5 Best Long Term Growth Stocks To Invest In

4. FleetCor Technologies, Inc. (NYSE:FLT)

Number of Hedge Fund Holders: 33

FleetCor Technologies, Inc. (NYSE:FLT) is a data processing and outsourced services company based in Atlanta, Georgia. The company offers digital payment solutions to businesses, allowing them to control purchases and make payments. It also provides corporate payment solutions like accounts payable automation and Virtual Card, which provides a single-use card number for a specific amount usable during a certain timeframe.

Sanjay Sakhrani at Keefe Bruyette holds an Outperform rating on shares of FleetCor Technologies, Inc. (NYSE:FLT) as of October 10. The analyst also placed a $230 price target on the stock.

This October, FleetCor Technologies, Inc. (NYSE:FLT) announced its decision to acquire Roomex, a European workforce lodging provider serving the UK and German markets. The acquisition will help the company expand its US workforce lodging business in other markets, raising revenue and profitability. In August, FleetCor Technologies, Inc. (NYSE:FLT) raised its outlook for 2022, expecting total revenues between $3.38 billion and $3.42 billion, versus consensus estimates of $3.37 billion. For adjusted EPS, the company expects between $15.85 and $16.05, versus estimates of $15.68.

In total, 33 hedge funds were long the stock in the second quarter, with a total stake value of $1.04 billion.