Mackay Shields LLC cut its holdings in FleetCor Technologies, Inc. (NYSE:FLT) by 0.5% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 13,300 shares of the business services provider’s stock after selling 65 shares during the period. Mackay Shields LLC’s holdings in FleetCor Technologies were worth $2,481,000 as of its most recent filing with the SEC.
Other hedge funds have also added to or reduced their stakes in the company. NumerixS Investment Technologies Inc acquired a new position in shares of FleetCor Technologies in the fourth quarter valued at about $29,000. CFM Wealth Partners LLC acquired a new position in shares of FleetCor Technologies in the fourth quarter valued at about $41,000. Orion Portfolio Solutions LLC acquired a new position in shares of FleetCor Technologies in the fourth quarter valued at about $41,000. Signaturefd LLC grew its stake in shares of FleetCor Technologies by 30.0% in the fourth quarter. Signaturefd LLC now owns 143 shares of the business services provider’s stock valued at $41,000 after acquiring an additional 33 shares in the last quarter. Finally, Sowell Financial Services LLC grew its stake in shares of FleetCor Technologies by 154.9% in the fourth quarter. Sowell Financial Services LLC now owns 181 shares of the business services provider’s stock valued at $52,000 after acquiring an additional 110 shares in the last quarter. Institutional investors and hedge funds own 94.09% of the company’s stock.
A number of equities research analysts have issued reports on the stock. BTIG Research reiterated a “buy” rating and set a $290.00 price objective (down from $340.00) on shares of FleetCor Technologies in a research note on Thursday, May 7th. Credit Suisse Group reduced their price objective on shares of FleetCor Technologies from $255.00 to $250.00 and set a “neutral” rating on the stock in a research note on Friday, May 8th. Oppenheimer initiated coverage on shares of FleetCor Technologies in a research note on Thursday, May 7th. They set a “buy” rating and a $335.00 price objective on the stock. Wells Fargo & Co reduced their price target on shares of FleetCor Technologies from $350.00 to $250.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 8th. Finally, Robert W. Baird raised their price target on shares of FleetCor Technologies from $220.00 to $258.00 and gave the company a “neutral” rating in a research note on Monday, May 4th. Eleven equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. FleetCor Technologies currently has an average rating of “Hold” and a consensus target price of $267.35.
Shares of NYSE FLT opened at $239.25 on Friday. The company has a 50 day simple moving average of $222.20 and a 200 day simple moving average of $269.89. The firm has a market cap of $20.49 billion, a PE ratio of 20.75, a price-to-earnings-growth ratio of 2.00 and a beta of 1.49. FleetCor Technologies, Inc. has a 1 year low of $168.51 and a 1 year high of $329.85. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.93 and a quick ratio of 0.93.
FleetCor Technologies (NYSE:FLT) last issued its quarterly earnings data on Thursday, May 7th. The business services provider reported $3.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.83 by $0.17. The business had revenue of $661.09 million during the quarter, compared to analyst estimates of $636.20 million. FleetCor Technologies had a net margin of 32.37% and a return on equity of 29.18%. The firm’s quarterly revenue was up 6.3% on a year-over-year basis. During the same quarter last year, the business earned $2.67 EPS. As a group, research analysts anticipate that FleetCor Technologies, Inc. will post 9.97 earnings per share for the current fiscal year.
About FleetCor Technologies
FleetCor Technologies, Inc provides commercial payment solutions in North America, Latin America, Europe, and Australasia. The company offers fuel payment solutions to businesses and government entities that operate vehicle fleets, as well as to oil and leasing companies, and fuel marketers. Its fuel payment products are in the form of plastic cards, electronic RFID tags, and paper vouchers to purchase fuel, oil, vehicle maintenance supplies and services, and building supplies.
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