Handelsbanken Fonder AB Acquires 704 Shares of FLEETCOR Technologies, Inc. (NYSE:FLT)

Handelsbanken Fonder AB lifted its holdings in FLEETCOR Technologies, Inc. (NYSE:FLTGet Rating) by 3.3% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 22,356 shares of the business services provider’s stock after buying an additional 704 shares during the period. Handelsbanken Fonder AB’s holdings in FLEETCOR Technologies were worth $3,938,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD increased its stake 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 worth $1,161,682,000 after acquiring an additional 775,047 shares during the last quarter. Wellington Management Group LLP boosted its holdings in shares of FLEETCOR Technologies by 5.0% in the 1st quarter. Wellington Management Group LLP now owns 4,836,861 shares of the business services provider’s stock worth $1,204,669,000 after purchasing an additional 228,606 shares during the period. Wedge Capital Management L L P NC bought a new position in shares of FLEETCOR Technologies during the 2nd quarter valued at approximately $39,466,000. Korea Investment CORP raised its holdings in FLEETCOR Technologies by 174.9% during the 2nd quarter. Korea Investment CORP now owns 183,611 shares of the business services provider’s stock valued at $38,579,000 after buying an additional 116,811 shares during the period. Finally, Vanguard Group Inc. lifted its position in FLEETCOR Technologies by 1.3% in the first quarter. Vanguard Group Inc. now owns 8,624,531 shares of the business services provider’s stock worth $2,148,025,000 after buying an additional 111,367 shares during the last quarter. 90.49% of the stock is currently owned by hedge funds and other institutional investors.

FLEETCOR Technologies Price Performance

Shares of FLT stock opened at $190.70 on Tuesday. The stock has a market capitalization of $14.06 billion, a price-to-earnings ratio of 15.72, a P/E/G ratio of 0.70 and a beta of 1.20. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 2.13. FLEETCOR Technologies, Inc. has a twelve month low of $161.69 and a twelve month high of $265.30. The stock has a fifty day simple moving average of $186.23 and a two-hundred day simple moving average of $198.78.

FLEETCOR Technologies (NYSE:FLTGet Rating) last issued its earnings results on Wednesday, November 2nd. The business services provider reported $3.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.86 by $0.05. FLEETCOR Technologies had a net margin of 28.51% and a return on equity of 42.85%. The company had revenue of $893.00 million for the quarter, compared to analysts’ expectations of $877.61 million. During the same period in the prior year, the business earned $3.37 EPS. On average, analysts predict that FLEETCOR Technologies, Inc. will post 14.72 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on FLT. Keefe, Bruyette & Woods reduced their target price on shares of FLEETCOR Technologies from $335.00 to $230.00 in a research note on Monday, October 10th. Wells Fargo & Company decreased their price objective on shares of FLEETCOR Technologies from $240.00 to $225.00 and set an “overweight” rating for the company in a research note on Monday. StockNews.com assumed coverage on FLEETCOR Technologies in a research report on Wednesday, October 12th. They set a “hold” rating for the company. Credit Suisse Group reduced their price target on FLEETCOR Technologies from $245.00 to $220.00 and set a “neutral” rating on the stock in a report on Friday, November 4th. Finally, Truist Financial dropped their price objective on FLEETCOR Technologies from $275.00 to $225.00 and set a “buy” rating for the company in a report on Thursday, October 13th. Seven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $239.00.

FLEETCOR Technologies Profile

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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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