State Board of Administration of Florida Retirement System Has $23.39 Million Holdings in FLEETCOR Technologies, Inc. (NYSE:FLT)

State Board of Administration of Florida Retirement System trimmed its position in FLEETCOR Technologies, Inc. (NYSE:FLTGet Rating) by 2.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 93,904 shares of the business services provider’s stock after selling 1,940 shares during the period. State Board of Administration of Florida Retirement System’s holdings in FLEETCOR Technologies were worth $23,388,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of FLT. Boston Partners raised its position in shares of FLEETCOR Technologies by 57.1% in the 4th quarter. Boston Partners now owns 1,605,770 shares of the business services provider’s stock valued at $359,795,000 after acquiring an additional 583,594 shares during the period. Capital World Investors raised its position in shares of FLEETCOR Technologies by 9.4% in the 4th quarter. Capital World Investors now owns 3,705,911 shares of the business services provider’s stock valued at $829,531,000 after acquiring an additional 317,514 shares during the period. Alliancebernstein L.P. raised its position in shares of FLEETCOR Technologies by 22.0% in the 4th quarter. Alliancebernstein L.P. now owns 990,313 shares of the business services provider’s stock valued at $221,672,000 after acquiring an additional 178,633 shares during the period. TD Asset Management Inc. raised its position in shares of FLEETCOR Technologies by 83.8% in the 4th quarter. TD Asset Management Inc. now owns 323,239 shares of the business services provider’s stock valued at $72,354,000 after acquiring an additional 147,385 shares during the period. Finally, Thompson Siegel & Walmsley LLC raised its position in shares of FLEETCOR Technologies by 56.3% in the 4th quarter. Thompson Siegel & Walmsley LLC now owns 400,593 shares of the business services provider’s stock valued at $89,669,000 after acquiring an additional 144,341 shares during the period. 97.44% of the stock is currently owned by institutional investors and hedge funds.

FLEETCOR Technologies Stock Up 1.6 %

Shares of FLT stock opened at $226.63 on Friday. The company has a current ratio of 1.06, a quick ratio of 1.01 and a debt-to-equity ratio of 1.77. FLEETCOR Technologies, Inc. has a 1 year low of $200.78 and a 1 year high of $282.02. The firm’s fifty day moving average price is $222.57 and its two-hundred day moving average price is $233.78. The firm has a market capitalization of $17.53 billion, a P/E ratio of 19.47, a PEG ratio of 1.01 and a beta of 1.22.

FLEETCOR Technologies (NYSE:FLTGet Rating) last issued its quarterly earnings results on Thursday, May 5th. The business services provider reported $3.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.27 by $0.08. FLEETCOR Technologies had a net margin of 29.27% and a return on equity of 38.86%. The firm had revenue of $789.20 million for the quarter, compared to analyst estimates of $756.56 million. During the same period in the previous year, the business earned $2.66 EPS. The company’s revenue was up 29.7% compared to the same quarter last year. On average, equities analysts predict that FLEETCOR Technologies, Inc. will post 14.43 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. TheStreet downgraded shares of FLEETCOR Technologies from a “b-” rating to a “c” rating in a research report on Thursday, May 26th. Morgan Stanley lowered their target price on FLEETCOR Technologies from $268.00 to $254.00 and set an “equal weight” rating for the company in a research note on Thursday. Evercore ISI reissued an “outperform” rating and set a $300.00 target price on shares of FLEETCOR Technologies in a research note on Thursday, June 2nd. Citigroup increased their target price on FLEETCOR Technologies from $335.00 to $345.00 and gave the stock a “buy” rating in a research note on Thursday, June 9th. Finally, Barclays lowered their target price on FLEETCOR Technologies from $312.00 to $286.00 and set an “overweight” rating for the company in a research note on Tuesday, July 19th. Five analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, FLEETCOR Technologies currently has a consensus rating of “Moderate Buy” and an average target price of $289.70.

FLEETCOR Technologies 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.

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

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