Harbor Spring Capital buys $35,358,900 stake in FleetCor Technologies (FLT)

FleetCor Technologies (FLT) : Harbor Spring Capital scooped up 25,000 additional shares in FleetCor Technologies during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 12, 2016. The investment management firm now holds a total of 215,000 shares of FleetCor Technologies which is valued at $35,358,900.FleetCor Technologies makes up approximately 8.15% of Harbor Spring Capital’s portfolio.

Other Hedge Funds, Including , Janus Capital Management reduced its stake in FLT by selling 10,900 shares or 48.88% in the most recent quarter. The Hedge Fund company now holds 11,400 shares of FLT which is valued at $1,874,844.Blackrock Institutional Trust Company N.a. boosted its stake in FLT in the latest quarter, The investment management firm added 57,361 additional shares and now holds a total of 2,084,109 shares of FleetCor Technologies which is valued at $342,752,566. FleetCor Technologies makes up approx 0.05% of Blackrock Institutional Trust Company N.a.’s portfolio.First Trust Advisors Lp boosted its stake in FLT in the latest quarter, The investment management firm added 43,001 additional shares and now holds a total of 53,141 shares of FleetCor Technologies which is valued at $8,625,847. FleetCor Technologies makes up approx 0.03% of First Trust Advisors Lp’s portfolio.

FleetCor Technologies closed down -0.44 points or -0.26% at $166.13 with 3,77,053 shares getting traded on Monday. Post opening the session at $166.55, the shares hit an intraday low of $165.53 and an intraday high of $167.52 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 $1.56 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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