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:FLT – Get 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:FLT – Get 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

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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.