Envestnet Asset Management Inc. Purchases 52,879 Shares of FLEETCOR Technologies, Inc. (NYSE:FLT)

Envestnet Asset Management Inc. lifted its holdings in FLEETCOR Technologies, Inc. (NYSE:FLT) by 89.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 111,960 shares of the business services provider’s stock after purchasing an additional 52,879 shares during the quarter. Envestnet Asset Management Inc. owned 0.15% of FLEETCOR Technologies worth $14,049,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of FLT. Boston Partners lifted its holdings in shares of FLEETCOR Technologies by 33.7% in the 1st quarter. Boston Partners now owns 3,071,810 shares of the business services provider’s stock valued at $647,947,000 after acquiring an additional 774,730 shares during the last quarter. Norges Bank purchased a new position in shares of FLEETCOR Technologies in the 4th quarter worth approximately $135,367,000. Mizuho Markets Cayman LP bought a new position in shares of FLEETCOR Technologies during the 1st quarter valued at approximately $118,537,000. BloombergSen Inc. purchased a new stake in FLEETCOR Technologies during the 4th quarter valued at $80,825,000. Finally, Junto Capital Management LP bought a new stake in FLEETCOR Technologies in the fourth quarter worth $44,825,000. Institutional investors own 94.93% of the company’s stock.

FLEETCOR Technologies Trading Up 0.4 %

Shares of NYSE FLT opened at $272.86 on Monday. The business has a fifty day moving average price of $256.51 and a 200 day moving average price of $232.30. FLEETCOR Technologies, Inc. has a 1-year low of $161.69 and a 1-year high of $275.66. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.08 and a quick ratio of 1.08. The stock has a market capitalization of $20.18 billion, a P/E ratio of 22.00, a price-to-earnings-growth ratio of 1.37 and a beta of 1.20.

FLEETCOR Technologies (NYSE:FLT) last released its quarterly earnings results on Tuesday, August 8th. The business services provider reported $3.85 earnings per share for the quarter, missing analysts’ consensus estimates of $3.87 by ($0.02). FLEETCOR Technologies had a net margin of 25.61% and a return on equity of 41.53%. The firm had revenue of $948.17 million during the quarter, compared to the consensus estimate of $945.21 million. Equities research analysts expect that FLEETCOR Technologies, Inc. will post 15.83 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently weighed in on FLT. StockNews.com assumed coverage on shares of FLEETCOR Technologies in a research note on Thursday, August 17th. They issued a “buy” rating on the stock. Royal Bank of Canada boosted their target price on FLEETCOR Technologies from $240.00 to $277.00 and gave the company a “sector perform” rating in a research report on Wednesday, August 9th. Jefferies Financial Group increased their price target on FLEETCOR Technologies from $255.00 to $300.00 in a report on Tuesday, July 18th. Barclays lifted their target price on FLEETCOR Technologies from $270.00 to $322.00 and gave the stock an “overweight” rating in a research report on Monday, August 14th. Finally, Robert W. Baird raised their price target on shares of FLEETCOR Technologies from $256.00 to $275.00 in a research note on Wednesday, July 19th. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $277.00.

About FLEETCOR Technologies

FLEETCOR Technologies, Inc, a business payments company that helps businesses spend less by enabling them to manage their expense-related purchasing and vendor payments processes. 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.