Nomura Holdings Inc. boosted its position in shares of FleetCor Technologies, Inc. (NYSE:FLT) by 872.4% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 56,400 shares of the business services provider’s stock after purchasing an additional 50,600 shares during the period. Nomura Holdings Inc. owned 0.07% of FleetCor Technologies worth $15,975,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of FLT. Bray Capital Advisors purchased a new position in FleetCor Technologies during the 2nd quarter worth approximately $25,000. Meeder Asset Management Inc. purchased a new position in shares of FleetCor Technologies during the 2nd quarter valued at $30,000. Motco purchased a new position in shares of FleetCor Technologies during the 2nd quarter valued at $33,000. Advisory Services Network LLC grew its holdings in shares of FleetCor Technologies by 94.2% during the 2nd quarter. Advisory Services Network LLC now owns 134 shares of the business services provider’s stock valued at $38,000 after acquiring an additional 65 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC purchased a new position in shares of FleetCor Technologies during the 2nd quarter valued at $56,000. Hedge funds and other institutional investors own 93.54% of the company’s stock.
Several equities analysts have recently commented on FLT shares. BTIG Research restated a “buy” rating and set a $340.00 price target on shares of FleetCor Technologies in a report on Monday, July 8th. Morgan Stanley cut shares of FleetCor Technologies from an “overweight” rating to an “equal weight” rating and boosted their price target for the company from $240.00 to $284.00 in a report on Thursday, July 11th. Barclays set a $340.00 price target on shares of FleetCor Technologies and gave the company a “buy” rating in a report on Monday, August 12th. Bank of America started coverage on shares of FleetCor Technologies in a report on Monday, June 3rd. They set a “neutral” rating and a $275.00 price target on the stock. Finally, Citigroup boosted their price target on shares of FleetCor Technologies from $300.00 to $340.00 and gave the company a “buy” rating in a report on Monday, September 9th. Eight analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $275.87.
FleetCor Technologies (NYSE:FLT) last issued its quarterly earnings data on Tuesday, August 6th. The business services provider reported $2.69 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.64 by $0.05. The firm had revenue of $647.09 million during the quarter, compared to analysts’ expectations of $633.95 million. FleetCor Technologies had a net margin of 35.29% and a return on equity of 26.37%. FleetCor Technologies’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same period in the prior year, the company posted $2.57 earnings per share. On average, sell-side analysts predict that FleetCor Technologies, Inc. will post 11.15 EPS for the current fiscal year.
FleetCor Technologies Profile
FleetCor Technologies, Inc provides commercial payment solutions in North America, Latin America, Europe, and Australasia. The company offers fuel payment solutions to businesses and government entities that operate vehicle fleets, as well as to oil and leasing companies, and fuel marketers. Its fuel payment products are in the form of plastic cards, electronic RFID tags, and paper vouchers to purchase fuel, oil, vehicle maintenance supplies and services, and building supplies.
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