Segantii Capital Management Ltd Continues to Hold Position in FleetCor Technologies, Inc. (NYSE:FLT)
Segantii Capital Management Ltd maintained its stake in FleetCor Technologies, Inc. (NYSE:FLT) during the second quarter, Holdings Channel reports. The firm owned 10,800 shares of the business services provider’s stock at the end of the second quarter. Segantii Capital Management Ltd’s holdings in FleetCor Technologies were worth $1,557,000 as of its most recent filing with the SEC.
A number of other large investors have also bought and sold shares of FLT. CWM LLC acquired a new stake in FleetCor Technologies during the first quarter valued at approximately $4,155,000. Russell Investments Group Ltd. increased its stake in FleetCor Technologies by 5.9% in the first quarter. Russell Investments Group Ltd. now owns 390,775 shares of the business services provider’s stock valued at $59,173,000 after buying an additional 21,727 shares in the last quarter. US Bancorp DE increased its stake in FleetCor Technologies by 4.6% in the first quarter. US Bancorp DE now owns 12,267 shares of the business services provider’s stock valued at $1,858,000 after buying an additional 540 shares in the last quarter. Morgan Stanley increased its stake in FleetCor Technologies by 522.4% in the first quarter. Morgan Stanley now owns 517,598 shares of the business services provider’s stock valued at $78,381,000 after buying an additional 434,443 shares in the last quarter. Finally, Delta Lloyd NV increased its stake in FleetCor Technologies by 48.1% in the first quarter. Delta Lloyd NV now owns 9,049 shares of the business services provider’s stock valued at $1,277,000 after buying an additional 2,940 shares in the last quarter. Institutional investors and hedge funds own 93.82% of the company’s stock.
Shares of FleetCor Technologies, Inc. (NYSE FLT) opened at 140.23 on Thursday. The stock has a 50 day moving average of $147.15 and a 200 day moving average of $149.51. FleetCor Technologies, Inc. has a 1-year low of $121.52 and a 1-year high of $176.42. The company has a market cap of $12.88 billion, a price-to-earnings ratio of 27.72 and a beta of 1.45.
FleetCor Technologies (NYSE:FLT) last released its quarterly earnings data on Thursday, August 3rd. The business services provider reported $1.83 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.83. The firm had revenue of $541.24 million during the quarter, compared to analyst estimates of $528.33 million. FleetCor Technologies had a return on equity of 21.20% and a net margin of 23.28%. The business’s quarterly revenue was up 29.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.56 earnings per share. Analysts predict that FleetCor Technologies, Inc. will post $8.37 EPS for the current year.
FleetCor Technologies announced that its board has authorized a share repurchase plan on Thursday, August 3rd that authorizes the company to buyback $250.00 million in shares. This buyback authorization authorizes the business services provider to reacquire up to 1.8% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s board believes its stock is undervalued.
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Several equities research analysts recently commented on FLT shares. Zacks Investment Research downgraded shares of FleetCor Technologies from a “hold” rating to a “sell” rating in a research report on Friday, April 28th. Raymond James Financial, Inc. upgraded shares of FleetCor Technologies from an “outperform” rating to a “strong-buy” rating and set a $180.00 target price on the stock in a research report on Tuesday, May 2nd. Jefferies Group LLC reiterated a “buy” rating and set a $197.00 target price on shares of FleetCor Technologies in a research report on Tuesday, May 2nd. Compass Point upgraded shares of FleetCor Technologies from a “neutral” rating to a “buy” rating and set a $170.00 target price on the stock in a research report on Wednesday, May 3rd. Finally, Citigroup Inc. set a $165.00 target price on shares of FleetCor Technologies and gave the stock a “buy” rating in a research report on Thursday, May 4th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $180.86.
About FleetCor Technologies
FleetCor Technologies, Inc is a provider of workforce payment products. The Company offers fuel card payments product solutions, corporate payments products, toll products, lodging cards and gift cards. The Company operates through two segments: North America and International. Its products are sold to businesses, retailers, oil companies and marketers and government entities.
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