Lederer & Associates Investment Counsel CA reduced its stake in shares of FleetCor Technologies, Inc. (NYSE:FLT) by 7.5% during the fourth quarter, HoldingsChannel reports. The firm owned 7,355 shares of the business services provider’s stock after selling 600 shares during the period. Lederer & Associates Investment Counsel CA’s holdings in FleetCor Technologies were worth $1,415,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Commonwealth Bank of Australia raised its position in FleetCor Technologies by 13.0% in the second quarter. Commonwealth Bank of Australia now owns 740 shares of the business services provider’s stock worth $105,000 after acquiring an additional 85 shares in the last quarter. Fiduciary Trust Co. bought a new stake in FleetCor Technologies in the second quarter worth about $115,000. FNY Partners Fund LP bought a new stake in FleetCor Technologies in the third quarter worth about $125,000. Toronto Dominion Bank raised its position in FleetCor Technologies by 11.1% in the second quarter. Toronto Dominion Bank now owns 1,128 shares of the business services provider’s stock worth $163,000 after acquiring an additional 113 shares in the last quarter. Finally, IBM Retirement Fund bought a new stake in FleetCor Technologies in the third quarter worth about $211,000. Institutional investors and hedge funds own 95.20% of the company’s stock.
FleetCor Technologies, Inc. (NYSE FLT) traded up $1.67 during midday trading on Thursday, reaching $202.58. The company’s stock had a trading volume of 471,134 shares, compared to its average volume of 667,504. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.86. The firm has a market cap of $18,150.00, a P/E ratio of 34.45, a PEG ratio of 1.23 and a beta of 1.53. FleetCor Technologies, Inc. has a 12-month low of $121.52 and a 12-month high of $203.59.
Several brokerages have commented on FLT. Zacks Investment Research upgraded shares of FleetCor Technologies from a “hold” rating to a “buy” rating and set a $221.00 price target on the stock in a research report on Wednesday. Wells Fargo & Co set a $225.00 price target on shares of FleetCor Technologies and gave the stock a “buy” rating in a research report on Wednesday. Deutsche Bank boosted their price target on shares of FleetCor Technologies from $185.00 to $225.00 and gave the stock a “buy” rating in a research report on Tuesday, December 5th. Barclays boosted their price target on shares of FleetCor Technologies from $180.00 to $200.00 and gave the stock an “overweight” rating in a research report on Thursday, November 2nd. Finally, Morgan Stanley boosted their price target on shares of FleetCor Technologies from $189.00 to $194.00 and gave the stock an “overweight” rating in a research report on Thursday, November 2nd. One equities research analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. FleetCor Technologies presently has an average rating of “Buy” and a consensus price target of $194.31.
In other FleetCor Technologies news, insider Kurt Patrick Adams sold 7,099 shares of the business’s stock in a transaction dated Thursday, November 2nd. The stock was sold at an average price of $170.00, for a total transaction of $1,206,830.00. Following the sale, the insider now owns 9,246 shares in the company, valued at approximately $1,571,820. The transaction was disclosed in a filing with the SEC, which is available through this link. 4.60% of the stock is currently owned by insiders.
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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.
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