Winslow Capital Management buys $424,755,776 stake in FleetCor Technologies (FLT)

FleetCor Technologies (FLT) : Winslow Capital Management scooped up 724,391 additional shares in FleetCor Technologies during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 11, 2016. The investment management firm now holds a total of 2,582,730 shares of FleetCor Technologies which is valued at $424,755,776.FleetCor Technologies makes up approximately 1.63% of Winslow Capital Management’s portfolio.

Other Hedge Funds, Including , National Pension Service boosted its stake in FLT in the latest quarter, The investment management firm added 7,833 additional shares and now holds a total of 60,641 shares of FleetCor Technologies which is valued at $9,973,019. FleetCor Technologies makes up approx 0.09% of National Pension Service’s portfolio.Tributary Capital Management reduced its stake in FLT by selling 8,100 shares or 32.4% in the most recent quarter. The Hedge Fund company now holds 16,900 shares of FLT which is valued at $2,783,768. FleetCor Technologies makes up approx 0.39% of Tributary Capital Management’s portfolio.Telemus Capital boosted its stake in FLT in the latest quarter, The investment management firm added 28 additional shares and now holds a total of 6,065 shares of FleetCor Technologies which is valued at $921,152. FleetCor Technologies makes up approx 0.11% of Telemus Capital’s portfolio.

FleetCor Technologies opened for trading at $167.83 and hit $168.87 on the upside on Tuesday, eventually ending the session at $168.44, with a gain of 0.62% or 1.03 points. The heightened volatility saw the trading volume jump to 6,09,373 shares. Company has a market cap of $20,369 M.

On the company’s financial health, FleetCor Technologies reported $1.56 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Aug 4, 2016. Analyst had a consensus of $1.54. The company had revenue of $417.90 million for the quarter, compared to analysts expectations of $415.87 million. The company’s revenue was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.48 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.

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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