Nisa Investment Advisors LLC boosted its holdings in shares of FleetCor Technologies, Inc. (NYSE:FLT) by 57.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,905 shares of the business services provider’s stock after acquiring an additional 3,970 shares during the period. Nisa Investment Advisors LLC’s holdings in FleetCor Technologies were worth $2,743,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Evolution Wealth Advisors LLC lifted its position in FleetCor Technologies by 18.1% during the 2nd quarter. Evolution Wealth Advisors LLC now owns 684 shares of the business services provider’s stock valued at $172,000 after acquiring an additional 105 shares during the period. Dupont Capital Management Corp raised its holdings in FleetCor Technologies by 36.7% in the second quarter. Dupont Capital Management Corp now owns 3,138 shares of the business services provider’s stock worth $789,000 after buying an additional 842 shares during the last quarter. Wambolt & Associates LLC purchased a new position in FleetCor Technologies in the second quarter worth about $263,000. Janney Montgomery Scott LLC raised its holdings in FleetCor Technologies by 9.3% in the second quarter. Janney Montgomery Scott LLC now owns 1,195 shares of the business services provider’s stock worth $301,000 after buying an additional 102 shares during the last quarter. Finally, Three Peaks Capital Management LLC raised its holdings in FleetCor Technologies by 16.6% in the second quarter. Three Peaks Capital Management LLC now owns 15,323 shares of the business services provider’s stock worth $3,854,000 after buying an additional 2,177 shares during the last quarter. 91.36% of the stock is owned by institutional investors.
In related news, insider Alexey Gavrilenya sold 5,000 shares of the firm’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $279.91, for a total value of $1,399,550.00. Following the transaction, the insider now directly owns 7,661 shares of the company’s stock, valued at approximately $2,144,390.51. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 5.70% of the stock is currently owned by company insiders.
FleetCor Technologies (NYSE:FLT) last announced its earnings results on Thursday, May 7th. The business services provider reported $3.00 EPS for the quarter, topping the Zacks’ consensus estimate of $2.83 by $0.17. FleetCor Technologies had a return on equity of 29.18% and a net margin of 32.37%. The company had revenue of $661.09 million for the quarter, compared to analysts’ expectations of $636.20 million. During the same period last year, the firm earned $2.67 EPS. FleetCor Technologies’s revenue for the quarter was up 6.3% compared to the same quarter last year. Analysts predict that FleetCor Technologies, Inc. will post 10.19 EPS for the current year.
Several brokerages have issued reports on FLT. Cfra reaffirmed a “hold” rating and issued a $275.00 target price (down from $325.00) on shares of FleetCor Technologies in a report on Monday, May 11th. Robert W. Baird boosted their price objective on shares of FleetCor Technologies from $220.00 to $258.00 and gave the company a “neutral” rating in a report on Monday, May 4th. Credit Suisse Group increased their price objective on shares of FleetCor Technologies from $250.00 to $255.00 and gave the company a “neutral” rating in a research report on Wednesday, July 15th. Zacks Investment Research raised shares of FleetCor Technologies from a “sell” rating to a “hold” rating and set a $264.00 target price for the company in a research report on Friday, May 8th. Finally, Wells Fargo & Co decreased their target price on shares of FleetCor Technologies from $350.00 to $250.00 and set an “overweight” rating for the company in a research note on Wednesday, April 8th. One analyst has rated the stock with a sell rating, nine have given a hold rating and eleven have issued a buy rating to the stock. FleetCor Technologies has a consensus rating of “Hold” and a consensus target price of $286.47.
FleetCor Technologies Company 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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