ETRADE Capital Management LLC Raises Position in Fleetcor (FLT)

ETRADE Capital Management LLC boosted its holdings in shares of Fleetcor (NYSE:FLT) by 32.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,201 shares of the business services provider’s stock after buying an additional 538 shares during the quarter. ETRADE Capital Management LLC’s holdings in Fleetcor were worth $446,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. First Personal Financial Services increased its holdings in Fleetcor by 31.4% during the fourth quarter. First Personal Financial Services now owns 1,020 shares of the business services provider’s stock valued at $196,000 after buying an additional 244 shares during the period. Hennessy Advisors Inc. grew its holdings in Fleetcor by 7.3% in the first quarter. Hennessy Advisors Inc. now owns 4,720 shares of the business services provider’s stock worth $956,000 after purchasing an additional 320 shares during the last quarter. Alliancebernstein L.P. grew its holdings in Fleetcor by 0.6% in the fourth quarter. Alliancebernstein L.P. now owns 61,216 shares of the business services provider’s stock worth $11,780,000 after purchasing an additional 381 shares during the last quarter. Gradient Investments LLC grew its holdings in Fleetcor by 21.9% in the fourth quarter. Gradient Investments LLC now owns 2,668 shares of the business services provider’s stock worth $513,000 after purchasing an additional 479 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado grew its holdings in Fleetcor by 2.8% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 17,940 shares of the business services provider’s stock worth $3,452,000 after purchasing an additional 484 shares during the last quarter. 92.85% of the stock is currently owned by institutional investors.

FLT has been the topic of several analyst reports. Morgan Stanley reaffirmed a “buy” rating and issued a $235.00 price target (up from $232.00) on shares of Fleetcor in a report on Wednesday, March 14th. ValuEngine raised shares of Fleetcor from a “hold” rating to a “buy” rating in a report on Wednesday, May 2nd. Zacks Investment Research raised shares of Fleetcor from a “sell” rating to a “buy” rating and set a $224.00 price target on the stock in a report on Wednesday, April 11th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $236.00 price target on shares of Fleetcor in a report on Thursday, February 8th. Finally, SunTrust Banks set a $240.00 price target on shares of Fleetcor and gave the stock a “buy” rating in a report on Monday, February 5th. Two research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Fleetcor has an average rating of “Buy” and a consensus target price of $222.09.

Shares of FLT opened at $203.53 on Tuesday. The firm has a market cap of $18.33 billion, a PE ratio of 25.83, a P/E/G ratio of 1.27 and a beta of 1.46. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.91 and a current ratio of 0.91. Fleetcor has a 1-year low of $135.28 and a 1-year high of $213.74.

Fleetcor (NYSE:FLT) last announced its quarterly earnings data on Thursday, May 3rd. The business services provider reported $2.50 earnings per share for the quarter, beating analysts’ consensus estimates of $2.37 by $0.13. The firm had revenue of $585.50 million for the quarter, compared to analyst estimates of $602.46 million. Fleetcor had a net margin of 34.19% and a return on equity of 21.87%. The business’s quarterly revenue was up 12.5% compared to the same quarter last year. During the same period in the previous year, the company earned $1.96 earnings per share. sell-side analysts anticipate that Fleetcor will post 9.78 EPS for the current fiscal year.

About Fleetcor

FleetCor Technologies, Inc provides commercial payment solutions in North America, Latin America, Europe, and Australasia. The company offers fuel payment solutions to businesses and government entities that operate vehicle fleets, as well as to oil and leasing companies, and fuel marketers. Its fuel payment products are in the form of plastic cards, electronic RFID tags, and paper vouchers to purchase fuel, oil, vehicle maintenance supplies and services, and building supplies.

Institutional Ownership by Quarter for Fleetcor (NYSE:FLT)

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