Euronet Worldwide, Inc. (NASDAQ:EEFT) Shares Purchased by Convergence Investment Partners LLC

Convergence Investment Partners LLC raised its stake in Euronet Worldwide, Inc. (NASDAQ:EEFT - Free Report) by 92.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 12,720 shares of the business services provider's stock after acquiring an additional 6,104 shares during the period. Convergence Investment Partners LLC's holdings in Euronet Worldwide were worth $1,308,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of EEFT. State of New Jersey Common Pension Fund D increased its holdings in shares of Euronet Worldwide by 10.3% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 20,788 shares of the business services provider's stock worth $2,138,000 after buying an additional 1,942 shares during the last quarter. New York State Teachers Retirement System boosted its stake in shares of Euronet Worldwide by 0.8% during the 4th quarter. New York State Teachers Retirement System now owns 23,277 shares of the business services provider's stock worth $2,394,000 after purchasing an additional 196 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in shares of Euronet Worldwide by 0.5% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 3,372,449 shares of the business services provider's stock worth $340,955,000 after purchasing an additional 16,220 shares during the period. Avidian Wealth Enterprises LLC purchased a new position in shares of Euronet Worldwide during the 4th quarter worth about $231,000. Finally, Entropy Technologies LP purchased a new position in shares of Euronet Worldwide during the 4th quarter worth about $402,000. 91.60% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. StockNews.com cut shares of Euronet Worldwide from a "buy" rating to a "hold" rating in a research note on Thursday, February 13th. Oppenheimer dropped their price target on shares of Euronet Worldwide from $135.00 to $128.00 and set an "outperform" rating for the company in a research note on Thursday, December 19th. Stephens reissued an "overweight" rating and issued a $130.00 price objective on shares of Euronet Worldwide in a research report on Friday, February 14th. Monness Crespi & Hardt raised shares of Euronet Worldwide from a "hold" rating to a "strong-buy" rating in a research report on Thursday, October 24th. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $120.00 price target on shares of Euronet Worldwide in a research report on Thursday, December 12th. Four equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $127.00.

Euronet Worldwide Stock Down 4.0 %

Shares of Euronet Worldwide stock traded down $4.22 during trading hours on Friday, hitting $101.82. The company had a trading volume of 230,733 shares, compared to its average volume of 317,245. The company's 50-day moving average is $101.08 and its two-hundred day moving average is $101.09. Euronet Worldwide, Inc. has a twelve month low of $91.07 and a twelve month high of $117.66. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.25 and a quick ratio of 1.26. The company has a market cap of $4.47 billion, a P/E ratio of 15.73, a price-to-earnings-growth ratio of 0.80 and a beta of 1.43.

Euronet Worldwide (NASDAQ:EEFT - Get Free Report) last released its quarterly earnings results 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%. Analysts anticipate that Euronet Worldwide, Inc. will post 9.05 earnings per share for the current fiscal year.

Insider Activity at Euronet Worldwide

In other Euronet Worldwide news, CEO Nikos Fountas sold 21,479 shares of the company's stock in a transaction on Monday, December 9th. The shares were sold at an average price of $103.56, for a total transaction of $2,224,365.24. Following the completion of the transaction, the chief executive officer now owns 52,370 shares in the company, valued at approximately $5,423,437.20. This represents a 29.09 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Kevin J. Caponecchi sold 52,034 shares of the company's stock in a transaction on Monday, November 25th. The stock was sold at an average price of $106.61, for a total transaction of $5,547,344.74. Following the transaction, the chief executive officer now owns 90,288 shares of the company's stock, valued at approximately $9,625,603.68. The trade was a 36.56 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 82,910 shares of company stock worth $8,780,102 in the last 90 days. 10.50% of the stock is owned by insiders.

About Euronet Worldwide

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.