Blue Ridge Capital L.L.C. Raises Stake in FleetCor Technologies, Inc. (FLT)

Blue Ridge Capital L.L.C. boosted its position in FleetCor Technologies, Inc. (NYSE:FLT) by 0.1% during the first quarter, Holdings Channel reports. The institutional investor owned 1,577,500 shares of the business services provider’s stock after buying an additional 2,200 shares during the period. FleetCor Technologies comprises approximately 3.1% of Blue Ridge Capital L.L.C.’s investment portfolio, making the stock its 13th largest position. Blue Ridge Capital L.L.C.’s holdings in FleetCor Technologies were worth $238,881,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in FLT. BlackRock Inc. boosted its stake in FleetCor Technologies by 2,721.2% in the first quarter. BlackRock Inc. now owns 5,251,662 shares of the business services provider’s stock worth $795,260,000 after buying an additional 5,065,513 shares in the last quarter. 12 West Capital Management LP purchased a new stake in FleetCor Technologies during the fourth quarter worth $198,889,000. Egerton Capital UK LLP purchased a new stake in FleetCor Technologies during the first quarter worth $155,014,000. Norges Bank purchased a new stake in FleetCor Technologies during the fourth quarter worth $92,080,000. Finally, FMR LLC boosted its stake in FleetCor Technologies by 32.2% in the first quarter. FMR LLC now owns 2,645,484 shares of the business services provider’s stock worth $400,606,000 after buying an additional 645,085 shares in the last quarter. Institutional investors and hedge funds own 95.28% of the company’s stock.

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

FleetCor Technologies, Inc. (NYSE:FLT) traded down 1.89% during midday trading on Tuesday, reaching $140.83. The company had a trading volume of 588,073 shares. FleetCor Technologies, Inc. has a 52-week low of $121.52 and a 52-week high of $176.42. The company has a market capitalization of $12.99 billion, a P/E ratio of 28.81 and a beta of 1.35. The company’s 50 day moving average is $141.05 and its 200-day moving average is $149.73.

FleetCor Technologies (NYSE:FLT) last issued its earnings results on Monday, May 1st. The business services provider reported $1.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.87 by $0.09. The company had revenue of $520.43 million during the quarter, compared to analyst estimates of $514.56 million. FleetCor Technologies had a net margin of 23.89% and a return on equity of 20.20%. The company’s revenue for the quarter was up 25.6% on a year-over-year basis. During the same quarter last year, the business posted $1.53 EPS. Equities analysts expect that FleetCor Technologies, Inc. will post $8.34 earnings per share for the current fiscal year.

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FLT has been the topic of a number of research reports. Morgan Stanley restated an “overweight” rating and issued a $184.00 price target on shares of FleetCor Technologies in a report on Monday, April 3rd. Zacks Investment Research cut FleetCor Technologies from a “hold” rating to a “sell” rating in a report on Friday, April 28th. Oppenheimer Holdings, Inc. restated an “outperform” rating and issued a $185.00 price target on shares of FleetCor Technologies in a report on Wednesday, March 8th. Deutsche Bank AG restated a “buy” rating and issued a $185.00 price target on shares of FleetCor Technologies in a report on Monday, April 24th. Finally, Citigroup Inc. upgraded FleetCor Technologies from an “outperform” rating to a “strong-buy” rating and set a $180.00 price target on the stock in a report on Tuesday, May 2nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $177.07.

In related news, Director Jeffrey Steven Sloan bought 2,000 shares of the firm’s stock in a transaction on Tuesday, May 9th. The stock was bought at an average price of $134.43 per share, with a total value of $268,860.00. Following the purchase, the director now directly owns 9,991 shares of the company’s stock, valued at approximately $1,343,090.13. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Mark A. Johnson bought 1,000 shares of the firm’s stock in a transaction on Friday, May 5th. The shares were bought at an average cost of $134.15 per share, with a total value of $134,150.00. Following the purchase, the director now directly owns 102,491 shares in the company, valued at $13,749,167.65. The disclosure for this purchase can be found here. Insiders have acquired a total of 8,850 shares of company stock valued at $1,208,985 in the last three months. Company insiders own 4.60% of the company’s stock.

FleetCor Technologies Company Profile

FleetCor Technologies, Inc is a provider of workforce payment products. The Company offers fuel card payments product solutions, corporate payments products, toll products, lodging cards and gift cards. The Company operates through two segments: North America and International. Its products are sold to businesses, retailers, oil companies and marketers and government entities.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “FLT”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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