26th. Finally, Mizuho lifted their price objective on shares of FLEETCOR Technologies from $250.00 to $256.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 9th. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $282.11.

FLEETCOR Technologies Stock Down 1.3 %

The stock has a fifty day moving average price of $218.90 and a 200 day moving average price of $229.93. The company has a debt-to-equity ratio of 1.77, a current ratio of 1.06 and a quick ratio of 1.06. The stock has a market capitalization of $14.72 billion, a P/E ratio of 16.86, a price-to-earnings-growth ratio of 0.98 and a beta of 1.21.

Insider Transactions at FLEETCOR Technologies

In other news, insider Alan King sold 1,379 shares of the firm’s stock in a transaction on Monday, September 12th. The stock was sold at an average price of $223.38, for a total value of $308,041.02. Following the completion of the transaction, the insider now directly owns 9,250 shares of the company’s stock, valued at $2,066,265. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 6.60% of the company’s stock.

Institutional Investors Weigh In On FLEETCOR Technologies

Several large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in FLEETCOR Technologies by 1.3% during the first quarter. Vanguard Group Inc. now owns 8,624,531 shares of the business services provider’s stock valued at $2,148,025,000 after buying an additional 111,367 shares during the period. BlackRock Inc. raised its position in FLEETCOR Technologies by 3.5% during the first quarter. BlackRock Inc. now owns 6,118,876 shares of the business services provider’s stock valued at $1,523,967,000 after purchasing an additional 207,098 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in FLEETCOR Technologies by 16.3% during the second quarter. Price T Rowe Associates Inc. MD now owns 5,528,923 shares of the business services provider’s stock valued at $1,161,682,000 after purchasing an additional 775,047 shares in the last quarter. Wellington Management Group LLP raised its position in FLEETCOR Technologies by 5.0% during the first quarter. Wellington Management Group LLP now owns 4,836,861 shares of the business services provider’s stock valued at $1,204,669,000 after purchasing an additional 228,606 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its position in FLEETCOR Technologies by 2.2% during the first quarter. JPMorgan Chase & Co. now owns 4,116,029 shares of the business services provider’s stock valued at $1,025,138,000 after purchasing an additional 89,065 shares in the last quarter. Institutional investors own 91.52% of the company’s stock.

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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