Summit Global Investments Takes Position in Euronet Worldwide, Inc. (NASDAQ:EEFT)

Summit Global Investments purchased a new stake in Euronet Worldwide, Inc. (NASDAQ:EEFT - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 9,025 shares of the business services provider's stock, valued at approximately $928,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of EEFT. Daiwa Securities Group Inc. acquired a new position in Euronet Worldwide during the 3rd quarter worth $109,000. Quantbot Technologies LP acquired a new stake in Euronet Worldwide during the third quarter valued at approximately $4,373,000. FMR LLC lifted its holdings in Euronet Worldwide by 21.1% during the 3rd quarter. FMR LLC now owns 75,216 shares of the business services provider's stock worth $7,464,000 after buying an additional 13,093 shares during the last quarter. Bridgewater Associates LP grew its position in shares of Euronet Worldwide by 82.8% in the 3rd quarter. Bridgewater Associates LP now owns 50,132 shares of the business services provider's stock worth $4,975,000 after acquiring an additional 22,701 shares in the last quarter. Finally, CreativeOne Wealth LLC bought a new stake in shares of Euronet Worldwide in the 3rd quarter valued at approximately $260,000. Hedge funds and other institutional investors own 91.60% of the company's stock.

Euronet Worldwide Price Performance

Shares of NASDAQ:EEFT traded up $0.44 during trading on Thursday, reaching $110.06. The company had a trading volume of 343,237 shares, compared to its average volume of 316,883. The firm's fifty day moving average is $101.34 and its 200 day moving average is $101.23. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.26 and a current ratio of 1.25. The firm has a market capitalization of $4.81 billion, a PE ratio of 17.01, a price-to-earnings-growth ratio of 0.78 and a beta of 1.37. Euronet Worldwide, Inc. has a twelve month low of $91.07 and a twelve month high of $117.66.

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Euronet Worldwide (NASDAQ:EEFT - Get Free Report) last posted its quarterly earnings data on Wednesday, February 12th. The business services provider reported $1.82 earnings per share 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%. On average, equities analysts forecast that Euronet Worldwide, Inc. will post 9.11 EPS for the current year.

Insider Activity at Euronet Worldwide

In other Euronet Worldwide news, CEO Michael J. Brown sold 95,000 shares of the business's stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $100.69, for a total transaction of $9,565,550.00. Following the sale, the chief executive officer now directly owns 1,418,966 shares of the company's stock, valued at $142,875,686.54. The trade was a 6.27 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 10.50% of the stock is owned by insiders.

Analysts Set New Price Targets

EEFT has been the subject of a number of research reports. Keefe, Bruyette & Woods lifted their price objective on shares of Euronet Worldwide from $108.00 to $112.00 and gave the stock a "market perform" rating in a report on Friday, February 14th. Oppenheimer cut their price target on Euronet Worldwide from $135.00 to $128.00 and set an "outperform" rating on the stock in a report on Thursday, December 19th. Stephens reiterated an "overweight" rating and issued a $130.00 target price on shares of Euronet Worldwide in a research note on Friday, February 14th. Needham & Company LLC restated a "buy" rating and set a $120.00 price target on shares of Euronet Worldwide in a research report on Thursday, December 12th. Finally, StockNews.com downgraded shares of Euronet Worldwide from a "buy" rating to a "hold" rating in a research report on Saturday, February 22nd. Four research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $125.86.

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.