CIBC World Markets Inc. lessened its stake in shares of FLEETCOR Technologies, Inc. (NYSE:FLT) by 8.1% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 8,598 shares of the business services provider’s stock after selling 756 shares during the quarter. CIBC World Markets Inc.’s holdings in FLEETCOR Technologies were worth $2,310,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Certified Advisory Corp bought a new stake in shares of FLEETCOR Technologies during the 1st quarter worth about $27,000. Tompkins Financial Corp bought a new stake in shares of FLEETCOR Technologies during the 4th quarter worth about $29,000. Ellevest Inc. boosted its stake in shares of FLEETCOR Technologies by 138.3% during the 4th quarter. Ellevest Inc. now owns 112 shares of the business services provider’s stock worth $31,000 after acquiring an additional 65 shares in the last quarter. Wealthcare Advisory Partners LLC acquired a new position in shares of FLEETCOR Technologies during the 1st quarter worth about $34,000. Finally, Regent Peak Wealth Advisors LLC acquired a new position in shares of FLEETCOR Technologies during the 4th quarter worth about $41,000. Institutional investors own 90.79% of the company’s stock.
Several research firms recently weighed in on FLT. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell boosted their price objective on FLEETCOR Technologies from $310.00 to $335.00 in a research report on Friday, May 7th. Wells Fargo & Company boosted their price objective on FLEETCOR Technologies from $290.00 to $320.00 and gave the stock an “overweight” rating in a research report on Thursday, May 6th. Citigroup boosted their price objective on FLEETCOR Technologies from $310.00 to $335.00 in a research report on Friday, May 7th. Mizuho boosted their price objective on FLEETCOR Technologies from $245.00 to $280.00 and gave the stock a “neutral” rating in a research report on Monday, May 10th. Finally, Susquehanna Bancshares upped their price target on FLEETCOR Technologies from $305.00 to $350.00 and gave the company a “positive” rating in a report on Thursday, April 1st. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $308.07.
FLEETCOR Technologies (NYSE:FLT) last released its quarterly earnings results on Wednesday, May 5th. The business services provider reported $2.66 EPS for the quarter, topping the Zacks’ consensus estimate of $2.56 by $0.10. The business had revenue of $608.62 million for the quarter, compared to analyst estimates of $605.61 million. FLEETCOR Technologies had a return on equity of 28.76% and a net margin of 31.73%. On average, research analysts anticipate that FLEETCOR Technologies, Inc. will post 11.75 earnings per share for the current year.
About FLEETCOR Technologies
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 suppliers, foreign office and personnel expenses, capital expenditures, and profit repatriation and dividends; and purchasing cards and travel and entertainment cards for its customers to analyse and manage their corporate spending.
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