Empirical Finance LLC Buys 235 Shares of FLEETCOR Technologies, Inc. (NYSE:FLT)

Empirical Finance LLC boosted its stake in shares of FLEETCOR Technologies, Inc. (NYSE:FLT – Get Rating) by 24.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,205 shares of the business services provider’s stock after purchasing an additional 235 shares during the period. Empirical Finance LLC’s holdings in FLEETCOR Technologies were worth $270,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. Advisor Group Holdings Inc. lifted its position in FLEETCOR Technologies by 44.6% during the fourth quarter. Advisor Group Holdings Inc. now owns 10,229 shares of the business services provider’s stock valued at $2,291,000 after purchasing an additional 3,155 shares during the period. Los Angeles Capital Management LLC raised its position in FLEETCOR Technologies by 109.1% in the fourth quarter. Los Angeles Capital Management LLC now owns 72,686 shares of the business services provider’s stock worth $16,270,000 after acquiring an additional 37,923 shares during the period. Virginia Retirement Systems ET AL raised its position in FLEETCOR Technologies by 0.8% in the fourth quarter. Virginia Retirement Systems ET AL now owns 79,200 shares of the business services provider’s stock worth $17,728,000 after acquiring an additional 600 shares during the period. Daiwa Securities Group Inc. raised its position in FLEETCOR Technologies by 2.4% in the fourth quarter. Daiwa Securities Group Inc. now owns 4,660 shares of the business services provider’s stock worth $1,043,000 after acquiring an additional 107 shares during the period. Finally, Kalos Management Inc. raised its position in FLEETCOR Technologies by 2.0% in the fourth quarter. Kalos Management Inc. now owns 7,218 shares of the business services provider’s stock worth $1,785,000 after acquiring an additional 141 shares during the period. Institutional investors own 91.91% of the company’s stock.

Shares of FLT stock opened at $255.70 on Tuesday. FLEETCOR Technologies, Inc. has a 1 year low of $200.78 and a 1 year high of $295.36. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.04 and a quick ratio of 1.04. The stock’s 50 day simple moving average is $241.59 and its two-hundred day simple moving average is $238.92. The company has a market cap of $19.92 billion, a PE ratio of 25.60, a price-to-earnings-growth ratio of 1.12 and a beta of 1.31.

FLEETCOR Technologies (NYSE:FLT – Get Rating) last issued its quarterly earnings results on Tuesday, February 8th. The business services provider reported $3.47 earnings per share for the quarter, topping the consensus estimate of $3.33 by $0.14. FLEETCOR Technologies had a return on equity of 32.65% and a net margin of 29.63%. The firm had revenue of $802.26 million for the quarter, compared to the consensus estimate of $768.85 million. During the same period in the prior year, the business posted $2.92 earnings per share. The company’s revenue for the quarter was up 30.0% on a year-over-year basis. Equities research analysts expect that FLEETCOR Technologies, Inc. will post 14.45 EPS for the current year.

Several research analysts have weighed in on the stock. Morgan Stanley decreased their price target on shares of FLEETCOR Technologies from $275.00 to $265.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 9th. StockNews.com initiated coverage on shares of FLEETCOR Technologies in a research note on Thursday, March 31st. They issued a “hold” rating for the company. Mizuho increased their price target on FLEETCOR Technologies from $255.00 to $275.00 and gave the company a “neutral” rating in a research note on Wednesday, February 16th. Wells Fargo & Company initiated coverage on FLEETCOR Technologies in a research note on Monday, April 4th. They set an “overweight” rating and a $294.00 price target for the company. Finally, Barclays increased their price target on FLEETCOR Technologies from $306.00 to $312.00 and gave the company an “overweight” rating in a research note on Thursday, April 14th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $301.88.

FLEETCOR Technologies Profile (Get Rating)

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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