Norges Bank Buys Shares of 516,061 Euronet Worldwide, Inc. (NASDAQ:EEFT)

Norges Bank purchased a new stake in shares of Euronet Worldwide, Inc. (NASDAQ:EEFT - Free Report) during the 4th quarter, according to the company in its most recent filing with the SEC. The fund purchased 516,061 shares of the business services provider's stock, valued at approximately $53,072,000. Norges Bank owned about 1.17% of Euronet Worldwide as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Sei Investments Co. boosted its holdings in Euronet Worldwide by 9.1% in the fourth quarter. Sei Investments Co. now owns 425,971 shares of the business services provider's stock valued at $43,807,000 after purchasing an additional 35,391 shares during the last quarter. Hahn Capital Management LLC lifted its holdings in shares of Euronet Worldwide by 48.0% in the 4th quarter. Hahn Capital Management LLC now owns 105,278 shares of the business services provider's stock valued at $10,827,000 after buying an additional 34,152 shares during the period. Value Holdings Management CO. LLC boosted its stake in shares of Euronet Worldwide by 119.8% in the fourth quarter. Value Holdings Management CO. LLC now owns 57,823 shares of the business services provider's stock worth $5,947,000 after buying an additional 31,518 shares during the last quarter. Moran Wealth Management LLC acquired a new stake in Euronet Worldwide during the fourth quarter worth about $2,983,000. Finally, Proficio Capital Partners LLC purchased a new position in Euronet Worldwide during the fourth quarter valued at approximately $28,000. 91.60% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Euronet Worldwide

In other Euronet Worldwide news, CEO Michael J. Brown sold 95,000 shares of the stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $100.69, for a total value of $9,565,550.00. Following the completion of the sale, the chief executive officer now owns 1,418,966 shares in the company, valued at approximately $142,875,686.54. This represents a 6.27 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 10.50% of the company's stock.

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Euronet Worldwide Price Performance

Shares of Euronet Worldwide stock traded up $10.18 during mid-day trading on Wednesday, reaching $97.62. 779,494 shares of the stock traded hands, compared to its average volume of 337,656. The stock has a market capitalization of $4.22 billion, a PE ratio of 15.09, a PEG ratio of 0.78 and a beta of 1.18. The business has a 50-day moving average of $101.58 and a 200 day moving average of $101.26. Euronet Worldwide, Inc. has a fifty-two week low of $84.45 and a fifty-two week high of $117.66. The company has a quick ratio of 1.26, a current ratio of 1.25 and a debt-to-equity ratio of 0.92.

Euronet Worldwide (NASDAQ:EEFT - Get Free Report) last posted its quarterly earnings data on Wednesday, February 12th. The business services provider reported $1.82 EPS for the quarter, missing the consensus estimate of $2.05 by ($0.23). Euronet Worldwide had a net margin of 7.69% and a return on equity of 27.74%. On average, analysts predict that Euronet Worldwide, Inc. will post 9.11 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on EEFT. Needham & Company LLC reaffirmed a "buy" rating and set a $120.00 price objective on shares of Euronet Worldwide in a research note on Thursday, December 12th. Oppenheimer dropped their price target on shares of Euronet Worldwide from $135.00 to $128.00 and set an "outperform" rating on the stock in a research report on Thursday, December 19th. Keefe, Bruyette & Woods increased their target price on shares of Euronet Worldwide from $108.00 to $112.00 and gave the stock a "market perform" rating in a research note on Friday, February 14th. Stephens restated an "overweight" rating and issued a $130.00 price target on shares of Euronet Worldwide in a research note on Friday, February 14th. Finally, StockNews.com downgraded Euronet Worldwide from a "buy" rating to a "hold" rating in a research report on Saturday, February 22nd. Four equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $125.86.

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.