Edgestream Partners L.P. Invests $1.69 Million in Euronet Worldwide, Inc. (NASDAQ:EEFT)

Edgestream Partners L.P. acquired a new stake in Euronet Worldwide, Inc. (NASDAQ:EEFT) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 17,052 shares of the business services provider’s stock, valued at approximately $1,692,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of EEFT. Comerica Bank grew its stake in shares of Euronet Worldwide by 22.1% in the 1st quarter. Comerica Bank now owns 23,657 shares of the business services provider’s stock valued at $2,601,000 after buying an additional 4,288 shares during the period. GAMMA Investing LLC grew its position in Euronet Worldwide by 69.5% in the second quarter. GAMMA Investing LLC now owns 588 shares of the business services provider’s stock worth $61,000 after acquiring an additional 241 shares during the period. CWM LLC grew its position in Euronet Worldwide by 87.7% in the second quarter. CWM LLC now owns 1,860 shares of the business services provider’s stock worth $193,000 after acquiring an additional 869 shares during the period. SG Americas Securities LLC raised its position in Euronet Worldwide by 99.4% in the second quarter. SG Americas Securities LLC now owns 9,039 shares of the business services provider’s stock valued at $936,000 after purchasing an additional 4,507 shares during the period. Finally, Spectrum Asset Management Inc. NB CA acquired a new position in shares of Euronet Worldwide in the 2nd quarter valued at $232,000. 91.60% of the stock is currently owned by institutional investors and hedge funds.

Euronet Worldwide Trading Up 0.2 %

NASDAQ:EEFT opened at $105.47 on Wednesday. Euronet Worldwide, Inc. has a 12-month low of $87.85 and a 12-month high of $117.66. The firm has a market cap of $4.63 billion, a PE ratio of 15.24, a price-to-earnings-growth ratio of 0.96 and a beta of 1.44. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.88. The stock has a fifty day moving average price of $100.71 and a 200 day moving average price of $103.24.

Euronet Worldwide (NASDAQ:EEFT) last announced its quarterly earnings data on Wednesday, October 23rd. The business services provider reported $3.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.92 by $0.11. Euronet Worldwide had a return on equity of 26.86% and a net margin of 8.49%. The business had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.04 billion. During the same quarter last year, the business posted $2.53 EPS. Sell-side analysts anticipate that Euronet Worldwide, Inc. will post 7.87 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently issued reports on EEFT shares. StockNews.com raised Euronet Worldwide from a “hold” rating to a “buy” rating in a research report on Tuesday, November 12th. Needham & Company LLC reduced their price target on shares of Euronet Worldwide from $125.00 to $120.00 and set a “buy” rating on the stock in a research note on Thursday, October 24th. Monness Crespi & Hardt upgraded shares of Euronet Worldwide from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 24th. DA Davidson reiterated a “buy” rating and issued a $136.00 target price on shares of Euronet Worldwide in a report on Tuesday, October 8th. Finally, Citigroup cut Euronet Worldwide from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $118.00 to $110.00 in a research note on Friday, October 18th. Three equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Euronet Worldwide has an average rating of “Moderate Buy” and a consensus target price of $127.13.

Insiders Place Their Bets

In other news, SVP Martin L. Bruckner sold 9,397 shares of Euronet Worldwide stock in a transaction on Monday, November 25th. The shares were sold at an average price of $107.31, for a total transaction of $1,008,392.07. Following the completion of the sale, the senior vice president now directly owns 39,983 shares of the company’s stock, valued at approximately $4,290,575.73. The trade was a 19.03 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Juan Bianchi sold 4,000 shares of the stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $102.58, for a total value of $410,320.00. Following the completion of the transaction, the chief executive officer now directly owns 12,440 shares in the company, valued at $1,276,095.20. This trade represents a 24.33 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 65,431 shares of company stock worth $6,966,057 in the last 90 days. Corporate insiders own 10.50% of the company’s stock.

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. It operates through three segments: Electronic Fund Transfer Processing, epay, and Money Transfer. The Electronic Fund Transfer Processing segment provides electronic payment solutions, including automated teller machine (ATM) cash withdrawal and deposit services, ATM network participation, outsourced ATM and point-of-sale (POS) management solutions, credit and debit and prepaid card outsourcing, card issuing, and merchant acquiring services.