Weatherbie Capital Lowers stake in FleetMatics Group PLC (FLTX)

FleetMatics Group PLC (FLTX) : Weatherbie Capital reduced its stake in FleetMatics Group PLC by 25.45% during the most recent quarter end. The investment management company now holds a total of 468,536 shares of FleetMatics Group PLC which is valued at $27,826,353 after selling 159,974 shares in FleetMatics Group PLC , the firm said in a disclosure report filed with the SEC on Aug 11, 2016.FleetMatics Group PLC makes up approximately 3.63% of Weatherbie Capital’s portfolio.

Other Hedge Funds, Including , Comerica Bank added FLTX to its portfolio by purchasing 26,587 company shares during the most recent quarter which is valued at $1,579,002. FleetMatics Group PLC makes up approx 0.01% of Comerica Bank’s portfolio. Airain Ltd sold out all of its stake in FLTX during the most recent quarter. The investment firm sold 4,956 shares of FLTX which is valued $294,882.American Capital Management Inc boosted its stake in FLTX in the latest quarter, The investment management firm added 149,575 additional shares and now holds a total of 285,479 shares of FleetMatics Group PLC which is valued at $17,011,694. FleetMatics Group PLC makes up approx 1.36% of American Capital Management Inc’s portfolio.California State Teachers Retirement System boosted its stake in FLTX in the latest quarter, The investment management firm added 1,049 additional shares and now holds a total of 82,232 shares of FleetMatics Group PLC which is valued at $4,900,205. FleetMatics Group PLC makes up approx 0.01% of California State Teachers Retirement System’s portfolio.Huntington National Bank boosted its stake in FLTX in the latest quarter, The investment management firm added 1,952 additional shares and now holds a total of 2,252 shares of FleetMatics Group PLC which is valued at $95,327.

FleetMatics Group PLC opened for trading at $59.59 and hit $60.18 on the upside on Tuesday, eventually ending the session at $60, with a gain of 1.03% or 0.61 points. The heightened volatility saw the trading volume jump to 26,96,390 shares. Company has a market cap of $2,350 M.

On the company’s financial health, FleetMatics Group PLC reported $0.35 EPS for the quarter, based on the information available during the earnings call on May 4, 2016. Analyst had a consensus estimate of $0.35. The company had revenue of $78.90 million for the quarter, compared to analysts expectations of $79.32 million. The company’s revenue was up 20.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.33 EPS.

Many Wall Street Analysts have commented on FleetMatics Group PLC. FleetMatics Group PLC was Downgraded by Citigroup to ” Neutral” on Aug 9, 2016. Company shares were Downgraded by Barclays on Aug 4, 2016 to ” Equal Weight”, Firm has raised the Price Target to $ 59 from a previous price target of $46 .Company shares were Downgraded by Imperial Capital on Aug 2, 2016 to ” In-line”, Firm has raised the Price Target to $ 60 from a previous price target of $50 .

Fleetmatics Group PLC is a holding company. The Company is a provider of fleet management solutions delivered as software-as-a-service (SaaS). Its mobile software platform enables businesses to manage their local fleets of commercial vehicles. It offers Web-based and mobile application solutions that provide fleet operators with access to vehicle location fuel usage speed and mileage and others into their mobile workforce. The Company’s product offerings include Fleetmatics REVEAL a business intelligence-based fleet management solution for small and midsize businesses (SMBs); Fleetmatics REVEAL+ which extends Fleetmatics REVEAL to larger enterprises and Fleetmatics WORK a field service management solution. The Company’s solutions include fleet management and field service management. The Company’s subsidiaries are Fleetmatics Ireland Limited Fleetmatics (UK) Limited Fleetmatics USA LLC Fleetmatics Netherlands B.V. Fleetmatics de Mexico Srl and Fleetmatics Pty Ltd.

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