Meeder Asset Management Inc. Raises Stock Position in Euronet Worldwide, Inc. (NASDAQ:EEFT)

Meeder Asset Management Inc. grew its position in Euronet Worldwide, Inc. (NASDAQ:EEFT - Free Report) by 940.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 43,152 shares of the business services provider's stock after acquiring an additional 39,003 shares during the quarter. Meeder Asset Management Inc. owned about 0.10% of Euronet Worldwide worth $4,282,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Los Angeles Capital Management LLC bought a new position in Euronet Worldwide in the 3rd quarter valued at $15,258,000. Lazard Asset Management LLC increased its stake in Euronet Worldwide by 6,250.4% in the 1st quarter. Lazard Asset Management LLC now owns 141,932 shares of the business services provider's stock worth $15,602,000 after buying an additional 139,697 shares during the period. Kodai Capital Management LP lifted its holdings in Euronet Worldwide by 57.9% during the 1st quarter. Kodai Capital Management LP now owns 369,209 shares of the business services provider's stock valued at $40,587,000 after buying an additional 135,416 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Euronet Worldwide by 17.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 755,190 shares of the business services provider's stock valued at $78,172,000 after buying an additional 113,685 shares during the period. Finally, Marshall Wace LLP purchased a new stake in Euronet Worldwide in the 2nd quarter valued at about $9,047,000. Institutional investors own 91.60% of the company's stock.

Wall Street Analysts Forecast Growth

EEFT has been the subject of several research analyst reports. StockNews.com raised shares of Euronet Worldwide from a "hold" rating to a "buy" rating in a research note on Tuesday, November 12th. 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. Citigroup downgraded Euronet Worldwide from a "buy" rating to a "neutral" rating and dropped their price target for the stock from $118.00 to $110.00 in a research report on Friday, October 18th. Oppenheimer assumed coverage on Euronet Worldwide in a report on Tuesday, October 1st. They issued an "outperform" rating and a $121.00 price objective for the company. Finally, Needham & Company LLC dropped their target price on shares of 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 assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Euronet Worldwide has a consensus rating of "Moderate Buy" and a consensus price target of $125.38.

Insider Buying and Selling at Euronet Worldwide

In other Euronet Worldwide news, CEO Juan Bianchi sold 4,000 shares of the company's stock in a transaction dated 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 owns 12,440 shares in the company, valued at approximately $1,276,095.20. This represents a 24.33 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 10.50% of the stock is currently owned by corporate insiders.

Euronet Worldwide Stock Performance

EEFT traded down $0.64 during trading on Tuesday, reaching $100.98. 244,815 shares of the company's stock were exchanged, compared to its average volume of 303,654. The company's fifty day simple moving average is $99.57 and its 200-day simple moving average is $103.86. The stock has a market capitalization of $4.44 billion, a P/E ratio of 14.59 and a beta of 1.46. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.26 and a quick ratio of 1.26. Euronet Worldwide, Inc. has a 1 year low of $84.40 and a 1 year high of $117.66.

Euronet Worldwide (NASDAQ:EEFT - Get Free Report) last posted its earnings results on Wednesday, October 23rd. The business services provider reported $3.03 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $1.04 billion. During the same period in the previous year, the firm posted $2.53 earnings per share. As a group, research analysts predict that Euronet Worldwide, Inc. will post 7.87 earnings per share for the current fiscal year.

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.