CIBC World Markets Inc. Reduces Stock Holdings in FLEETCOR Technologies, Inc. (NYSE:FLT)

CIBC World Markets Inc. reduced its stake in shares of FLEETCOR Technologies, Inc. (NYSE:FLT) by 8.1% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 8,598 shares of the business services provider’s stock after selling 756 shares during the quarter. CIBC World Markets Inc.’s holdings in FLEETCOR Technologies were worth $2,310,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. Certified Advisory Corp purchased a new stake in shares of FLEETCOR Technologies during the 1st quarter valued at about $27,000. Ellevest Inc. raised its holdings in shares of FLEETCOR Technologies by 138.3% during the 4th quarter. Ellevest Inc. now owns 112 shares of the business services provider’s stock valued at $31,000 after buying an additional 65 shares during the period. Leverage Partners Absolute Return Fund SPC purchased a new stake in FLEETCOR Technologies during the 4th quarter worth approximately $327,000. Wealthcare Advisory Partners LLC purchased a new stake in FLEETCOR Technologies during the 1st quarter worth approximately $34,000. Finally, Regent Peak Wealth Advisors LLC purchased a new stake in FLEETCOR Technologies during the 4th quarter worth approximately $41,000. Institutional investors and hedge funds own 90.79% of the company’s stock.

Shares of FLT stock opened at $271.42 on Friday. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.93. FLEETCOR Technologies, Inc. has a 1 year low of $214.88 and a 1 year high of $295.36. The stock’s fifty day simple moving average is $280.61. The firm has a market cap of $22.62 billion, a price-to-earnings ratio of 31.52, a PEG ratio of 1.45 and a beta of 1.45.

FLEETCOR Technologies (NYSE:FLT) last announced its quarterly earnings results on Wednesday, May 5th. The business services provider reported $2.66 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.56 by $0.10. FLEETCOR Technologies had a return on equity of 28.76% and a net margin of 31.73%. The company had revenue of $608.62 million during the quarter, compared to analyst estimates of $605.61 million. As a group, analysts predict that FLEETCOR Technologies, Inc. will post 11.75 EPS for the current year.

Several equities research analysts have issued reports on FLT shares. Susquehanna lifted their price objective on FLEETCOR Technologies from $305.00 to $350.00 and gave the stock a “positive” rating in a report on Thursday, April 1st. Wells Fargo & Company lifted their price objective on FLEETCOR Technologies from $290.00 to $320.00 and gave the stock an “overweight” rating in a report on Thursday, May 6th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell lifted their price objective on FLEETCOR Technologies from $310.00 to $335.00 in a report on Friday, May 7th. Barclays lifted their price objective on FLEETCOR Technologies from $310.00 to $321.00 and gave the stock an “overweight” rating in a report on Monday, May 10th. Finally, Mizuho lifted their target price on FLEETCOR Technologies from $245.00 to $280.00 and gave the stock a “neutral” rating in a research report on Monday, May 10th. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $308.07.

About FLEETCOR Technologies

FLEETCOR Technologies, Inc provides digital payment solutions for businesses to control purchases and make payments. It offers corporate payments solutions, such as accounts payable automation; Virtual Card, which provides a single-use card number for a specific amount usable within a defined timeframe; Cross-Border that is used by its customers to pay international suppliers, foreign office and personnel expenses, capital expenditures, and profit repatriation and dividends; and purchasing cards and travel and entertainment cards for its customers to analyse and manage their corporate spending.

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

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