Balasa Dinverno Foltz Lowers stake in FleetCor Technologies (FLT)

FleetCor Technologies (FLT) : Balasa Dinverno Foltz reduced its stake in FleetCor Technologies by 2.34% during the most recent quarter end. The investment management company now holds a total of 118,718 shares of FleetCor Technologies which is valued at $17.3 Million after selling 2,850 shares in FleetCor Technologies , the firm said in a disclosure report filed with the SEC on May 11, 2016.FleetCor Technologies makes up approximately 3.14% of Balasa Dinverno Foltz’s portfolio.

Other Hedge Funds, Including , Mufg Americas Holdings Corp sold out all of its stake in FLT during the most recent quarter. The investment firm sold 28 shares of FLT which is valued $4,071.Tiaa Cref Investment Management reduced its stake in FLT by selling 45,104 shares or 6.63% in the most recent quarter. The Hedge Fund company now holds 635,474 shares of FLT which is valued at $96.2 Million. FleetCor Technologies makes up approx 0.07% of Tiaa Cref Investment Management’s portfolio. Checchi Capital Advisers added FLT to its portfolio by purchasing 761 company shares during the most recent quarter which is valued at $115,238. FleetCor Technologies makes up approx 0.03% of Checchi Capital Advisers’s portfolio.

FleetCor Technologies opened for trading at $145.26 and hit $149.21 on the upside on Monday, eventually ending the session at $146.4, with a gain of 0.70% or 1.02 points. The heightened volatility saw the trading volume jump to 8,64,491 shares. Company has a market cap of $13,549 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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