First Republic Investment Management Inc. boosted its position in shares of FleetCor Technologies, Inc. (NYSE:FLT) by 19.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,243 shares of the business services provider’s stock after acquiring an additional 2,020 shares during the period. First Republic Investment Management Inc.’s holdings in FleetCor Technologies were worth $2,579,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of FLT. BlackRock Inc. grew its stake in shares of FleetCor Technologies by 20.2% in the 2nd quarter. BlackRock Inc. now owns 7,464,198 shares of the business services provider’s stock valued at $1,572,333,000 after purchasing an additional 1,254,098 shares during the period. Jennison Associates LLC grew its stake in shares of FleetCor Technologies by 14.4% in the 2nd quarter. Jennison Associates LLC now owns 4,598,370 shares of the business services provider’s stock valued at $968,647,000 after purchasing an additional 577,206 shares during the period. Bank of New York Mellon Corp grew its stake in shares of FleetCor Technologies by 146.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 892,986 shares of the business services provider’s stock valued at $188,107,000 after purchasing an additional 530,211 shares during the period. Schwab Charles Investment Management Inc. grew its stake in shares of FleetCor Technologies by 66.6% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 363,719 shares of the business services provider’s stock valued at $76,618,000 after purchasing an additional 145,348 shares during the period. Finally, Janus Henderson Group PLC grew its stake in shares of FleetCor Technologies by 33.0% in the 2nd quarter. Janus Henderson Group PLC now owns 569,409 shares of the business services provider’s stock valued at $119,952,000 after purchasing an additional 141,331 shares during the period. Hedge funds and other institutional investors own 98.18% of the company’s stock.

FLT has been the topic of several analyst reports. Citigroup upped their price objective on FleetCor Technologies from $240.00 to $260.00 and gave the company a “buy” rating in a research note on Friday, July 20th. Zacks Investment Research lowered FleetCor Technologies from a “buy” rating to a “sell” rating in a research note on Tuesday, July 10th. Wolfe Research assumed coverage on FleetCor Technologies in a research note on Tuesday, July 17th. They issued an “outperform” rating on the stock. Finally, Morgan Stanley boosted their target price on FleetCor Technologies from $238.00 to $240.00 and gave the stock a “buy” rating in a report on Friday, August 3rd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have given a buy rating to the stock. FleetCor Technologies has a consensus rating of “Buy” and an average target price of $230.80.

Shares of FLT opened at $221.08 on Monday. The company has a market capitalization of $19.53 billion, a PE ratio of 24.50, a price-to-earnings-growth ratio of 1.36 and a beta of 1.48. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.88 and a current ratio of 0.88. FleetCor Technologies, Inc. has a one year low of $144.12 and a one year high of $225.92.

FleetCor Technologies (NYSE:FLT) last announced its earnings results on Thursday, August 2nd. The business services provider reported $2.57 EPS for the quarter, topping the consensus estimate of $2.52 by $0.05. The business had revenue of $585.00 million for the quarter, compared to the consensus estimate of $596.27 million. FleetCor Technologies had a return on equity of 23.23% and a net margin of 35.50%. FleetCor Technologies’s revenue was up 8.1% compared to the same quarter last year. During the same period in the previous year, the business earned $1.99 EPS. sell-side analysts expect that FleetCor Technologies, Inc. will post 9.84 EPS for the current fiscal year.

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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