Stephens Investment Management Group LLC lowered its position in shares of Euronet Worldwide, Inc. (NASDAQ:EEFT) by 14.7% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 553,782 shares of the business services provider’s stock after selling 95,349 shares during the quarter. Stephens Investment Management Group LLC owned 1.09% of Euronet Worldwide worth $46,224,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently made changes to their positions in EEFT. Psagot Investment House Ltd. purchased a new position in Euronet Worldwide during the 1st quarter worth $142,000. Mount Yale Investment Advisors LLC purchased a new position in Euronet Worldwide during the 1st quarter worth $166,000. Essex Investment Management Co. LLC purchased a new position in Euronet Worldwide during the 2nd quarter worth $207,000. Fiduciary Trust Co. purchased a new position in Euronet Worldwide during the 1st quarter worth $211,000. Finally, Hartford Investment Management Co. purchased a new position in Euronet Worldwide during the 2nd quarter worth $213,000. Institutional investors own 99.33% of the company’s stock.
A number of brokerages have recently issued reports on EEFT. Piper Jaffray Companies reiterated a “buy” rating and issued a $111.00 price target on shares of Euronet Worldwide in a report on Thursday, July 26th. Wells Fargo & Co began coverage on shares of Euronet Worldwide in a report on Thursday, July 26th. They issued an “outperform” rating and a $120.00 price target for the company. MED began coverage on shares of Euronet Worldwide in a report on Thursday, July 26th. They issued an “outperform” rating for the company. Needham & Company LLC increased their price target on shares of Euronet Worldwide from $100.00 to $110.00 and gave the company a “buy” rating in a report on Thursday, July 26th. Finally, ValuEngine upgraded shares of Euronet Worldwide from a “sell” rating to a “hold” rating in a report on Wednesday, July 25th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $109.44.
In related news, CEO Michael J. Brown sold 25,000 shares of the stock in a transaction dated Friday, July 27th. The shares were sold at an average price of $93.27, for a total value of $2,331,750.00. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Rick Weller sold 57,458 shares of the stock in a transaction dated Thursday, August 23rd. The shares were sold at an average price of $96.62, for a total transaction of $5,551,591.96. The disclosure for this sale can be found here. Insiders sold a total of 110,009 shares of company stock valued at $10,485,554 in the last quarter. Insiders own 7.70% of the company’s stock.
Shares of EEFT traded down $0.85 during trading hours on Thursday, reaching $95.89. The company had a trading volume of 18,033 shares, compared to its average volume of 242,866. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $4.93 billion, a PE ratio of 22.15, a P/E/G ratio of 1.41 and a beta of 1.49. Euronet Worldwide, Inc. has a 12-month low of $70.67 and a 12-month high of $101.07.
Euronet Worldwide (NASDAQ:EEFT) last announced its quarterly earnings results on Tuesday, July 24th. The business services provider reported $1.32 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $1.32. The business had revenue of $622.20 million during the quarter, compared to the consensus estimate of $618.93 million. Euronet Worldwide had a net margin of 6.11% and a return on equity of 21.71%. The business’s revenue was up 16.0% compared to the same quarter last year. During the same quarter last year, the firm posted $1.09 EPS. research analysts anticipate that Euronet Worldwide, Inc. will post 5.15 EPS for the current year.
Euronet Worldwide Company Profile
Euronet Worldwide, Inc provides payment and transaction processing and distribution solutions to financial institutions, retailers, service providers, and individual consumers worldwide. The company operates in three segments: Electronic Financial Transaction (EFT) Processing, epay, and Money Transfer.
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