ABS Direct Equity Fund LLC Grows Holdings in Euronet Worldwide, Inc. (NASDAQ:EEFT)

ABS Direct Equity Fund LLC increased its position in shares of Euronet Worldwide, Inc. (NASDAQ:EEFT - Free Report) by 21.8% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 30,000 shares of the business services provider's stock after buying an additional 5,364 shares during the period. Euronet Worldwide accounts for 3.3% of ABS Direct Equity Fund LLC's holdings, making the stock its 11th biggest holding. ABS Direct Equity Fund LLC owned about 0.07% of Euronet Worldwide worth $2,977,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Ellsworth Advisors LLC acquired a new stake in Euronet Worldwide in the second quarter worth $514,000. Burgundy Asset Management Ltd. grew its holdings in Euronet Worldwide by 1.4% in the second quarter. Burgundy Asset Management Ltd. now owns 767,293 shares of the business services provider's stock worth $79,415,000 after purchasing an additional 10,689 shares during the period. Savant Capital LLC grew its holdings in Euronet Worldwide by 199.3% in the second quarter. Savant Capital LLC now owns 8,928 shares of the business services provider's stock worth $924,000 after purchasing an additional 5,945 shares during the period. Thompson Siegel & Walmsley LLC grew its holdings in Euronet Worldwide by 5.4% in the third quarter. Thompson Siegel & Walmsley LLC now owns 161,283 shares of the business services provider's stock worth $16,004,000 after purchasing an additional 8,230 shares during the period. Finally, Maverick Capital Ltd. grew its holdings in Euronet Worldwide by 507.8% in the second quarter. Maverick Capital Ltd. now owns 14,916 shares of the business services provider's stock worth $1,544,000 after purchasing an additional 12,462 shares during the period. Institutional investors own 91.60% of the company's stock.

Euronet Worldwide Stock Performance

EEFT stock traded up $0.56 during mid-day trading on Tuesday, hitting $104.18. The company had a trading volume of 252,053 shares, compared to its average volume of 298,822. The firm has a market cap of $4.58 billion, a PE ratio of 15.05, a price-to-earnings-growth ratio of 0.94 and a beta of 1.44. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.26 and a current ratio of 1.26. Euronet Worldwide, Inc. has a 12 month low of $90.41 and a 12 month high of $117.66. The stock's fifty day moving average price is $101.22 and its two-hundred day moving average price is $102.86.

Euronet Worldwide (NASDAQ:EEFT - Get Free Report) last posted its quarterly earnings results 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 net margin of 8.49% and a return on equity of 26.86%. The company had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.04 billion. During the same quarter in the previous year, the firm posted $2.53 earnings per share. On average, analysts forecast that Euronet Worldwide, Inc. will post 7.87 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Nikos Fountas sold 21,479 shares of the company's stock in a transaction that occurred 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 sale, the chief executive officer now owns 52,370 shares of the company's stock, valued at approximately $5,423,437.20. This represents a 29.09 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Kevin J. Caponecchi sold 52,034 shares of the company's stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 90,288 shares in the company, valued at $9,625,603.68. This trade represents a 36.56 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 82,910 shares of company stock valued at $8,780,102 over the last quarter. Company insiders own 10.50% of the company's stock.

Analysts Set New Price Targets

EEFT has been the subject of a number of research reports. Citigroup cut shares of Euronet Worldwide from a "buy" rating to a "neutral" rating and reduced their price target for the stock from $118.00 to $110.00 in a report on Friday, October 18th. Needham & Company LLC reduced their price objective on shares of Euronet Worldwide from $125.00 to $120.00 and set a "buy" rating for the company in a report on Thursday, October 24th. StockNews.com upgraded shares of Euronet Worldwide from a "hold" rating to a "buy" rating in a report on Tuesday, November 12th. DA Davidson reiterated a "buy" rating and set a $136.00 price objective on shares of Euronet Worldwide in a report on Tuesday, October 8th. Finally, Oppenheimer lifted their price objective on shares of Euronet Worldwide from $121.00 to $135.00 and gave the company an "outperform" rating in a report on Monday, November 25th. Three 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 company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $127.13.

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.