Meeder Asset Management Inc. Grows Stock Holdings in Euronet Worldwide, Inc. (NASDAQ:EEFT)

Meeder Asset Management Inc. raised its stake in shares of Euronet Worldwide, Inc. (NASDAQ:EEFT) by 940.1% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund 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.’s holdings in Euronet Worldwide were worth $4,282,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in EEFT. Summit Securities Group LLC purchased a new stake in shares of Euronet Worldwide during the second quarter worth approximately $57,000. Covestor Ltd raised its position in Euronet Worldwide by 174.9% during 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 last quarter. GAMMA Investing LLC lifted its stake in shares of Euronet Worldwide by 69.5% in the 2nd quarter. GAMMA Investing LLC now owns 588 shares of the business services provider’s stock worth $61,000 after acquiring an additional 241 shares during the period. 1620 Investment Advisors Inc. purchased a new stake in shares of Euronet Worldwide in the second quarter valued at about $80,000. Finally, Mendota Financial Group LLC purchased a new stake in shares of Euronet Worldwide in the third quarter valued at about $100,000. 91.60% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Euronet Worldwide

In other news, CEO Juan Bianchi sold 4,000 shares of the business’s stock in a transaction that occurred on 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 of the company’s stock, valued at $1,276,095.20. The trade was a 24.33 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 10.50% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

EEFT has been the subject of several analyst reports. StockNews.com raised shares of Euronet Worldwide from a “hold” rating to a “buy” rating in a 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. DA Davidson restated a “buy” rating and issued a $136.00 price target on shares of Euronet Worldwide in a research note on Tuesday, October 8th. Oppenheimer initiated coverage on Euronet Worldwide in a research report on Tuesday, October 1st. They issued an “outperform” rating and a $121.00 price objective for the company. Finally, Needham & Company LLC reduced their target price on Euronet Worldwide from $125.00 to $120.00 and set a “buy” rating for the company in a report on Thursday, October 24th. Three investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $125.38.

Euronet Worldwide Trading Down 0.3 %

Shares of EEFT stock opened at $101.62 on Tuesday. The stock has a market cap of $4.46 billion, a P/E ratio of 14.68 and a beta of 1.46. 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 fifty-two week low of $84.40 and a fifty-two week high of $117.66. The business has a fifty day simple moving average of $99.49 and a 200-day simple moving average of $103.93.

Euronet Worldwide (NASDAQ:EEFT) last announced its earnings results on Wednesday, October 23rd. The business services provider reported $3.03 earnings per share (EPS) for the quarter, topping 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 analysts’ expectations of $1.04 billion. During the same quarter in the previous year, the business posted $2.53 earnings per share. On average, analysts forecast that Euronet Worldwide, Inc. will post 7.87 earnings per share 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.