Shares of FleetCor Technologies (FLT) Sees Large Outflow of Money

FleetCor Technologies (FLT) : The value of composite uptick trades was $10.02 million, whereas, the value of composite downtick trades was $18.44 million. The uptick to downtick ratio stood at 0.54 with a negative money flow of ($8.42) Million during Wednesdays trading session. The block trades money flow was negative ($7.55 million). The transaction of the trades on downticks amounted to $7.55 million, which confirms investors selling on the strength of price. FleetCor Technologies (FLT) gained 168 cents at $151.88, an increase of 1.12% over the previous days close.


Also, JP Morgan upgrades its rating on FleetCor Technologies (NYSE:FLT). The global brokerage major maintains a current price target of $159 per share. Analysts at the JP Morgan have a current rating of Overweight on the shares. The shares were previously rated Neutral. The rating by the firm was issued on July 12, 2016.

FleetCor Technologies (NYSE:FLT): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $150.91 and $149.45 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $152.22. The buying momentum continued till the end and the stock did not give up its gains. It closed at $151.88, notching a gain of 1.12% for the day. The total traded volume was 332,419 . The stock had closed at $150.20 on the previous day.

The stock has recorded a 20-day Moving Average of 5.09% and the 50-Day Moving Average is 3.43%. In a related news,The officer (EVP Global Sales) of Fleetcor Technologies Inc, Freund Charles Richard sold 21,969 shares at $149 on July 12, 2016. The Insider selling transaction had a total value worth of $3,273,381. The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing.

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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