Balasa Dinverno Foltz Lowers stake in FleetCor Technologies (FLT)

FleetCor Technologies (FLT) : Balasa Dinverno Foltz reduced its stake in FleetCor Technologies by 2.94% during the most recent quarter end. The investment management company now holds a total of 115,226 shares of FleetCor Technologies which is valued at $17,329,990 after selling 3,492 shares in FleetCor Technologies , the firm said in a disclosure report filed with the SEC on Jul 14, 2016.FleetCor Technologies makes up approximately 3.04% of Balasa Dinverno Foltz’s portfolio.

Other Hedge Funds, Including , Gateway Investment Advisers reduced its stake in FLT by selling 38,901 shares or 48.31% in the most recent quarter. The Hedge Fund company now holds 41,630 shares of FLT which is valued at $6,230,762. FleetCor Technologies makes up approx 0.05% of Gateway Investment Advisers’s portfolio.Gulf International Bank (uk) Ltd boosted its stake in FLT in the latest quarter, The investment management firm added 5,500 additional shares and now holds a total of 27,950 shares of FleetCor Technologies which is valued at $4,183,277. FleetCor Technologies makes up approx 0.07% of Gulf International Bank (uk) Ltd’s portfolio.Capital Investment Services Of America boosted its stake in FLT in the latest quarter, The investment management firm added 1,350 additional shares and now holds a total of 47,827 shares of FleetCor Technologies which is valued at $6,877,044. FleetCor Technologies makes up approx 1.29% of Capital Investment Services Of America’s portfolio.Bnp Paribas Arbitrage Sa reduced its stake in FLT by selling 2,673 shares or 17.82% in the most recent quarter. The Hedge Fund company now holds 12,324 shares of FLT which is valued at $1,772,068. FleetCor Technologies makes up approx 0.01% of Bnp Paribas Arbitrage Sa’s portfolio.

FleetCor Technologies closed down -0.05 points or -0.03% at $150.4 with 1,81,774 shares getting traded on Monday. Post opening the session at $150.99, the shares hit an intraday low of $149.85 and an intraday high of $150.99 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, FleetCor Technologies reported $1.53 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on May 4, 2016. Analyst had a consensus of $1.50. The company had revenue of $414.30 million for the quarter, compared to analysts expectations of $419.05 million. The company’s revenue was down -.5 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.45 EPS.

Many Wall Street Analysts have commented on FleetCor Technologies. JP Morgan Upgraded FleetCor Technologies on Jul 12, 2016 to ” Overweight”, Price Target of the shares are set at $159.FleetCor Technologies was Initiated by SunTrust to “Buy” on Jun 24, 2016. Company shares were Reiterated by Compass Point on May 5, 2016 to “Neutral”, Firm has raised the Price Target to $ 146 from a previous price target of $145 .

FleetCor Technologies Inc. is an independent global provider of fuel cards commercial payment and data solutions stored value solutions and workforce payment products and services to businesses retailers commercial fleets oil companies petroleum marketers and Government entities in countries. The Company operates in two segments: North America and International. In North America the Company sells a fuel card product commercial payment and data solutions as well as a fleet telematics offering which allows customers to track the location of mobile workers in field-based businesses as well as over-the-road trucking fleets. In its International segment the Company provides small and mid-sized fleets with fuel cards to control and manage spending. Additionally the Company provides a similar fuel product in its International segment to over-the-road trucking fleets shipping fleets and other operators of heavily industrialized equipment.

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