Dimensional Fund Advisors LP Boosts Stock Position in FLEETCOR Technologies, Inc. (NYSE:FLT)

Dimensional Fund Advisors LP grew its holdings in FLEETCOR Technologies, Inc. (NYSE:FLT) by 1.2% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 556,888 shares of the business services provider’s stock after buying an additional 6,573 shares during the quarter. Dimensional Fund Advisors LP owned 0.75% of FLEETCOR Technologies worth $139,819,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Price T Rowe Associates Inc. MD boosted its stake in shares of FLEETCOR Technologies by 89.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,290,599 shares of the business services provider’s stock worth $693,824,000 after acquiring an additional 1,551,830 shares during the last quarter. Boston Partners boosted its stake in shares of FLEETCOR Technologies by 33.7% in the first quarter. Boston Partners now owns 3,071,810 shares of the business services provider’s stock worth $647,947,000 after acquiring an additional 774,730 shares during the last quarter. Norges Bank acquired a new stake in shares of FLEETCOR Technologies in the fourth quarter worth approximately $135,367,000. FMR LLC boosted its stake in FLEETCOR Technologies by 110.5% during the first quarter. FMR LLC now owns 1,253,697 shares of the business services provider’s stock worth $264,342,000 after buying an additional 658,130 shares during the last quarter. Finally, Mizuho Markets Cayman LP acquired a new position in FLEETCOR Technologies during the first quarter worth $118,537,000. 94.93% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Robert W. Baird lowered FLEETCOR Technologies from an “outperform” rating to a “neutral” rating and boosted their price objective for the stock from $275.00 to $302.00 in a research note on Wednesday, October 11th. Barclays boosted their price objective on FLEETCOR Technologies from $270.00 to $322.00 and gave the stock an “overweight” rating in a research note on Monday, August 14th. Royal Bank of Canada reduced their target price on FLEETCOR Technologies from $277.00 to $270.00 and set a “sector perform” rating on the stock in a research report on Thursday, November 9th. Truist Financial lifted their target price on FLEETCOR Technologies from $305.00 to $315.00 and gave the company a “buy” rating in a research report on Wednesday, September 13th. Finally, Raymond James lifted their target price on FLEETCOR Technologies from $277.00 to $281.00 and gave the company an “outperform” rating in a research report on Friday, November 10th. Six equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $282.27.

FLEETCOR Technologies Price Performance

Shares of NYSE FLT opened at $235.30 on Tuesday. The stock’s 50-day moving average is $248.04 and its two-hundred day moving average is $248.78. The company has a debt-to-equity ratio of 1.52, a current ratio of 1.02 and a quick ratio of 1.02. FLEETCOR Technologies, Inc. has a 1-year low of $175.08 and a 1-year high of $278.35. The company has a market cap of $16.99 billion, a price-to-earnings ratio of 18.45, a price-to-earnings-growth ratio of 1.21 and a beta of 1.20.

FLEETCOR Technologies (NYSE:FLT) last issued its quarterly earnings results on Wednesday, November 8th. The business services provider reported $4.49 earnings per share for the quarter, topping the consensus estimate of $4.19 by $0.30. FLEETCOR Technologies had a return on equity of 39.20% and a net margin of 25.68%. The company had revenue of $970.89 million for the quarter, compared to the consensus estimate of $973.87 million. During the same quarter in the prior year, the business earned $3.91 EPS. FLEETCOR Technologies’s revenue was up 8.7% on a year-over-year basis. Analysts forecast that FLEETCOR Technologies, Inc. will post 15.75 EPS for the current fiscal year.

FLEETCOR Technologies Company Profile

FLEETCOR Technologies, Inc, a business payments company that helps businesses spend less by enabling them to manage their expense-related purchasing and vendor payments processes. 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 vendors, foreign office and personnel expenses, capital expenditures, and profit repatriation and dividends; and purchasing cards and travel and entertainment cards for its customers to analyze and manage their corporate spending.