Russell Investments Group Ltd. Purchases 2,484 Shares of FLEETCOR Technologies, Inc. (NYSE:FLT)

Russell Investments Group Ltd. grew its position in shares of FLEETCOR Technologies, Inc. (NYSE:FLT) by 3.1% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 81,635 shares of the business services provider’s stock after buying an additional 2,484 shares during the quarter. Russell Investments Group Ltd.’s holdings in FLEETCOR Technologies were worth $20,489,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in FLEETCOR Technologies by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 8,624,531 shares of the business services provider’s stock worth $2,148,025,000 after buying an additional 111,367 shares during the period. BlackRock Inc. increased its position in shares of FLEETCOR Technologies by 0.3% in the first quarter. BlackRock Inc. now owns 5,374,603 shares of the business services provider’s stock worth $1,133,235,000 after purchasing an additional 17,207 shares during the period. Orbis Allan Gray Ltd increased its position in shares of FLEETCOR Technologies by 5.6% in the first quarter. Orbis Allan Gray Ltd now owns 5,089,978 shares of the business services provider’s stock worth $1,073,222,000 after purchasing an additional 268,052 shares during the period. JPMorgan Chase & Co. increased its position in shares of FLEETCOR Technologies by 4.3% in the first quarter. JPMorgan Chase & Co. now owns 3,723,307 shares of the business services provider’s stock worth $785,058,000 after purchasing an additional 152,349 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its position in shares of FLEETCOR Technologies by 89.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,290,599 shares of the business services provider’s stock worth $693,824,000 after purchasing an additional 1,551,830 shares during the period. Institutional investors own 94.93% of the company’s stock.

FLEETCOR Technologies Price Performance

Shares of FLT opened at $235.30 on Tuesday. FLEETCOR Technologies, Inc. has a 1 year low of $175.08 and a 1 year high of $278.35. The company has a debt-to-equity ratio of 1.52, a current ratio of 1.02 and a quick ratio of 1.02. The company has a market capitalization of $16.99 billion, a price-to-earnings ratio of 18.45, a price-to-earnings-growth ratio of 1.21 and a beta of 1.20. The business has a 50-day moving average of $248.04 and a 200-day moving average of $248.78.

FLEETCOR Technologies (NYSE:FLT) last issued its quarterly earnings data on Wednesday, November 8th. The business services provider reported $4.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.19 by $0.30. FLEETCOR Technologies had a return on equity of 39.20% and a net margin of 25.68%. The company had revenue of $970.89 million during the quarter, compared to the consensus estimate of $973.87 million. During the same period last year, the company earned $3.91 earnings per share. The firm’s revenue was up 8.7% compared to the same quarter last year. As a group, equities research analysts anticipate that FLEETCOR Technologies, Inc. will post 15.75 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently commented on FLT. Raymond James raised their price target on FLEETCOR Technologies from $277.00 to $281.00 and gave the stock an “outperform” rating in a research report on Friday, November 10th. Royal Bank of Canada reduced their price objective on FLEETCOR Technologies from $277.00 to $270.00 and set a “sector perform” rating on the stock in a research note on Thursday, November 9th. Truist Financial raised their price objective on FLEETCOR Technologies from $305.00 to $315.00 and gave the company a “buy” rating in a research note on Wednesday, September 13th. JPMorgan Chase & Co. raised their price objective on FLEETCOR Technologies from $275.00 to $326.00 and gave the company an “overweight” rating in a research note on Tuesday, August 22nd. Finally, StockNews.com raised FLEETCOR Technologies from a “hold” rating to a “buy” rating in a research note on Friday. Six analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, FLEETCOR Technologies currently has a consensus rating of “Moderate Buy” and a consensus target price of $282.27.

FLEETCOR Technologies Profile

FLEETCOR Technologies, Inc, a business payments company that helps businesses spend less by enabling them to manage their expense-related purchasing and vendor payments processes. 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.