Sumitomo Mitsui DS Asset Management Company Ltd Reduces Position in FLEETCOR Technologies, Inc. (NYSE:FLT) – Defense World
Posted by admin on Jul 2nd, 2022 
Sumitomo Mitsui DS Asset Management Company Ltd lessened its stake in shares of FLEETCOR Technologies, Inc. (NYSE:FLT – Get Rating) by 1.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 5,398 shares of the business services provider’s stock after selling 64 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in FLEETCOR Technologies were worth $1,344,000 at the end of the most recent reporting period.
A number of other large investors also recently added to or reduced their stakes in FLT. Lindbrook Capital LLC grew its position in FLEETCOR Technologies by 73.5% during the 4th quarter. Lindbrook Capital LLC now owns 144 shares of the business services provider’s stock worth $32,000 after purchasing an additional 61 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new stake in shares of FLEETCOR Technologies in the 4th quarter valued at $45,000. FourThought Financial LLC purchased a new stake in shares of FLEETCOR Technologies in the 4th quarter valued at $58,000. National Bank of Canada FI purchased a new stake in shares of FLEETCOR Technologies in the 4th quarter valued at $58,000. Finally, Aquire Wealth Advisors LLC purchased a new stake in shares of FLEETCOR Technologies in the 4th quarter valued at $60,000. 97.44% of the stock is currently owned by institutional investors.
Several analysts have recently commented on FLT shares. TheStreet downgraded shares of FLEETCOR Technologies from a “b-” rating to a “c” rating in a report on Thursday, May 26th. Truist Financial dropped their price objective on shares of FLEETCOR Technologies from $290.00 to $275.00 and set a “buy” rating on the stock in a report on Thursday. Wells Fargo & Company began coverage on shares of FLEETCOR Technologies in a research note on Monday, April 4th. They issued an “overweight” rating and a $294.00 target price for the company. Evercore ISI reiterated an “outperform” rating and issued a $300.00 target price on shares of FLEETCOR Technologies in a research note on Thursday, June 2nd. Finally, Barclays boosted their target price on shares of FLEETCOR Technologies from $306.00 to $312.00 and gave the company an “overweight” rating in a research note on Thursday, April 14th. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, FLEETCOR Technologies currently has an average rating of “Moderate Buy” and an average price target of $296.11.
Shares of NYSE FLT opened at $213.89 on Friday. The firm has a 50-day simple moving average of $232.44 and a 200-day simple moving average of $235.97. The stock has a market capitalization of $16.54 billion, a price-to-earnings ratio of 20.20, a price-to-earnings-growth ratio of 0.95 and a beta of 1.22. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 1.52. FLEETCOR Technologies, Inc. has a 52 week low of $200.78 and a 52 week high of $282.02.
FLEETCOR Technologies (NYSE:FLT – Get Rating) last issued its earnings results on Thursday, May 5th. The business services provider reported $3.35 EPS for the quarter, beating analysts’ consensus estimates of $3.27 by $0.08. The business had revenue of $789.20 million during the quarter, compared to analysts’ expectations of $756.56 million. FLEETCOR Technologies had a net margin of 28.97% and a return on equity of 34.88%. The company’s quarterly revenue was up 29.7% compared to the same quarter last year. During the same period in the prior year, the business earned $2.66 earnings per share. As a group, equities research analysts expect that FLEETCOR Technologies, Inc. will post 14.47 EPS for the current year.
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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