M&T Bank Corp Buys 545 Shares of FleetCor Technologies, Inc. (FLT)

M&T Bank Corp boosted its stake in FleetCor Technologies, Inc. (NYSE:FLT) by 1.6% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 33,743 shares of the business services provider’s stock after acquiring an additional 545 shares during the period. M&T Bank Corp’s holdings in FleetCor Technologies were worth $6,494,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of FLT. Ameriprise Financial Inc. increased its position in FleetCor Technologies by 31.2% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,701,521 shares of the business services provider’s stock valued at $263,344,000 after acquiring an additional 404,670 shares during the period. Wells Fargo & Company MN increased its position in FleetCor Technologies by 128.8% in the 3rd quarter. Wells Fargo & Company MN now owns 598,702 shares of the business services provider’s stock valued at $92,661,000 after acquiring an additional 337,073 shares during the period. Atlantic Trust Group LLC increased its position in FleetCor Technologies by 376.1% in the 3rd quarter. Atlantic Trust Group LLC now owns 381,740 shares of the business services provider’s stock valued at $59,083,000 after acquiring an additional 301,558 shares during the period. Montag & Caldwell LLC increased its position in FleetCor Technologies by 62.2% in the 4th quarter. Montag & Caldwell LLC now owns 423,629 shares of the business services provider’s stock valued at $81,519,000 after acquiring an additional 162,464 shares during the period. Finally, Kensico Capital Management Corp increased its position in FleetCor Technologies by 52.5% in the 3rd quarter. Kensico Capital Management Corp now owns 450,000 shares of the business services provider’s stock valued at $69,647,000 after acquiring an additional 155,000 shares during the period. Hedge funds and other institutional investors own 95.38% of the company’s stock.

Shares of FleetCor Technologies, Inc. (NYSE:FLT) opened at $192.69 on Tuesday. The company has a market capitalization of $17,055.57, a P/E ratio of 24.25, a PEG ratio of 1.23 and a beta of 1.52. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.84 and a current ratio of 0.84. FleetCor Technologies, Inc. has a 52 week low of $121.52 and a 52 week high of $213.74.

FleetCor Technologies (NYSE:FLT) last announced its quarterly earnings results on Thursday, February 8th. The business services provider reported $2.42 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.33 by $0.09. The business had revenue of $610.00 million for the quarter, compared to analyst estimates of $605.87 million. FleetCor Technologies had a return on equity of 21.59% and a net margin of 32.90%. The company’s quarterly revenue was up 18.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.90 EPS. research analysts expect that FleetCor Technologies, Inc. will post 9.39 earnings per share for the current fiscal year.

Several equities analysts recently issued reports on the company. Keefe, Bruyette & Woods restated a “buy” rating and issued a $236.00 price target on shares of FleetCor Technologies in a research report on Thursday, February 8th. SunTrust Banks set a $240.00 price target on FleetCor Technologies and gave the company a “buy” rating in a research report on Monday, February 5th. Oppenheimer boosted their price target on FleetCor Technologies from $194.00 to $247.00 and gave the company an “outperform” rating in a research report on Monday, February 5th. Credit Suisse Group boosted their price target on FleetCor Technologies from $209.00 to $211.00 and gave the company a “neutral” rating in a research report on Friday. Finally, Wells Fargo & Co set a $225.00 price objective on FleetCor Technologies and gave the company a “buy” rating in a report on Wednesday, January 10th. Two research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. FleetCor Technologies currently has an average rating of “Buy” and an average target price of $209.21.

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About FleetCor Technologies

FleetCor Technologies, Inc is a provider of workforce payment products. The Company offers fuel card payments product solutions, corporate payments products, toll products, lodging cards and gift cards. The Company operates through two segments: North America and International. Its products are sold to businesses, retailers, oil companies and marketers and government entities.

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

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