Envestnet Asset Management Inc. Has $12.75 Million Holdings in FLEETCOR Technologies, Inc. (NYSE:FLT)

Envestnet Asset Management Inc. raised its position in FLEETCOR Technologies, Inc. (NYSE:FLTGet Rating) by 29.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 51,204 shares of the business services provider’s stock after buying an additional 11,757 shares during the period. Envestnet Asset Management Inc. owned 0.07% of FLEETCOR Technologies worth $12,753,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in FLT. Boston Partners boosted its position in FLEETCOR Technologies by 57.1% in the fourth quarter. Boston Partners now owns 1,605,770 shares of the business services provider’s stock valued at $359,795,000 after buying an additional 583,594 shares in the last quarter. Capital World Investors lifted its position in shares of FLEETCOR Technologies by 9.4% during the fourth quarter. Capital World Investors now owns 3,705,911 shares of the business services provider’s stock worth $829,531,000 after purchasing an additional 317,514 shares in the last quarter. Alliancebernstein L.P. lifted its position in shares of FLEETCOR Technologies by 22.0% during the fourth quarter. Alliancebernstein L.P. now owns 990,313 shares of the business services provider’s stock worth $221,672,000 after purchasing an additional 178,633 shares in the last quarter. TD Asset Management Inc. lifted its position in shares of FLEETCOR Technologies by 83.8% during the fourth quarter. TD Asset Management Inc. now owns 323,239 shares of the business services provider’s stock worth $72,354,000 after purchasing an additional 147,385 shares in the last quarter. Finally, Thompson Siegel & Walmsley LLC lifted its position in shares of FLEETCOR Technologies by 56.3% during the fourth quarter. Thompson Siegel & Walmsley LLC now owns 400,593 shares of the business services provider’s stock worth $89,669,000 after purchasing an additional 144,341 shares in the last quarter. 97.44% of the stock is currently owned by institutional investors and hedge funds.

FLEETCOR Technologies Stock Up 1.6 %

Shares of NYSE:FLT opened at $226.63 on Friday. FLEETCOR Technologies, Inc. has a 52 week low of $200.78 and a 52 week high of $282.02. The company has a debt-to-equity ratio of 1.52, a quick ratio of 1.01 and a current ratio of 1.01. The company has a market capitalization of $17.53 billion, a PE ratio of 19.47, a PEG ratio of 1.02 and a beta of 1.22. The company has a 50 day moving average price of $222.57 and a two-hundred day moving average price of $233.78.

FLEETCOR Technologies (NYSE:FLTGet Rating) last issued its quarterly earnings data on Thursday, May 5th. The business services provider reported $3.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.27 by $0.08. FLEETCOR Technologies had a net margin of 29.27% and a return on equity of 37.90%. The company had revenue of $789.20 million during the quarter, compared to the consensus estimate of $756.56 million. During the same quarter in the prior year, the firm earned $2.66 earnings per share. The firm’s revenue was up 29.7% compared to the same quarter last year. Analysts forecast that FLEETCOR Technologies, Inc. will post 14.43 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Evercore ISI reiterated an “outperform” rating and set a $300.00 target price on shares of FLEETCOR Technologies in a research report on Thursday, June 2nd. Truist Financial cut their price objective on shares of FLEETCOR Technologies from $290.00 to $275.00 and set a “buy” rating on the stock in a report on Thursday, June 30th. Barclays cut their price objective on shares of FLEETCOR Technologies from $312.00 to $286.00 and set an “overweight” rating on the stock in a report on Tuesday, July 19th. Royal Bank of Canada cut their price objective on shares of FLEETCOR Technologies from $300.00 to $265.00 and set a “sector perform” rating on the stock in a report on Thursday. Finally, TheStreet lowered shares of FLEETCOR Technologies from a “b-” rating to a “c” rating in a report on Thursday, May 26th. Five equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, FLEETCOR Technologies currently has an average rating of “Moderate Buy” and an average target price of $289.70.

FLEETCOR Technologies Company Profile

(Get Rating)

FLEETCOR Technologies, Inc provides digital payment solutions for businesses to control purchases and make payments. It offers corporate payments solutions, such as accounts payable automation; Virtual Card, which provides a single-use card number for a specific amount usable within a defined timeframe; Cross-Border that is used by its customers to pay international vendors, foreign office and personnel expenses, capital expenditures, and profit repatriation and dividends; and purchasing cards and travel and entertainment cards for its customers to analyze and manage their corporate spending.

Further Reading

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

Receive News & Ratings for FLEETCOR Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FLEETCOR Technologies and related companies with MarketBeat.com's FREE daily email newsletter.