Millennium Management LLC trimmed its stake in FleetCor Technologies, Inc. (NYSE:FLT) by 22.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 604,144 shares of the business services provider’s stock after selling 172,773 shares during the quarter. Millennium Management LLC’s holdings in FleetCor Technologies were worth $116,255,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently added to or reduced their stakes in FLT. Crossmark Global Holdings Inc. purchased a new stake in FleetCor Technologies in the third quarter valued at approximately $380,000. Canada Pension Plan Investment Board grew its holdings in FleetCor Technologies by 1,777.9% in the third quarter. Canada Pension Plan Investment Board now owns 25,013 shares of the business services provider’s stock valued at $3,871,000 after purchasing an additional 23,681 shares during the period. FDx Advisors Inc. grew its holdings in FleetCor Technologies by 5.9% in the third quarter. FDx Advisors Inc. now owns 8,568 shares of the business services provider’s stock valued at $1,326,000 after purchasing an additional 480 shares during the period. New York State Common Retirement Fund grew its holdings in FleetCor Technologies by 2.1% in the third quarter. New York State Common Retirement Fund now owns 206,500 shares of the business services provider’s stock valued at $31,960,000 after purchasing an additional 4,300 shares during the period. Finally, Toronto Dominion Bank grew its holdings in FleetCor Technologies by 245.4% in the third quarter. Toronto Dominion Bank now owns 3,896 shares of the business services provider’s stock valued at $603,000 after purchasing an additional 2,768 shares during the period. Hedge funds and other institutional investors own 94.36% of the company’s stock.
FLT has been the subject of several research reports. Zacks Investment Research upgraded shares of FleetCor Technologies from a “hold” rating to a “buy” rating and set a $228.00 price objective for the company in a research note on Thursday, February 8th. SunTrust Banks set a $240.00 price objective on shares of FleetCor Technologies and gave the stock a “buy” rating in a research note on Monday, February 5th. Deutsche Bank boosted their price objective on shares of FleetCor Technologies from $185.00 to $225.00 and gave the stock a “buy” rating in a research note on Tuesday, December 5th. Wells Fargo & Co set a $225.00 price objective on shares of FleetCor Technologies and gave the stock a “buy” rating in a research note on Wednesday, January 10th. Finally, Keefe, Bruyette & Woods reiterated a “buy” rating and set a $236.00 price objective on shares of FleetCor Technologies in a research note on Thursday, February 8th. Three analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. FleetCor Technologies currently has an average rating of “Buy” and an average price target of $209.43.
FleetCor Technologies, Inc. (NYSE FLT) opened at $207.90 on Thursday. The firm has a market cap of $18,662.28, a price-to-earnings ratio of 26.22, a PEG ratio of 1.31 and a beta of 1.52. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.79. FleetCor Technologies, Inc. has a 52 week low of $121.52 and a 52 week high of $213.74.
FleetCor Technologies (NYSE:FLT) last announced its earnings results on Thursday, February 8th. The business services provider reported $2.42 earnings per share for the quarter, beating the consensus estimate of $2.33 by $0.09. The business had revenue of $610.00 million during the quarter, compared to the consensus estimate of $605.87 million. FleetCor Technologies had a net margin of 32.90% and a return on equity of 21.15%. The business’s quarterly revenue was up 18.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.90 earnings per share. analysts anticipate that FleetCor Technologies, Inc. will post 9.6 EPS for the current fiscal year.
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FleetCor Technologies Company Profile
FleetCor Technologies, Inc is a provider of workforce payment products. The Company offers fuel card payments product solutions, corporate payments products, toll products, lodging cards and gift cards. The Company operates through two segments: North America and International. Its products are sold to businesses, retailers, oil companies and marketers and government entities.
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