State of Wisconsin Investment Board raised its holdings in shares of FLEETCOR Technologies, Inc. (NYSE:FLT) by 7.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 232,051 shares of the business services provider’s stock after purchasing an additional 15,624 shares during the period. State of Wisconsin Investment Board owned 0.28% of FLEETCOR Technologies worth $62,336,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of FLT. Certified Advisory Corp acquired a new position in shares of FLEETCOR Technologies during the first quarter worth $27,000. Tompkins Financial Corp purchased a new stake in shares of FLEETCOR Technologies during the fourth quarter valued at $29,000. Wealthcare Advisory Partners LLC purchased a new stake in shares of FLEETCOR Technologies during the first quarter valued at $34,000. Childress Capital Advisors LLC purchased a new stake in shares of FLEETCOR Technologies during the fourth quarter valued at $46,000. Finally, Penserra Capital Management LLC grew its holdings in shares of FLEETCOR Technologies by 27.9% during the fourth quarter. Penserra Capital Management LLC now owns 174 shares of the business services provider’s stock valued at $47,000 after buying an additional 38 shares during the last quarter. 90.59% of the stock is currently owned by institutional investors and hedge funds.
FLT stock opened at $254.83 on Thursday. The firm has a market cap of $21.24 billion, a P/E ratio of 23.91, a price-to-earnings-growth ratio of 1.33 and a beta of 1.44. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.99 and a current ratio of 0.99. FLEETCOR Technologies, Inc. has a 12 month low of $214.88 and a 12 month high of $295.36. The company has a 50-day simple moving average of $264.42.
A number of brokerages have recently weighed in on FLT. Barclays boosted their price objective on shares of FLEETCOR Technologies from $310.00 to $321.00 and gave the company an “overweight” rating in a report on Monday, May 10th. Susquehanna Bancshares upped their price target on shares of FLEETCOR Technologies from $305.00 to $350.00 and gave the company a “positive” rating in a report on Thursday, April 1st. Morgan Stanley upped their price target on shares of FLEETCOR Technologies from $267.00 to $275.00 and gave the company an “equal weight” rating in a report on Thursday, July 8th. Susquehanna upped their price target on shares of FLEETCOR Technologies from $305.00 to $350.00 and gave the company a “positive” rating in a report on Thursday, April 1st. Finally, Credit Suisse Group initiated coverage on shares of FLEETCOR Technologies in a report on Tuesday, July 6th. They issued a “hold” rating and a $270.00 price target on the stock. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. FLEETCOR Technologies currently has an average rating of “Buy” and an average price target of $310.00.
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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