FLEETCOR Technologies, Inc. (NYSE:FLT – Get Free Report) was the recipient of a large growth in short interest during the month of December. As of December 15th, there was short interest totalling 941,400 shares, a growth of 27.0% from the November 30th total of 741,200 shares. Based on an average daily volume of 498,700 shares, the short-interest ratio is currently 1.9 days. Currently, 1.4% of the shares of the stock are sold short.
Institutional Trading of FLEETCOR Technologies
Institutional investors have recently made changes to their positions in the business. Price T Rowe Associates Inc. MD raised its position 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 valued at $693,824,000 after purchasing an additional 1,551,830 shares during the period. Norges Bank acquired a new stake in FLEETCOR Technologies during the fourth quarter worth about $135,367,000. Massachusetts Financial Services Co. MA grew its stake in FLEETCOR Technologies by 913.8% during the third quarter. Massachusetts Financial Services Co. MA now owns 540,425 shares of the business services provider’s stock worth $137,992,000 after buying an additional 487,116 shares in the last quarter. Bank of Montreal Can acquired a new stake in FLEETCOR Technologies during the second quarter worth about $72,100,000. Finally, Mizuho Markets Americas LLC acquired a new stake in FLEETCOR Technologies during the third quarter worth about $70,946,000. Institutional investors own 94.93% of the company’s stock.
FLEETCOR Technologies Stock Up 0.1 %
Shares of FLEETCOR Technologies stock traded up $0.15 on Friday, hitting $282.61. The company had a trading volume of 350,853 shares, compared to its average volume of 548,274. The firm has a market capitalization of $20.40 billion, a P/E ratio of 22.17, a P/E/G ratio of 1.45 and a beta of 1.19. FLEETCOR Technologies has a twelve month low of $179.21 and a twelve month high of $284.39. The company has a debt-to-equity ratio of 1.52, a current ratio of 1.02 and a quick ratio of 1.02. The stock has a 50-day moving average of $247.77 and a 200-day moving average of $253.98.
FLEETCOR Technologies (NYSE:FLT – Get Free Report) last released its quarterly earnings results on Wednesday, November 8th. The business services provider reported $4.49 earnings per share for the quarter, beating the consensus estimate of $4.19 by $0.30. The company had revenue of $970.89 million during the quarter, compared to analysts’ expectations of $973.87 million. FLEETCOR Technologies had a net margin of 25.68% and a return on equity of 39.20%. The business’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.91 earnings per share. Research analysts predict that FLEETCOR Technologies will post 15.76 earnings per share for the current year.
Wall Street Analyst Weigh In
A number of equities analysts have weighed in on FLT shares. Raymond James boosted their target price on shares of FLEETCOR Technologies from $277.00 to $281.00 and gave the stock an “outperform” rating in a research note on Friday, November 10th. BMO Capital Markets initiated coverage on shares of FLEETCOR Technologies in a research report on Tuesday, December 5th. They set an “outperform” rating and a $300.00 price target for the company. Truist Financial lifted their price target on shares of FLEETCOR Technologies from $305.00 to $315.00 and gave the stock a “buy” rating in a research report on Wednesday, September 13th. TheStreet cut shares of FLEETCOR Technologies from a “b” rating to a “c+” rating in a research report on Wednesday, November 8th. Finally, UBS Group reiterated a “neutral” rating and set a $280.00 price target on shares of FLEETCOR Technologies in a research report on Friday, October 20th. Seven analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $284.19.
About FLEETCOR Technologies
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.