Meeder Asset Management Inc. Buys 39,003 Shares of Euronet Worldwide, Inc. (NASDAQ:EEFT)

Meeder Asset Management Inc. raised its position in Euronet Worldwide, Inc. (NASDAQ:EEFT) by 940.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 43,152 shares of the business services provider’s stock after acquiring an additional 39,003 shares during the period. Meeder Asset Management Inc. owned approximately 0.10% of Euronet Worldwide worth $4,282,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Clearbridge Investments LLC grew its holdings in shares of Euronet Worldwide by 4.5% during the first quarter. Clearbridge Investments LLC now owns 567,058 shares of the business services provider’s stock valued at $62,337,000 after buying an additional 24,566 shares during the last quarter. Ellsworth Advisors LLC acquired a new stake in Euronet Worldwide in the second quarter valued at approximately $514,000. SG Capital Management LLC grew its stake in Euronet Worldwide by 106.8% in the 1st quarter. SG Capital Management LLC now owns 41,934 shares of the business services provider’s stock valued at $4,610,000 after acquiring an additional 21,654 shares during the period. Burgundy Asset Management Ltd. increased its stake in shares of Euronet Worldwide by 1.4% during the second quarter. Burgundy Asset Management Ltd. now owns 767,293 shares of the business services provider’s stock worth $79,415,000 after purchasing an additional 10,689 shares in the last quarter. Finally, Savant Capital LLC increased its stake in Euronet Worldwide by 199.3% during the 2nd quarter. Savant Capital LLC now owns 8,928 shares of the business services provider’s stock worth $924,000 after buying an additional 5,945 shares in the last quarter. Institutional investors and hedge funds own 91.60% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Juan Bianchi sold 4,000 shares of the stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $102.58, for a total value of $410,320.00. Following the completion of the sale, the chief executive officer now directly owns 12,440 shares of the company’s stock, valued at approximately $1,276,095.20. This represents a 24.33 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 10.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on EEFT shares. StockNews.com upgraded shares of Euronet Worldwide from a “hold” rating to a “buy” rating in a research report on Tuesday, November 12th. Monness Crespi & Hardt raised Euronet Worldwide from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 24th. Citigroup cut shares of Euronet Worldwide from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $118.00 to $110.00 in a research report on Friday, October 18th. DA Davidson restated a “buy” rating and set a $136.00 target price on shares of Euronet Worldwide in a report on Tuesday, October 8th. Finally, Needham & Company LLC dropped their price target on shares of Euronet Worldwide from $125.00 to $120.00 and set a “buy” rating for the company in a research note on Thursday, October 24th. Three equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Euronet Worldwide has an average rating of “Moderate Buy” and an average price target of $125.38.

Euronet Worldwide Stock Performance

Shares of Euronet Worldwide stock opened at $101.62 on Tuesday. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.88. Euronet Worldwide, Inc. has a 52 week low of $84.40 and a 52 week high of $117.66. The firm’s 50 day moving average is $99.49 and its two-hundred day moving average is $103.93. The firm has a market capitalization of $4.46 billion, a P/E ratio of 14.68 and a beta of 1.46.

Euronet Worldwide (NASDAQ:EEFT) last posted its earnings results on Wednesday, October 23rd. The business services provider reported $3.03 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 firm had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.04 billion. During the same period last year, the firm posted $2.53 EPS. Research analysts forecast that Euronet Worldwide, Inc. will post 7.87 EPS for the current fiscal 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 and prepaid card outsourcing, card issuing, and merchant acquiring services.