Zacks Investment Research downgraded shares of FLEETCOR TECH (FLT) from OUTPERFORM to NEUTRAL on October 09, 2012, with a target price of $47.80.
FleetCor Technologies Inc operates as a provider of specialized payment products and services to commercial fleets, major oil companies and petroleum marketers. The Company's range of customized fleet and lodging payment programs are offered through three general categories- direct issuing fuel card services and petroleum distributor services. These products function like a charge card to purchase fuel, lodging and related products and services at participating locations. FleetCor also provides specialized issuing, processing and information services to its customers. The Company owns and operates proprietary closed-loop networks and uses third party networks to deliver its payment services. FleetCor Technologies Inc is headquartered in Norcross, Georgia.
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