Nomura Holdings Inc. Trims Holdings in FleetCor Technologies, Inc. (FLT)
Nomura Holdings Inc. decreased its position in shares of FleetCor Technologies, Inc. (NYSE:FLT) by 42.3% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 13,669 shares of the business services provider’s stock after selling 10,040 shares during the quarter. Nomura Holdings Inc.’s holdings in FleetCor Technologies were worth $1,973,000 as of its most recent SEC filing.
A number of other large investors have also recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in FleetCor Technologies by 6.7% during the 2nd quarter. Vanguard Group Inc. now owns 7,565,263 shares of the business services provider’s stock worth $1,090,988,000 after buying an additional 474,254 shares in the last quarter. Capital Research Global Investors lifted its holdings in FleetCor Technologies by 156.8% during the 2nd quarter. Capital Research Global Investors now owns 5,377,010 shares of the business services provider’s stock worth $775,419,000 after buying an additional 3,283,010 shares in the last quarter. FMR LLC lifted its holdings in FleetCor Technologies by 50.4% during the 2nd quarter. FMR LLC now owns 3,979,648 shares of the business services provider’s stock worth $573,905,000 after buying an additional 1,334,164 shares in the last quarter. Tiger Global Management LLC lifted its holdings in FleetCor Technologies by 62.8% during the 2nd quarter. Tiger Global Management LLC now owns 2,278,774 shares of the business services provider’s stock worth $328,622,000 after buying an additional 879,049 shares in the last quarter. Finally, Steadfast Capital Management LP lifted its holdings in FleetCor Technologies by 251.4% during the 2nd quarter. Steadfast Capital Management LP now owns 2,049,719 shares of the business services provider’s stock worth $295,590,000 after buying an additional 1,466,464 shares in the last quarter. 97.61% of the stock is currently owned by hedge funds and other institutional investors.
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FleetCor Technologies, Inc. (FLT) opened at 160.62 on Friday. The firm has a market cap of $14.76 billion, a P/E ratio of 31.76 and a beta of 1.44. The stock has a 50 day moving average price of $151.06 and a 200-day moving average price of $145.97. FleetCor Technologies, Inc. has a 1-year low of $121.52 and a 1-year high of $176.42.
FleetCor Technologies (NYSE:FLT) last issued its quarterly earnings results on Thursday, August 3rd. The business services provider reported $1.83 EPS for the quarter, hitting analysts’ consensus estimates of $1.83. The company had revenue of $541.24 million for the quarter, compared to analyst estimates of $528.33 million. FleetCor Technologies had a net margin of 23.28% and a return on equity of 20.87%. FleetCor Technologies’s revenue was up 29.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.56 earnings per share. Equities research analysts forecast that FleetCor Technologies, Inc. will post $8.38 EPS for the current year.
FleetCor Technologies declared that its Board of Directors has approved a share repurchase program on Thursday, August 3rd that allows the company to buyback $250.00 million in outstanding shares. This buyback authorization allows the business services provider to reacquire up to 1.8% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.
In other news, CEO Andrew Blazye sold 4,963 shares of FleetCor Technologies stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $145.00, for a total transaction of $719,635.00. Following the transaction, the chief executive officer now owns 27,287 shares in the company, valued at $3,956,615. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In the last quarter, insiders have sold 15,758 shares of company stock worth $2,274,115. 4.30% of the stock is owned by company insiders.
Several research analysts have issued reports on the company. Zacks Investment Research raised FleetCor Technologies from a “hold” rating to a “buy” rating and set a $180.00 price objective on the stock in a report on Monday, October 9th. Oppenheimer Holdings, Inc. reaffirmed an “outperform” rating and set a $185.00 price objective on shares of FleetCor Technologies in a report on Tuesday, September 26th. Citigroup Inc. reaffirmed a “buy” rating and set a $180.00 price objective (up previously from $165.00) on shares of FleetCor Technologies in a report on Thursday, July 13th. William Blair reaffirmed an “outperform” rating on shares of FleetCor Technologies in a report on Wednesday, July 12th. Finally, Keefe, Bruyette & Woods set a $202.00 price objective on FleetCor Technologies and gave the stock a “buy” rating in a report on Monday, August 7th. One equities research analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. FleetCor Technologies currently has an average rating of “Buy” and a consensus target price of $181.33.
FleetCor Technologies Company Profile
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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