Euronet Worldwide, Inc. (NASDAQ:EEFT) Shares Bought by Meritage Portfolio Management

Meritage Portfolio Management raised its holdings in shares of Euronet Worldwide, Inc. (NASDAQ:EEFT - Free Report) by 39.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 130,380 shares of the business services provider's stock after buying an additional 36,566 shares during the period. Euronet Worldwide comprises 0.8% of Meritage Portfolio Management's portfolio, making the stock its 25th largest holding. Meritage Portfolio Management owned 0.29% of Euronet Worldwide worth $12,938,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Headlands Technologies LLC bought a new stake in Euronet Worldwide during the 1st quarter worth approximately $50,000. Covestor Ltd boosted its holdings in Euronet Worldwide by 174.9% in the 1st quarter. Covestor Ltd now owns 547 shares of the business services provider's stock worth $60,000 after buying an additional 348 shares during the period. Summit Securities Group LLC purchased a new stake in Euronet Worldwide in the 2nd quarter worth $57,000. GAMMA Investing LLC lifted its position in shares of Euronet Worldwide by 69.5% in the second quarter. GAMMA Investing LLC now owns 588 shares of the business services provider's stock valued at $61,000 after acquiring an additional 241 shares in the last quarter. Finally, 1620 Investment Advisors Inc. bought a new position in shares of Euronet Worldwide in the second quarter worth about $80,000. 91.60% of the stock is currently owned by institutional investors.

Euronet Worldwide Trading Down 1.5 %

Shares of NASDAQ:EEFT traded down $1.52 on Friday, hitting $101.98. 215,419 shares of the company's stock were exchanged, compared to its average volume of 302,101. The business's 50 day simple moving average is $99.50 and its two-hundred day simple moving average is $103.99. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.26 and a quick ratio of 1.19. The stock has a market capitalization of $4.48 billion, a price-to-earnings ratio of 14.74 and a beta of 1.46. Euronet Worldwide, Inc. has a 12 month low of $79.50 and a 12 month high of $117.66.

Euronet Worldwide (NASDAQ:EEFT - Get Free Report) last issued its earnings results on Wednesday, October 23rd. The business services provider reported $3.03 EPS for the quarter, topping analysts' consensus estimates of $2.92 by $0.11. The business had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.04 billion. Euronet Worldwide had a net margin of 8.49% and a return on equity of 26.86%. During the same period in the prior year, the firm earned $2.53 EPS. Analysts anticipate that Euronet Worldwide, Inc. will post 7.87 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Needham & Company LLC dropped their price target on Euronet Worldwide from $125.00 to $120.00 and set a "buy" rating for the company in a research note on Thursday, October 24th. DA Davidson reiterated a "buy" rating and issued a $136.00 price target on shares of Euronet Worldwide in a report on Tuesday, October 8th. Monness Crespi & Hardt raised Euronet Worldwide from a "hold" rating to a "strong-buy" rating in a report on Thursday, October 24th. Oppenheimer started coverage on Euronet Worldwide in a research note on Tuesday, October 1st. They set an "outperform" rating and a $121.00 price target for the company. Finally, StockNews.com cut shares of Euronet Worldwide from a "buy" rating to a "hold" rating in a research note on Friday, August 9th. Four investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned 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 news, CEO Juan Bianchi sold 4,000 shares of the firm's stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $102.58, for a total transaction of $410,320.00. Following the transaction, the chief executive officer now owns 12,440 shares in the company, valued at approximately $1,276,095.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. 10.50% of the stock is currently owned by corporate insiders.

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.