William Blair Investment Management LLC reduced its position in shares of Euronet Worldwide, Inc. (NASDAQ:EEFT – Free Report) by 0.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,553,693 shares of the business services provider’s stock after selling 13,724 shares during the period. Euronet Worldwide accounts for about 1.0% of William Blair Investment Management LLC’s holdings, making the stock its 14th biggest holding. William Blair Investment Management LLC owned approximately 5.14% of Euronet Worldwide worth $299,727,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Level Four Advisory Services LLC boosted its stake in Euronet Worldwide by 8.3% during the second quarter. Level Four Advisory Services LLC now owns 4,408 shares of the business services provider’s stock worth $517,000 after buying an additional 338 shares during the period. Cambiar Investors LLC boosted its stake in Euronet Worldwide by 8.7% during the second quarter. Cambiar Investors LLC now owns 103,765 shares of the business services provider’s stock worth $12,179,000 after buying an additional 8,265 shares during the period. Envestnet Asset Management Inc. boosted its stake in Euronet Worldwide by 3.5% during the first quarter. Envestnet Asset Management Inc. now owns 93,076 shares of the business services provider’s stock worth $10,415,000 after buying an additional 3,182 shares during the period. Natixis Advisors L.P. boosted its stake in Euronet Worldwide by 2.6% during the first quarter. Natixis Advisors L.P. now owns 92,216 shares of the business services provider’s stock worth $10,319,000 after buying an additional 2,300 shares during the period. Finally, SG Americas Securities LLC boosted its stake in Euronet Worldwide by 15.6% during the second quarter. SG Americas Securities LLC now owns 15,560 shares of the business services provider’s stock worth $1,826,000 after buying an additional 2,098 shares during the period. 94.63% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several research analysts have weighed in on the stock. Northland Securities lowered their target price on shares of Euronet Worldwide from $120.00 to $110.00 and set an “outperform” rating for the company in a research note on Friday, September 29th. Needham & Company LLC reissued a “buy” rating and issued a $115.00 price objective on shares of Euronet Worldwide in a research note on Monday, October 23rd. Truist Financial raised their price objective on shares of Euronet Worldwide from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Monday, October 23rd. TheStreet lowered shares of Euronet Worldwide from a “b-” rating to a “c+” rating in a research note on Thursday, August 10th. Finally, StockNews.com assumed coverage on shares of Euronet Worldwide in a research note on Thursday, October 5th. They issued a “hold” rating for the company. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Euronet Worldwide currently has a consensus rating of “Hold” and an average target price of $108.00.
Euronet Worldwide Stock Up 3.0 %
NASDAQ:EEFT traded up $2.58 during mid-day trading on Monday, hitting $87.27. The stock had a trading volume of 304,734 shares, compared to its average volume of 389,708. The stock has a 50-day simple moving average of $79.63 and a two-hundred day simple moving average of $95.56. The company has a market capitalization of $4.02 billion, a PE ratio of 15.68 and a beta of 1.38. Euronet Worldwide, Inc. has a twelve month low of $73.84 and a twelve month high of $121.55. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 1.11.
Euronet Worldwide (NASDAQ:EEFT – Get Free Report) last released its quarterly earnings data on Thursday, October 19th. The business services provider reported $2.72 earnings per share for the quarter, topping analysts’ consensus estimates of $2.52 by $0.20. Euronet Worldwide had a net margin of 7.79% and a return on equity of 24.01%. The company had revenue of $1 billion for the quarter, compared to analysts’ expectations of $943.59 million. During the same quarter last year, the company earned $2.51 earnings per share. The firm’s revenue for the quarter was up 7.8% on a year-over-year basis. On average, equities research analysts anticipate that Euronet Worldwide, Inc. will post 6.55 EPS for the current year.
Euronet Worldwide 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 card outsourcing, card issuing, and merchant acquiring services.
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