Adage Capital Partners GP L.L.C. Trims Stake in FLEETCOR Technologies, Inc. (NYSE:FLT)

Adage Capital Partners GP L.L.C. trimmed its position in shares of FLEETCOR Technologies, Inc. (NYSE:FLTFree Report) by 25.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and 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 about 0.10% of FLEETCOR Technologies worth $18,782,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Raymond James Financial Services Advisors Inc. lifted its stake in shares of FLEETCOR Technologies by 15.7% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 1,504 shares of the business services provider’s stock worth $375,000 after acquiring an additional 204 shares during the last quarter. American Century Companies Inc. lifted its stake in FLEETCOR Technologies by 15.9% in the first quarter. American Century Companies Inc. now owns 2,798 shares of the business services provider’s stock worth $697,000 after acquiring an additional 384 shares during the period. Cambridge Investment Research Advisors Inc. bought a new position in shares of FLEETCOR Technologies during the first quarter valued at approximately $219,000. HighTower Advisors LLC lifted its holdings in FLEETCOR Technologies by 9.5% during the first quarter. HighTower Advisors LLC now owns 4,524 shares of the business services provider’s stock worth $1,119,000 after buying an additional 392 shares during the period. Finally, Private Advisor Group LLC boosted its position in FLEETCOR Technologies by 123.0% during the 1st quarter. Private Advisor Group LLC now owns 2,355 shares of the business services provider’s stock valued at $586,000 after acquiring an additional 1,299 shares in the last quarter. Institutional investors own 94.93% of the company’s stock.

FLEETCOR Technologies Price Performance

Shares of FLEETCOR Technologies stock opened at $293.07 on Friday. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 1.40. FLEETCOR Technologies, Inc. has a twelve month low of $185.04 and a twelve month high of $298.48. The business has a 50-day moving average price of $282.07 and a 200 day moving average price of $264.24. The firm has a market cap of $21.16 billion, a PE ratio of 22.20, a P/E/G ratio of 1.08 and a beta of 1.22.

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

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. BMO Capital Markets dropped their price objective on FLEETCOR Technologies from $340.00 to $330.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 14th. TheStreet raised FLEETCOR Technologies from a “c+” rating to a “b-” rating in a research report on Friday, January 12th. Robert W. Baird upgraded shares of FLEETCOR Technologies from a “neutral” rating to an “outperform” rating and upped their price target for the company from $325.00 to $330.00 in a research note on Monday. Raymond James lifted their target price on FLEETCOR Technologies from $277.00 to $281.00 and gave the stock an “outperform” rating in a report on Friday, November 10th. Finally, JPMorgan Chase & Co. increased their price target on shares of FLEETCOR Technologies from $285.00 to $337.00 and gave the stock an “overweight” rating in a report on Thursday, February 8th. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $299.67.

Check Out Our Latest Report on FLT

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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