Jacobs Levy Equity Management Inc. decreased its position in Euronet Worldwide, Inc. (NASDAQ:EEFT - Free Report) by 67.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,348 shares of the business services provider's stock after selling 33,606 shares during the period. Jacobs Levy Equity Management Inc.'s holdings in Euronet Worldwide were worth $1,622,000 at the end of the most recent reporting period.
Other large investors have also bought and sold shares of the company. Summit Securities Group LLC bought a new position in Euronet Worldwide during the 2nd quarter valued at about $57,000. 1620 Investment Advisors Inc. purchased a new stake in Euronet Worldwide in the 2nd quarter worth approximately $80,000. Mendota Financial Group LLC bought a new stake in Euronet Worldwide during the 3rd quarter worth approximately $100,000. Headlands Technologies LLC boosted its position in shares of Euronet Worldwide by 131.8% in the second quarter. Headlands Technologies LLC now owns 1,064 shares of the business services provider's stock worth $110,000 after purchasing an additional 605 shares during the period. Finally, Daiwa Securities Group Inc. purchased a new stake in shares of Euronet Worldwide in the third quarter worth $109,000. 91.60% of the stock is owned by hedge funds and other institutional investors.
Euronet Worldwide Price Performance
NASDAQ:EEFT traded up $0.01 during trading hours on Monday, reaching $103.40. 123,594 shares of the company were exchanged, compared to its average volume of 297,962. The firm has a market cap of $4.54 billion, a PE ratio of 14.94, a price-to-earnings-growth ratio of 0.94 and a beta of 1.44. The stock's 50-day moving average is $101.03 and its 200-day moving average is $103.01. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.88. Euronet Worldwide, Inc. has a twelve month low of $90.41 and a twelve month high of $117.66.
Euronet Worldwide (NASDAQ:EEFT - Get Free Report) last posted its quarterly earnings data on Wednesday, October 23rd. The business services provider reported $3.03 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 firm had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.04 billion. During the same period in the prior year, the company earned $2.53 EPS. On average, sell-side analysts anticipate that Euronet Worldwide, Inc. will post 7.87 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
A number of brokerages have issued reports on EEFT. DA Davidson reiterated a "buy" rating and issued a $136.00 price target on shares of Euronet Worldwide in a research note on Tuesday, October 8th. Monness Crespi & Hardt upgraded shares of Euronet Worldwide from a "hold" rating to a "strong-buy" rating in a research note on Thursday, October 24th. Oppenheimer raised their price objective on Euronet Worldwide from $121.00 to $135.00 and gave the company an "outperform" rating in a research report on Monday, November 25th. StockNews.com upgraded Euronet Worldwide from a "hold" rating to a "buy" rating in a report on Tuesday, November 12th. Finally, Needham & Company LLC decreased their price objective on Euronet Worldwide from $125.00 to $120.00 and set a "buy" rating on the stock in a report on Thursday, October 24th. Three analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $127.13.
Check Out Our Latest Analysis on Euronet Worldwide
Insider Transactions at Euronet Worldwide
In other Euronet Worldwide news, SVP Martin L. Bruckner sold 9,397 shares of the firm's stock in a transaction on Monday, November 25th. The stock was 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 owns 39,983 shares of the company's stock, valued at $4,290,575.73. This trade represents a 19.03 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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 completion of the transaction, the chief executive officer now owns 90,288 shares in the company, valued at approximately $9,625,603.68. This represents a 36.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 10.50% of the company's stock.
Euronet Worldwide Company Profile
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Free Report)
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.
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