Birch Capital Management LLC Has $700,000 Stock Position in FLEETCOR Technologies, Inc. (NYSE:FLT)


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Birch Capital Management LLC lowered its stake in FLEETCOR Technologies, Inc. (NYSE:FLT) by 5.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,604 shares of the business services provider’s stock after selling 136 shares during the period. Birch Capital Management LLC’s holdings in FLEETCOR Technologies were worth $700,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Penserra Capital Management LLC lifted 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 worth $47,000 after purchasing an additional 38 shares during the period. Nissay Asset Management Corp Japan ADV lifted its holdings in shares of FLEETCOR Technologies by 0.5% during the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 8,659 shares of the business services provider’s stock worth $2,362,000 after purchasing an additional 42 shares during the period. Dupont Capital Management Corp lifted its holdings in shares of FLEETCOR Technologies by 1.4% during the fourth quarter. Dupont Capital Management Corp now owns 3,155 shares of the business services provider’s stock worth $861,000 after purchasing an additional 43 shares during the period. IFP Advisors Inc lifted its holdings in shares of FLEETCOR Technologies by 25.0% during the fourth quarter. IFP Advisors Inc now owns 215 shares of the business services provider’s stock worth $60,000 after purchasing an additional 43 shares during the period. Finally, First Horizon Advisors Inc. lifted its holdings in shares of FLEETCOR Technologies by 2.9% during the fourth quarter. First Horizon Advisors Inc. now owns 1,647 shares of the business services provider’s stock worth $449,000 after purchasing an additional 47 shares during the period. Hedge funds and other institutional investors own 94.30% of the company’s stock.

FLT traded up $1.13 during midday trading on Thursday, reaching $282.40. The company had a trading volume of 1,016 shares, compared to its average volume of 620,674. The business has a 50-day moving average price of $279.52 and a two-hundred day moving average price of $262.74. FLEETCOR Technologies, Inc. has a 12-month low of $203.18 and a 12-month high of $292.70. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.95 and a current ratio of 0.95. The stock has a market cap of $23.56 billion, a PE ratio of 33.93, a P/E/G ratio of 2.49 and a beta of 1.50.

FLEETCOR Technologies (NYSE:FLT) last posted its quarterly earnings results on Thursday, February 4th. The business services provider reported $3.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.81 by $0.20. FLEETCOR Technologies had a net margin of 29.55% and a return on equity of 30.65%. The company had revenue of $617.33 million for the quarter, compared to analyst estimates of $603.81 million. During the same quarter in the previous year, the firm posted $3.17 earnings per share. On average, research analysts anticipate that FLEETCOR Technologies, Inc. will post 10.46 earnings per share for the current year.

A number of brokerages have recently commented on FLT. Barclays lifted their price target on shares of FLEETCOR Technologies from $292.00 to $310.00 and gave the stock an “overweight” rating in a report on Monday, February 8th. Bank of America raised shares of FLEETCOR Technologies from a “neutral” rating to a “buy” rating in a research note on Wednesday, January 6th. Credit Suisse Group lifted their target price on shares of FLEETCOR Technologies from $240.00 to $270.00 and gave the stock a “neutral” rating in a research note on Friday, February 5th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell raised shares of FLEETCOR Technologies from a “neutral” rating to a “buy” rating and set a $310.00 target price for the company in a research note on Thursday, April 1st. Finally, Susquehanna Bancshares lifted their target price on shares of FLEETCOR Technologies from $305.00 to $350.00 and gave the stock a “positive” rating in a research note on Thursday, April 1st. One research analyst has rated the stock with a sell rating, four have given a hold rating and seventeen have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $292.65.

FLEETCOR Technologies Company Profile

FLEETCOR Technologies, Inc operates as a business payments company that simplifies the way businesses manage and pay expenses. The company's portfolio of brands help companies automate, secure, digitize, and control payments on behalf of employees and suppliers. It offers payment solutions in five primary categories, including fuel, lodging, tolls, corporate payments, and gift.

Further Reading: Neutral Rating

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

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