Fintel reports that on September 13, 2023, Truist Securities maintained coverage of Fleetcor Technologies (NYSE:FLT) with a Buy recommendation.
Analyst Price Forecast Suggests 7.27% Upside
As of August 31, 2023, the average one-year price target for Fleetcor Technologies is 292.10. The forecasts range from a low of 246.44 to a high of $342.30. The average price target represents an increase of 7.27% from its latest reported closing price of 272.29.
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The projected annual revenue for Fleetcor Technologies is 3,753MM, an increase of 3.50%. The projected annual non-GAAP EPS is 17.40.
What is the Fund Sentiment?
There are 1239 funds or institutions reporting positions in Fleetcor Technologies. This is an increase of 5 owner(s) or 0.41% in the last quarter. Average portfolio weight of all funds dedicated to FLT is 0.34%, an increase of 5.95%. Total shares owned by institutions increased in the last three months by 2.20% to 80,703K shares. 
The put/call ratio of FLT is 0.77, indicating a bullish outlook.
What are Other Shareholders Doing?
Wellington Management Group Llp holds 5,735K shares representing 7.75% ownership of the company. In it's prior filing, the firm reported owning 4,465K shares, representing an increase of 22.16%. The firm increased its portfolio allocation in FLT by 45.98% over the last quarter.
Orbis Allan Gray holds 5,105K shares representing 6.90% ownership of the company. In it's prior filing, the firm reported owning 5,090K shares, representing an increase of 0.30%. The firm increased its portfolio allocation in FLT by 6.91% over the last quarter.
Price T Rowe Associates holds 4,581K shares representing 6.19% ownership of the company. In it's prior filing, the firm reported owning 3,291K shares, representing an increase of 28.17%. The firm increased its portfolio allocation in FLT by 248.16% over the last quarter.
T. Rowe Price Investment Management holds 3,704K shares representing 5.01% ownership of the company. In it's prior filing, the firm reported owning 3,526K shares, representing an increase of 4.79%. The firm increased its portfolio allocation in FLT by 18.83% over the last quarter.
Jpmorgan Chase holds 3,426K shares representing 4.63% ownership of the company. In it's prior filing, the firm reported owning 3,723K shares, representing a decrease of 8.68%. The firm increased its portfolio allocation in FLT by 678.37% over the last quarter.
Fleetcor Technologies Background Information
(This description is provided by the company.)
FLEETCOR Technologies s a leading global business payments company that simplifies the way businesses manage and pay their expenses. The FLEETCOR portfolio of brands help companies automate, secure, digitize and control payments on behalf of, their employees and suppliers. FLEETCOR serves businesses, partners and merchants in North America, Latin America, Europe, and Asia Pacific.
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This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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