First Mercantile Trust Co Lowers stake in FleetMatics Group PLC (FLTX)

FleetMatics Group PLC (FLTX) : First Mercantile Trust Co reduced its stake in FleetMatics Group PLC by 9.99% during the most recent quarter end. The investment management company now holds a total of 8,402 shares of FleetMatics Group PLC which is valued at $503,448 after selling 932 shares in FleetMatics Group PLC , the firm said in a disclosure report filed with the SEC on Oct 7, 2016.FleetMatics Group PLC makes up approximately 0.07% of First Mercantile Trust Co’s portfolio.

Other Hedge Funds, Including , Simplex Trading sold out all of its stake in FLTX during the most recent quarter. The investment firm sold 2,219 shares of FLTX which is valued $132,962. Franklin Street Advisors Inc Nc sold out all of its stake in FLTX during the most recent quarter. The investment firm sold 17,900 shares of FLTX which is valued $1,072,926.Bnp Paribas Arbitrage Sa boosted its stake in FLTX in the latest quarter, The investment management firm added 1,768 additional shares and now holds a total of 3,305 shares of FleetMatics Group PLC which is valued at $198,102.

FleetMatics Group PLC closed down -0.05 points or -0.08% at $59.92 with 1,47,765 shares getting traded on Friday. Post opening the session at $59.93, the shares hit an intraday low of $59.9 and an intraday high of $59.97 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

On the company’s financial health, FleetMatics Group PLC reported $0.35 EPS for the quarter, based on the information available during the earnings call on May 4, 2016. Analyst had a consensus estimate of $0.35. The company had revenue of $78.90 million for the quarter, compared to analysts expectations of $79.32 million. The company’s revenue was up 20.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.33 EPS.

Many Wall Street Analysts have commented on FleetMatics Group PLC. FleetMatics Group PLC was Downgraded by Citigroup to ” Neutral” on Aug 9, 2016. Company shares were Downgraded by Barclays on Aug 4, 2016 to ” Equal Weight”, Firm has raised the Price Target to $ 59 from a previous price target of $46 .Company shares were Downgraded by Imperial Capital on Aug 2, 2016 to ” In-line”, Firm has raised the Price Target to $ 60 from a previous price target of $50 .

Fleetmatics Group PLC is a holding company. The Company is a provider of fleet management solutions delivered as software-as-a-service (SaaS). Its mobile software platform enables businesses to manage their local fleets of commercial vehicles. It offers Web-based and mobile application solutions that provide fleet operators with access to vehicle location fuel usage speed and mileage and others into their mobile workforce. The Company’s product offerings include Fleetmatics REVEAL a business intelligence-based fleet management solution for small and midsize businesses (SMBs); Fleetmatics REVEAL+ which extends Fleetmatics REVEAL to larger enterprises and Fleetmatics WORK a field service management solution. The Company’s solutions include fleet management and field service management. The Company’s subsidiaries are Fleetmatics Ireland Limited Fleetmatics (UK) Limited Fleetmatics USA LLC Fleetmatics Netherlands B.V. Fleetmatics de Mexico Srl and Fleetmatics Pty Ltd.

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