Envestnet Portfolio Solutions Inc. Acquires New Shares in FLEETCOR Technologies, Inc. (NYSE:FLT)

Envestnet Portfolio Solutions Inc. Acquires New Shares in FLEETCOR Technologies, Inc. (NYSE:FLT)

Envestnet Portfolio Solutions Inc. purchased a new stake in shares of FLEETCOR Technologies, Inc. (NYSE:FLT – Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 2,912 shares of the business services provider’s stock, valued at approximately $744,000.

Other institutional investors have also added to or reduced their stakes in the company. Covestor Ltd grew its holdings in FLEETCOR Technologies by 253.1% during the 1st quarter. Covestor Ltd now owns 113 shares of the business services provider’s stock valued at $28,000 after buying an additional 81 shares in the last quarter. Sunbelt Securities Inc. purchased a new position in shares of FLEETCOR Technologies in the 1st quarter worth approximately $28,000. Fred Alger Management LLC boosted its holdings in shares of FLEETCOR Technologies by 102.4% in the 3rd quarter. Fred Alger Management LLC now owns 170 shares of the business services provider’s stock worth $30,000 after purchasing an additional 86 shares during the period. Clear Street Markets LLC boosted its holdings in shares of FLEETCOR Technologies by 93.3% in the 1st quarter. Clear Street Markets LLC now owns 145 shares of the business services provider’s stock worth $31,000 after purchasing an additional 70 shares during the period. Finally, Itau Unibanco Holding S.A. purchased a new position in shares of FLEETCOR Technologies in the 2nd quarter worth approximately $33,000. Hedge funds and other institutional investors own 94.93% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on FLT shares. Morgan Stanley dropped their target price on FLEETCOR Technologies from $244.00 to $240.00 and set an “equal weight” rating for the company in a report on Thursday, November 9th. Mizuho lifted their target price on FLEETCOR Technologies from $235.00 to $265.00 and gave the stock a “neutral” rating in a report on Thursday, January 18th. StockNews.com upgraded FLEETCOR Technologies from a “hold” rating to a “buy” rating in a report on Friday, February 9th. Robert W. Baird boosted their price objective on FLEETCOR Technologies from $302.00 to $315.00 and gave the company a “neutral” rating in a report on Thursday, December 21st. Finally, BMO Capital Markets dropped their price objective on FLEETCOR Technologies from $340.00 to $330.00 and set an “outperform” rating for the company in a report on Wednesday, February 14th. Five analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $298.67.

Get Our Latest Analysis on FLT

FLEETCOR Technologies Trading Up 1.9 %

FLT opened at $281.20 on Friday. The firm has a market cap of $20.30 billion, a price-to-earnings ratio of 21.30, a PEG ratio of 1.05 and a beta of 1.26. The company has a current ratio of 1.04, a quick ratio of 1.02 and a debt-to-equity ratio of 1.40. FLEETCOR Technologies, Inc. has a 12 month low of $185.04 and a 12 month high of $298.48. The stock has a fifty day moving average price of $281.65 and a 200-day moving average price of $263.18.

FLEETCOR Technologies (NYSE:FLT – Get Free Report) last released its quarterly earnings results on Wednesday, February 7th. The business services provider reported $4.44 EPS for the quarter, missing the consensus estimate of $4.48 by ($0.04). The company had revenue of $937.32 million during the quarter, compared to the consensus estimate of $967.01 million. FLEETCOR Technologies had a return on equity of 37.56% and a net margin of 26.13%. The company’s revenue was up 6.1% on a year-over-year basis. During the same period in the previous year, the firm posted $3.83 earnings per share. As a group, equities research analysts anticipate that FLEETCOR Technologies, Inc. will post 18.21 earnings per share for the current fiscal year.

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.

Further Reading

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

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