Adage Capital Partners GP L.L.C. Decreases Stock Position in FLEETCOR Technologies, Inc. (NYSE:FLT)

Adage Capital Partners GP L.L.C. trimmed its stake in shares of FLEETCOR Technologies, Inc. (NYSE:FLTFree Report) by 25.4% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 73,558 shares of the business services provider’s stock after selling 25,000 shares during the period. Adage Capital Partners GP L.L.C. owned approximately 0.10% of FLEETCOR Technologies worth $18,782,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Glenmede Trust Co. NA grew its position in shares of FLEETCOR Technologies by 5.1% during the 3rd quarter. Glenmede Trust Co. NA now owns 79,383 shares of the business services provider’s stock valued at $20,270,000 after acquiring an additional 3,843 shares during the period. SRS Capital Advisors Inc. purchased a new position in shares of FLEETCOR Technologies in the third quarter worth $168,000. Lazard Asset Management LLC bought a new position in shares of FLEETCOR Technologies during the third quarter worth $38,000. Logan Capital Management Inc. grew its stake in FLEETCOR Technologies by 12.8% during the third quarter. Logan Capital Management Inc. now owns 8,741 shares of the business services provider’s stock valued at $2,232,000 after acquiring an additional 994 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec grew its position in shares of FLEETCOR Technologies by 797.3% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 10,283 shares of the business services provider’s stock valued at $2,626,000 after purchasing an additional 9,137 shares in the last quarter. Hedge funds and other institutional investors own 94.93% of the company’s stock.

FLEETCOR Technologies Stock Performance

Shares of FLEETCOR Technologies stock opened at $293.07 on Friday. FLEETCOR Technologies, Inc. has a one year low of $185.04 and a one year high of $298.48. The company has a market capitalization of $21.16 billion, a PE ratio of 22.20, a P/E/G ratio of 1.08 and a beta of 1.22. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.04 and a current ratio of 1.04. The company has a 50-day simple moving average of $282.07 and a two-hundred day simple moving average of $264.24.

FLEETCOR Technologies (NYSE:FLTGet Free Report) last issued its quarterly earnings results on Wednesday, February 7th. The business services provider reported $4.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.48 by ($0.04). FLEETCOR Technologies had a net margin of 26.13% and a return on equity of 37.56%. The company had revenue of $937.32 million for the quarter, compared to analyst estimates of $967.01 million. During the same quarter in the previous year, the company posted $3.83 EPS. The company’s revenue for the quarter was up 6.1% compared to the same quarter last year. Research analysts expect that FLEETCOR Technologies, Inc. will post 18.21 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on FLT shares. StockNews.com raised FLEETCOR Technologies from a “hold” rating to a “buy” rating in a research note on Friday, February 9th. JPMorgan Chase & Co. increased their target price on FLEETCOR Technologies from $285.00 to $337.00 and gave the company an “overweight” rating in a research report on Thursday, February 8th. BMO Capital Markets reduced their price target on shares of FLEETCOR Technologies from $340.00 to $330.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 14th. Royal Bank of Canada increased their price objective on shares of FLEETCOR Technologies from $270.00 to $302.00 and gave the company a “sector perform” rating in a research report on Thursday, February 8th. Finally, Jefferies Financial Group upped their target price on shares of FLEETCOR Technologies from $325.00 to $330.00 and gave the company a “buy” rating in a research report on Wednesday, January 17th. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $299.67.

Check Out Our Latest Analysis on FLEETCOR Technologies

FLEETCOR Technologies Company Profile

(Free Report)

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.

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

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