Montag & Caldwell LLC Cuts Position in FLEETCOR Technologies, Inc. (NYSE:FLT)

Montag & Caldwell LLC trimmed its position in shares of FLEETCOR Technologies, Inc. (NYSE:FLT) by 5.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 128,756 shares of the business services provider’s stock after selling 7,705 shares during the period. FLEETCOR Technologies comprises about 3.0% of Montag & Caldwell LLC’s portfolio, making the stock its 13th biggest position. Montag & Caldwell LLC owned 0.15% of FLEETCOR Technologies worth $32,969,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp boosted its holdings in FLEETCOR Technologies by 4.5% in the second quarter. Bank of New York Mellon Corp now owns 657,084 shares of the business services provider’s stock valued at $168,255,000 after purchasing an additional 28,547 shares in the last quarter. Kalos Management Inc. boosted its holdings in FLEETCOR Technologies by 9.1% in the second quarter. Kalos Management Inc. now owns 7,186 shares of the business services provider’s stock valued at $1,884,000 after purchasing an additional 598 shares in the last quarter. Deutsche Bank AG boosted its holdings in FLEETCOR Technologies by 7.5% in the second quarter. Deutsche Bank AG now owns 194,116 shares of the business services provider’s stock valued at $49,706,000 after purchasing an additional 13,617 shares in the last quarter. NorthCoast Asset Management LLC boosted its holdings in FLEETCOR Technologies by 0.4% in the second quarter. NorthCoast Asset Management LLC now owns 85,757 shares of the business services provider’s stock valued at $21,959,000 after purchasing an additional 310 shares in the last quarter. Finally, Mawer Investment Management Ltd. boosted its holdings in FLEETCOR Technologies by 38.2% in the second quarter. Mawer Investment Management Ltd. now owns 1,645,195 shares of the business services provider’s stock valued at $421,269,000 after purchasing an additional 455,013 shares in the last quarter. Hedge funds and other institutional investors own 91.54% of the company’s stock.

Shares of NYSE FLT traded down $1.57 during mid-day trading on Tuesday, hitting $253.47. 5,213 shares of the company were exchanged, compared to its average volume of 615,585. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 1.07. The stock has a 50 day simple moving average of $258.60 and a 200-day simple moving average of $269.50. FLEETCOR Technologies, Inc. has a 1-year low of $214.88 and a 1-year high of $295.36. The firm has a market cap of $20.94 billion, a price-to-earnings ratio of 28.09, a price-to-earnings-growth ratio of 1.41 and a beta of 1.44.

FLEETCOR Technologies (NYSE:FLT) last issued its quarterly earnings results on Wednesday, August 4th. The business services provider reported $3.15 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.94 by $0.21. FLEETCOR Technologies had a return on equity of 29.53% and a net margin of 31.43%. The firm had revenue of $667.38 million during the quarter, compared to the consensus estimate of $637.45 million. During the same period last year, the company earned $2.28 earnings per share. The company’s revenue for the quarter was up 27.1% on a year-over-year basis. Analysts anticipate that FLEETCOR Technologies, Inc. will post 12.31 earnings per share for the current fiscal year.

A number of equities analysts recently issued reports on the company. JPMorgan Chase & Co. upped their price target on FLEETCOR Technologies from $305.00 to $319.00 and gave the company an “overweight” rating in a report on Tuesday, August 17th. TheStreet raised FLEETCOR Technologies from a “c+” rating to a “b” rating in a report on Friday, August 6th. Morgan Stanley upped their price target on FLEETCOR Technologies from $275.00 to $285.00 and gave the company an “equal weight” rating in a report on Thursday, August 5th. Finally, Credit Suisse Group increased their price objective on FLEETCOR Technologies from $270.00 to $275.00 and gave the company a “neutral” rating in a report on Friday, August 6th. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $318.00.

FLEETCOR Technologies Company Profile

FLEETCOR Technologies, Inc engages in the provision of digital payment solutions that enables businesses to control purchases and make payments. It operates through the following geographical segments: North America, International, and Brazil. The company was founded by William Boatner Reily III and Ronald F.

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

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