StockNews.com Initiates Coverage on FLEETCOR Technologies (NYSE:FLT)

Analysts at StockNews.com began coverage on shares of FLEETCOR Technologies (NYSE:FLT) in a research report issued on Friday. The firm set a “buy” rating on the business services provider’s stock.

Several other research firms have also commented on FLT. BMO Capital Markets reduced their target price on shares of FLEETCOR Technologies from $340.00 to $330.00 and set an “outperform” rating on the stock in a report on Wednesday, February 14th. JPMorgan Chase & Co. lifted their price objective on FLEETCOR Technologies from $285.00 to $337.00 and gave the stock an “overweight” rating in a report on Thursday, February 8th. TheStreet raised FLEETCOR Technologies from a “c+” rating to a “b-” rating in a research note on Friday, January 12th. William Blair restated an “outperform” rating on shares of FLEETCOR Technologies in a research report on Thursday, February 8th. Finally, Robert W. Baird upgraded FLEETCOR Technologies from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $325.00 to $330.00 in a research report on Monday, March 4th. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $299.67.

FLEETCOR Technologies Price Performance

The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 1.40. The company’s fifty day moving average price is $287.25 and its 200-day moving average price is $267.25. FLEETCOR Technologies has a 12-month low of $194.60 and a 12-month high of $309.39. The stock has a market capitalization of $21.90 billion, a P/E ratio of 22.97, a price-to-earnings-growth ratio of 1.15 and a beta of 1.22.

FLEETCOR Technologies (NYSE:FLT) last announced its quarterly earnings data on Wednesday, February 7th. The business services provider reported $4.44 earnings per share for the quarter, missing analysts’ consensus estimates of $4.48 by ($0.04). The firm had revenue of $937.32 million for the quarter, compared to analysts’ expectations of $967.01 million. FLEETCOR Technologies had a net margin of 26.13% and a return on equity of 37.56%. The business’s quarterly revenue was up 6.1% on a year-over-year basis. During the same period in the prior year, the business posted $3.83 earnings per share. On average, equities analysts expect that FLEETCOR Technologies will post 18.2 earnings per share for the current fiscal year.

Insider Buying and Selling at FLEETCOR Technologies

In other FLEETCOR Technologies news, CEO Ronald Clarke sold 118,428 shares of FLEETCOR Technologies stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $281.84, for a total transaction of $33,377,747.52. Following the completion of the transaction, the chief executive officer now owns 2,023,491 shares in the company, valued at $570,300,703.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other FLEETCOR Technologies news, CEO Ronald Clarke sold 118,428 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $281.84, for a total transaction of $33,377,747.52. Following the completion of the sale, the chief executive officer now directly owns 2,023,491 shares in the company, valued at approximately $570,300,703.44. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Alissa B. Vickery sold 2,794 shares of FLEETCOR Technologies stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $290.31, for a total transaction of $811,126.14. Following the completion of the transaction, the chief accounting officer now directly owns 1,885 shares of the company’s stock, valued at $547,234.35. The disclosure for this sale can be found here. Insiders own 6.50% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Harvest Fund Management Co. Ltd raised its stake in FLEETCOR Technologies by 64.6% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 859 shares of the business services provider’s stock valued at $219,000 after buying an additional 337 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings in FLEETCOR Technologies by 223.8% in the fourth quarter. Assenagon Asset Management S.A. now owns 19,621 shares of the business services provider’s stock valued at $5,545,000 after acquiring an additional 13,562 shares during the period. QRG Capital Management Inc. purchased a new position in FLEETCOR Technologies in the third quarter worth about $746,000. Fifth Third Bancorp grew its stake in shares of FLEETCOR Technologies by 5.2% during the 3rd quarter. Fifth Third Bancorp now owns 2,308 shares of the business services provider’s stock valued at $589,000 after purchasing an additional 114 shares during the period. Finally, Invesco Ltd. increased its position in shares of FLEETCOR Technologies by 16.7% during the 3rd quarter. Invesco Ltd. now owns 903,513 shares of the business services provider’s stock valued at $230,703,000 after purchasing an additional 129,552 shares during the last quarter. 98.84% of the stock is owned by institutional investors.

FLEETCOR Technologies Company Profile

FLEETCOR Technologies, Inc operates as a payments company that helps businesses and consumers manage vehicle-related expenses, lodging expenses, and corporate payments in the United States, Brazil, the United Kingdom, and internationally. It operates through Vehicle Payments, Corporate Payments, Lodging Payments, and Other segments.