FleetCor Technologies, Inc. (FLT): Is The Love for This Stock Fleeting?

FleetCor Technologies, Inc. (NYSE:FLT) recently announced a long-term contract with Caltex, Australia where it will implement its Global FleetNet fuel card processing platform to run the private-label commercial card program of the Australian company. FleetCor Technologies, Inc. is a leading provider of fuel cards and workforce payment products to businesses.

This week FleetCor Technologies, Inc. (NYSE:FLT) also announced the acquisition of two companies – NexTraq and Epyx. While Atlanta-based NexTraq is a provider of fleet telematics services, the U.K.-based Epyx provides computer services to about 9,000 service garages.

While the stock of FleetCor Technologies, Inc. has rallied close to 40 percent over the past six months, equities analysts at Zacks recently announced that the stock could outperform within the next three months and could deliver better returns over the long term. Now let us consider whether hedge-fund managers and insiders are equally bullish about their investments in this stock.

FleetCor Technologies, Inc. (NYSE:FLT)

How are hedge funds trading FleetCor Technologies, Inc. (NYSE:FLT)?

Heading into the fourth quarter, 45 of the hedge funds tracked by our friends at Insider Monkey were long in this stock, a 15-percent increase from the previous quarter. With hedge funds’ capital changing hands, there exists a few notable hedge fund managers who were boosting their holdings meaningfully.

Of the hedge fund managers tracked by Insider Monkey, Stephen Mandel of Lone Pine Capital had the biggest position in FleetCor Technologies, Inc. (NYSE:FLT), worth $502.6 million, comprising 2.2 percent of its total investment portfolio. Following in the list is OZ Management, managed by Daniel S. Och which holds a $283.1-million investment, comprising 0.8 percent of its total portfolio. Remaining peers with similar optimism include Chase Coleman of Tiger Global Management LLC, Joel Ramin of 12 West Capital Management and Jonathan Auerbach of Hound Partners.

As one would reasonably expect, key money managers have been driving this bullishness. Columbus Circle Investors, managed by Donald Chiboucis, established the most valuable position in FleetCor Technologies, Inc. (NYSE:FLT) with investment worth $86 million at the end of the quarter. Rob Citrone of Discovery Capital Management also made a $52.3-million investment in the stock during the quarter. The following fund managers were also among the new FLT investors and include Robert Pohly of Samlyn Capital, John Thaler of JAT Capital Management, and John Overdeck and David Siegel of Two Sigma Advisors.

What have insiders been doing with FleetCor Technologies, Inc. (NYSE:FLT)?

Over the last six months, FleetCor Technologies, Inc. (NYSE:FLT) has experienced one unique insider buy and 16 insider sales (see the details of insider trades here).

Let’s also take a look at hedge-fund and insider activity in other stocks similar to FleetCor Technologies, Inc. (NYSE:FLT). These stocks are Verisk Analytics, Inc. (NASDAQ:VRSK), Global Payments Inc (NYSE:GPN), Alliance Data Systems Corporation (NYSE:ADS), Vantiv Inc (NYSE:VNTV), and Cintas Corporation (NASDAQ:CTAS). This group of stocks is the members of the business services industry and their market caps are similar to FLT’s market cap.

Company Name # of Hedge Funds # of Insiders Buying # of Insiders Selling
Verisk Analytics, Inc. (NASDAQ:VRSK) 29 0 6
Global Payments Inc (NYSE:GPN) 21 1 5
Alliance Data Systems Corporation (NYSE:ADS) 28 0 8
Vantiv Inc. (NYSE:VNTV) 27 0 26
Cintas Corporation (NASDAQ:CTAS) 20 0 2

No other peers seem equally fascinating as far as hedge funds are concerned. However the insiders selling activities at Vantiv Inc. (NYSE:VNTV) and FleetCor Technologies, Inc. (NYSE:FLT) are certainly noteworthy.


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