Bainco International Investors buys $12.5 Million stake in FleetCor Technologies (FLT)

FleetCor Technologies (FLT) : Bainco International Investors scooped up 4,025 additional shares in FleetCor Technologies during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 12, 2016. The investment management firm now holds a total of 86,205 shares of FleetCor Technologies which is valued at $12.5 Million.FleetCor Technologies makes up approximately 3.01% of Bainco International Investors’s portfolio.

Other Hedge Funds, Including , King Luther Capital Management Corp boosted its stake in FLT in the latest quarter, The investment management firm added 10,142 additional shares and now holds a total of 32,590 shares of FleetCor Technologies which is valued at $4.7 Million. FleetCor Technologies makes up approx 0.05% of King Luther Capital Management Corp’s portfolio.Teacher Retirement System Of Texas boosted its stake in FLT in the latest quarter, The investment management firm added 2,363 additional shares and now holds a total of 11,245 shares of FleetCor Technologies which is valued at $1.6 Million. FleetCor Technologies makes up approx 0.01% of Teacher Retirement System Of Texas’s portfolio.Shinko Asset Management Ltd. reduced its stake in FLT by selling 37 shares or 15.29% in the most recent quarter. The Hedge Fund company now holds 205 shares of FLT which is valued at $29,803.Blackrock Advisors boosted its stake in FLT in the latest quarter, The investment management firm added 848,961 additional shares and now holds a total of 1,037,544 shares of FleetCor Technologies which is valued at $150.8 Million. FleetCor Technologies makes up approx 0.16% of Blackrock Advisors’s portfolio. Nine Chapters Capital Management added FLT to its portfolio by purchasing 14,500 company shares during the most recent quarter which is valued at $2.1 Million. FleetCor Technologies makes up approx 0.19% of Nine Chapters Capital Management’s portfolio.

FleetCor Technologies opened for trading at $146.26 and hit $147.89 on the upside on Friday, eventually ending the session at $146.85, with a gain of 0.94% or 1.37 points. The heightened volatility saw the trading volume jump to 4,07,047 shares. Company has a market cap of $13,591 M.

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. 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 .Company shares were Reiterated by Barclays on May 5, 2016 to “Overweight”, Firm has raised the Price Target to $ 160 from a previous price target of $150 .Compass Point Initiated FleetCor Technologies on Apr 15, 2016 to “Neutral”, Price Target of the shares are set at $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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