Price T Rowe Associates Inc. MD Has $1.16 Billion Position in FLEETCOR Technologies, Inc. (NYSE:FLT)

Price T Rowe Associates Inc. MD lifted its stake in shares of FLEETCOR Technologies, Inc. (NYSE:FLTGet Rating) by 16.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,528,923 shares of the business services provider’s stock after purchasing an additional 775,047 shares during the quarter. Price T Rowe Associates Inc. MD owned 7.37% of FLEETCOR Technologies worth $1,161,682,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Paloma Partners Management Co bought a new stake in shares of FLEETCOR Technologies in the 2nd quarter valued at $2,374,000. Centiva Capital LP acquired a new position in shares of FLEETCOR Technologies during the 2nd quarter valued at $1,940,000. PDT Partners LLC acquired a new position in FLEETCOR Technologies during the second quarter worth $4,455,000. Point72 Hong Kong Ltd raised its holdings in FLEETCOR Technologies by 9,919.0% during the second quarter. Point72 Hong Kong Ltd now owns 15,830 shares of the business services provider’s stock worth $3,326,000 after buying an additional 15,672 shares during the last quarter. Finally, Cubist Systematic Strategies LLC raised its holdings in FLEETCOR Technologies by 550.8% during the second quarter. Cubist Systematic Strategies LLC now owns 101,269 shares of the business services provider’s stock worth $21,278,000 after buying an additional 85,708 shares during the last quarter. 91.52% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Mizuho lowered their price objective on shares of FLEETCOR Technologies from $256.00 to $220.00 and set a “neutral” rating on the stock in a report on Monday, November 14th. Royal Bank of Canada lowered their price objective on shares of FLEETCOR Technologies from $265.00 to $226.00 and set a “sector perform” rating on the stock in a report on Thursday, November 3rd. Truist Financial lowered their price objective on shares of FLEETCOR Technologies from $275.00 to $225.00 and set a “buy” rating on the stock in a report on Thursday, October 13th. Wells Fargo & Company reduced their target price on shares of FLEETCOR Technologies from $298.00 to $274.00 and set an “overweight” rating for the company in a research note on Thursday, September 8th. Finally, Credit Suisse Group reduced their target price on shares of FLEETCOR Technologies from $245.00 to $220.00 and set a “neutral” rating for the company in a research note on Friday, November 4th. Seven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $243.08.

FLEETCOR Technologies Price Performance

FLT opened at $184.37 on Friday. The firm has a market cap of $13.60 billion, a P/E ratio of 15.20, a PEG ratio of 0.78 and a beta of 1.21. The firm has a 50-day moving average of $183.16 and a 200 day moving average of $206.87. The company has a debt-to-equity ratio of 2.13, a quick ratio of 0.99 and a current ratio of 0.99. FLEETCOR Technologies, Inc. has a fifty-two week low of $161.69 and a fifty-two week high of $265.30.

Insider Activity at FLEETCOR Technologies

In related news, insider Alan King sold 1,379 shares of the stock in a transaction dated Monday, September 12th. The shares were sold at an average price of $223.38, for a total transaction of $308,041.02. Following the completion of the transaction, the insider now owns 9,250 shares in the company, valued at $2,066,265. The transaction was disclosed in a document filed with the SEC, which is available through this link. 6.60% of the stock is owned by company insiders.

FLEETCOR Technologies Profile

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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 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.

See Also

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

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