Stifel Financial Corp Raises Position in FLEETCOR Technologies, Inc. (NYSE:FLT)


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Stifel Financial Corp grew its holdings in shares of FLEETCOR Technologies, Inc. (NYSE:FLT) by 47.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,991 shares of the business services provider’s stock after purchasing an additional 1,282 shares during the quarter. Stifel Financial Corp’s holdings in FLEETCOR Technologies were worth $1,089,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of FLT. Mawer Investment Management Ltd. lifted its stake in shares of FLEETCOR Technologies by 137.9% during the 4th quarter. Mawer Investment Management Ltd. now owns 1,067,317 shares of the business services provider’s stock worth $291,196,000 after purchasing an additional 618,617 shares during the period. Victory Capital Management Inc. lifted its stake in shares of FLEETCOR Technologies by 325.9% during the 4th quarter. Victory Capital Management Inc. now owns 199,570 shares of the business services provider’s stock worth $54,449,000 after purchasing an additional 152,715 shares during the period. Robeco Institutional Asset Management B.V. lifted its stake in shares of FLEETCOR Technologies by 153.5% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 158,553 shares of the business services provider’s stock worth $43,257,000 after purchasing an additional 96,006 shares during the period. The Manufacturers Life Insurance Company lifted its stake in shares of FLEETCOR Technologies by 105.2% during the 4th quarter. The Manufacturers Life Insurance Company now owns 184,565 shares of the business services provider’s stock worth $50,355,000 after purchasing an additional 94,616 shares during the period. Finally, Douglas Lane & Associates LLC lifted its stake in shares of FLEETCOR Technologies by 159.5% during the 4th quarter. Douglas Lane & Associates LLC now owns 134,088 shares of the business services provider’s stock worth $36,583,000 after purchasing an additional 82,421 shares during the period. 94.30% of the stock is currently owned by institutional investors.

Several research analysts recently weighed in on the company. Barclays increased their target price on FLEETCOR Technologies from $292.00 to $310.00 and gave the stock an “overweight” rating in a research report on Monday, February 8th. Credit Suisse Group increased their target price on FLEETCOR Technologies from $240.00 to $270.00 and gave the stock a “neutral” rating in a research report on Friday, February 5th. Susquehanna increased their target price on FLEETCOR Technologies from $305.00 to $350.00 and gave the stock a “positive” rating in a research report on Thursday, April 1st. Susquehanna Bancshares increased their target price on FLEETCOR Technologies from $305.00 to $350.00 and gave the stock a “positive” rating in a research report on Thursday, April 1st. Finally, Bank of America raised FLEETCOR Technologies from a “neutral” rating to a “buy” rating in a research report on Wednesday, January 6th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and seventeen have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $292.65.

Shares of FLEETCOR Technologies stock opened at $281.27 on Thursday. The business has a 50-day moving average of $279.52 and a 200-day moving average of $262.74. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.95 and a quick ratio of 0.95. The company has a market capitalization of $23.46 billion, a PE ratio of 33.93, a P/E/G ratio of 2.49 and a beta of 1.50. FLEETCOR Technologies, Inc. has a 1-year low of $203.18 and a 1-year high of $292.70.

FLEETCOR Technologies (NYSE:FLT) last announced its earnings results on Thursday, February 4th. The business services provider reported $3.01 earnings per share for the quarter, beating the consensus estimate of $2.81 by $0.20. The company had revenue of $617.33 million during the quarter, compared to the consensus estimate of $603.81 million. FLEETCOR Technologies had a return on equity of 30.65% and a net margin of 29.55%. During the same period last year, the firm earned $3.17 earnings per share. On average, equities analysts expect that FLEETCOR Technologies, Inc. will post 10.46 earnings per share for the current fiscal year.

FLEETCOR Technologies Profile

FLEETCOR Technologies, Inc operates as a business payments company that simplifies the way businesses manage and pay expenses. The company's portfolio of brands help companies automate, secure, digitize, and control payments on behalf of employees and suppliers. It offers payment solutions in five primary categories, including fuel, lodging, tolls, corporate payments, and gift.

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Institutional Ownership by Quarter for FLEETCOR Technologies (NYSE:FLT)

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