Bank of Nova Scotia Sells 8,504 Shares of FLEETCOR Technologies, Inc. (NYSE:FLT)

Bank of Nova Scotia lessened its holdings in FLEETCOR Technologies, Inc. (NYSE:FLTGet Rating) by 44.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,469 shares of the business services provider’s stock after selling 8,504 shares during the quarter. Bank of Nova Scotia’s holdings in FLEETCOR Technologies were worth $2,201,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the business. Marshall Financial Group LLC raised its holdings in FLEETCOR Technologies by 1.3% during the 1st quarter. Marshall Financial Group LLC now owns 4,133 shares of the business services provider’s stock worth $1,029,000 after purchasing an additional 52 shares during the last quarter. Cetera Investment Advisers raised its holdings in FLEETCOR Technologies by 3.1% during the 1st quarter. Cetera Investment Advisers now owns 1,832 shares of the business services provider’s stock worth $456,000 after purchasing an additional 55 shares during the last quarter. Fulton Bank N.A. raised its holdings in FLEETCOR Technologies by 4.5% during the 2nd quarter. Fulton Bank N.A. now owns 1,312 shares of the business services provider’s stock worth $275,000 after purchasing an additional 57 shares during the last quarter. Kestra Private Wealth Services LLC raised its holdings in FLEETCOR Technologies by 4.0% during the 1st quarter. Kestra Private Wealth Services LLC now owns 1,579 shares of the business services provider’s stock worth $393,000 after purchasing an additional 61 shares during the last quarter. Finally, First Horizon Advisors Inc. raised its holdings in FLEETCOR Technologies by 3.4% during the 2nd quarter. First Horizon Advisors Inc. now owns 1,962 shares of the business services provider’s stock worth $412,000 after purchasing an additional 65 shares during the last quarter. Institutional investors own 91.52% of the company’s stock.

FLEETCOR Technologies Stock Performance

NYSE FLT opened at $192.24 on Thursday. The company has a fifty day simple moving average of $185.89 and a 200 day simple moving average of $211.40. FLEETCOR Technologies, Inc. has a 12-month low of $161.69 and a 12-month high of $265.30. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 2.13. The company has a market cap of $14.18 billion, a P/E ratio of 15.85, a PEG ratio of 0.83 and a beta of 1.22.

Analyst Upgrades and Downgrades

Several research firms have issued reports on FLT. Morgan Stanley lowered their price target on shares of FLEETCOR Technologies from $196.00 to $188.00 and set an “equal weight” rating for the company in a report on Thursday, November 3rd. Robert W. Baird lowered their price target on shares of FLEETCOR Technologies from $250.00 to $220.00 and set a “neutral” rating for the company in a report on Monday, September 26th. Credit Suisse Group reduced their price objective on shares of FLEETCOR Technologies from $245.00 to $220.00 and set a “neutral” rating for the company in a research report on Friday, November 4th. Truist Financial reduced their price objective on shares of FLEETCOR Technologies from $275.00 to $225.00 and set a “buy” rating for the company in a research report on Thursday, October 13th. Finally, Barclays reduced their price objective on shares of FLEETCOR Technologies from $290.00 to $266.00 and set an “overweight” rating for the company in a research report on Sunday, November 6th. Seven investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, FLEETCOR Technologies has a consensus rating of “Hold” and a consensus price target of $243.08.

Insider Activity at FLEETCOR Technologies

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

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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