FLEETCOR Technologies (NYSE:FLT – Get Rating) had its price objective trimmed by Robert W. Baird from $250.00 to $220.00 in a research report report published on Monday, The Fly reports. The brokerage currently has a neutral rating on the business services provider's stock.
A number of other analysts have also recently issued reports on FLT. Mizuho increased their price objective on shares of FLEETCOR Technologies from $250.00 to $256.00 and gave the stock a neutral rating in a research note on Tuesday, August 9th. Truist Financial reduced their price objective on shares of FLEETCOR Technologies from $290.00 to $275.00 and set a buy rating for the company in a research note on Thursday, June 30th. Morgan Stanley reduced their price objective on shares of FLEETCOR Technologies from $268.00 to $254.00 and set an equal weight rating for the company in a research note on Thursday, August 4th. Evercore ISI restated an outperform rating and set a $300.00 target price on shares of FLEETCOR Technologies in a research report on Thursday, June 2nd. Finally, Wells Fargo & Company dropped their target price on shares of FLEETCOR Technologies from $298.00 to $274.00 and set an overweight rating for the company in a research report on Thursday, September 8th. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of Hold and a consensus price target of $275.90.
Get FLEETCOR Technologies alerts:FLEETCOR Technologies Stock Up 0.8 %
Shares of FLT stock opened at $181.09 on Monday. The company has a 50 day simple moving average of $214.93 and a two-hundred day simple moving average of $228.02. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 1.77. The stock has a market cap of $13.58 billion, a P/E ratio of 15.56, a P/E/G ratio of 0.84 and a beta of 1.21. FLEETCOR Technologies has a 12 month low of $173.34 and a 12 month high of $282.02.
Insider Activity
In related news, insider Alan King sold 1,379 shares of the firm's stock in a transaction dated Monday, September 12th. The shares were sold at an average price of $223.38, for a total value of $308,041.02. Following the transaction, the insider now owns 9,250 shares of the company's stock, valued at approximately $2,066,265. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 6.60% of the company's stock.Institutional Inflows and Outflows
Several institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in FLEETCOR Technologies by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 8,624,531 shares of the business services provider's stock valued at $2,148,025,000 after purchasing an additional 111,367 shares during the period. BlackRock Inc. increased its position in FLEETCOR Technologies by 3.5% during the 1st quarter. BlackRock Inc. now owns 6,118,876 shares of the business services provider's stock valued at $1,523,967,000 after purchasing an additional 207,098 shares during the period. Price T Rowe Associates Inc. MD increased its position in FLEETCOR Technologies by 16.3% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 5,528,923 shares of the business services provider's stock valued at $1,161,682,000 after purchasing an additional 775,047 shares during the period. Wellington Management Group LLP increased its position in FLEETCOR Technologies by 5.0% during the 1st quarter. Wellington Management Group LLP now owns 4,836,861 shares of the business services provider's stock valued at $1,204,669,000 after purchasing an additional 228,606 shares during the period. Finally, JPMorgan Chase & Co. increased its position in FLEETCOR Technologies by 2.2% during the 1st quarter. JPMorgan Chase & Co. now owns 4,116,029 shares of the business services provider's stock valued at $1,025,138,000 after purchasing an additional 89,065 shares during the period. Hedge funds and other institutional investors own 91.52% of the company's stock.
FLEETCOR Technologies Company Profile
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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 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.
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