FLEETCOR Technologies, Inc. (NYSE:FLT) Shares Sold by MQS Management LLC

MQS Management LLC decreased its position in shares of FLEETCOR Technologies, Inc. (NYSE:FLT – Get Rating) by 22.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,168 shares of the business services provider’s stock after selling 342 shares during the quarter. MQS Management LLC’s holdings in FLEETCOR Technologies were worth $206,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Covestor Ltd raised its stake in shares of FLEETCOR Technologies by 253.1% during the first quarter. Covestor Ltd now owns 113 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 81 shares in the last quarter. Fred Alger Management LLC raised its stake in shares of FLEETCOR Technologies by 102.4% during the third quarter. Fred Alger Management LLC now owns 170 shares of the business services provider’s stock valued at $30,000 after purchasing an additional 86 shares in the last quarter. Lazard Asset Management LLC bought a new stake in shares of FLEETCOR Technologies during the first quarter valued at about $35,000. Oakworth Capital Inc. raised its stake in shares of FLEETCOR Technologies by 952.4% during the third quarter. Oakworth Capital Inc. now owns 221 shares of the business services provider’s stock valued at $39,000 after purchasing an additional 200 shares in the last quarter. Finally, Neo Ivy Capital Management bought a new stake in shares of FLEETCOR Technologies during the third quarter valued at about $47,000. Institutional investors and hedge funds own 90.49% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on FLT shares. Barclays lifted their price objective on shares of FLEETCOR Technologies from $235.00 to $245.00 and gave the company an “overweight” rating in a research note on Monday, February 13th. Bank of America upgraded shares of FLEETCOR Technologies from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $208.00 to $240.00 in a research report on Tuesday, January 31st. Royal Bank of Canada boosted their price target on shares of FLEETCOR Technologies from $226.00 to $240.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 9th. Robert W. Baird upgraded shares of FLEETCOR Technologies from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $235.00 to $254.00 in a research report on Friday, February 10th. Finally, Credit Suisse Group boosted their price target on shares of FLEETCOR Technologies from $220.00 to $230.00 and gave the stock a “neutral” rating in a research report on Friday, February 10th. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, FLEETCOR Technologies has an average rating of “Moderate Buy” and a consensus price target of $249.50.

FLEETCOR Technologies Trading Down 2.5 %

NYSE:FLT opened at $187.20 on Friday. The company has a debt-to-equity ratio of 1.86, a current ratio of 1.01 and a quick ratio of 1.01. FLEETCOR Technologies, Inc. has a fifty-two week low of $161.69 and a fifty-two week high of $265.30. The stock’s 50-day moving average is $204.22 and its two-hundred day moving average is $193.56. The stock has a market cap of $13.76 billion, a PE ratio of 15.07, a price-to-earnings-growth ratio of 1.02 and a beta of 1.20.

FLEETCOR Technologies (NYSE:FLT – Get Rating) last released its earnings results on Wednesday, February 8th. The business services provider reported $4.04 earnings per share for the quarter, beating the consensus estimate of $3.93 by $0.11. FLEETCOR Technologies had a return on equity of 44.21% and a net margin of 27.85%. The company had revenue of $883.60 million for the quarter, compared to analysts’ expectations of $874.44 million. During the same quarter in the previous year, the business posted $3.47 EPS. The business’s revenue for the quarter was up 10.1% on a year-over-year basis. As a group, equities research analysts forecast that FLEETCOR Technologies, Inc. will post 15.78 earnings per share for the current fiscal year.

FLEETCOR Technologies Profile

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FLEETCOR Technologies, Inc engages in the provision of digital payment solutions that enables businesses to control purchases and make payments. It operates through the following geographical segments: North America, International, and Brazil. The company was founded by William Boatner Reily III and Ronald F.