Gluskin Sheff & Assoc Inc. bought a new stake in FleetCor Technologies, Inc. (NYSE:FLT) during the first quarter, HoldingsChannel.com reports. The fund bought 65,866 shares of the business services provider’s stock, valued at approximately $13,338,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Commonwealth Equity Services LLC raised its stake in FleetCor Technologies by 27.4% in the first quarter. Commonwealth Equity Services LLC now owns 2,786 shares of the business services provider’s stock valued at $564,000 after purchasing an additional 600 shares in the last quarter. Echo Street Capital Management LLC raised its stake in shares of FleetCor Technologies by 0.6% during the first quarter. Echo Street Capital Management LLC now owns 660,247 shares of the business services provider’s stock worth $133,700,000 after acquiring an additional 3,638 shares in the last quarter. Bloom Tree Partners LLC raised its stake in shares of FleetCor Technologies by 13.1% during the first quarter. Bloom Tree Partners LLC now owns 233,424 shares of the business services provider’s stock worth $47,268,000 after acquiring an additional 27,086 shares in the last quarter. Gideon Capital Advisors Inc. purchased a new position in shares of FleetCor Technologies during the first quarter worth approximately $387,000. Finally, Principal Financial Group Inc. raised its stake in shares of FleetCor Technologies by 14.5% during the first quarter. Principal Financial Group Inc. now owns 14,700 shares of the business services provider’s stock worth $2,976,000 after acquiring an additional 1,864 shares in the last quarter. 92.49% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE FLT opened at $207.51 on Thursday. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.74. FleetCor Technologies, Inc. has a 52 week low of $138.43 and a 52 week high of $213.74. The firm has a market capitalization of $18.30 billion, a P/E ratio of 26.33, a PEG ratio of 1.27 and a beta of 1.42.

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

Several research analysts have commented on the stock. Credit Suisse Group lifted their price target on shares of FleetCor Technologies from $209.00 to $211.00 and gave the stock a “neutral” rating in a research note on Friday, February 9th. Keefe, Bruyette & Woods reissued a “buy” rating and set a $236.00 price target on shares of FleetCor Technologies in a research note on Thursday, February 8th. Zacks Investment Research raised shares of FleetCor Technologies from a “hold” rating to a “buy” rating and set a $228.00 price target on the stock in a research note on Thursday, February 8th. Morgan Stanley reissued a “buy” rating and set a $235.00 price target (up from $232.00) on shares of FleetCor Technologies in a research note on Wednesday, March 14th. Finally, ValuEngine raised shares of FleetCor Technologies from a “hold” rating to a “buy” rating in a research note on Wednesday, May 2nd. Two research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. FleetCor Technologies presently has a consensus rating of “Buy” and an average price target of $222.09.

About FleetCor Technologies

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.

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

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