Summit Global Investments Purchases Shares of 9,025 Euronet Worldwide, Inc. (NASDAQ:EEFT)

Summit Global Investments purchased a new stake in shares of Euronet Worldwide, Inc. (NASDAQ:EEFT) during the 4th quarter, according to the company in its most recent filing with the SEC. The fund purchased 9,025 shares of the business services provider’s stock, valued at approximately $928,000.

Several other large investors have also added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC grew its stake in Euronet Worldwide by 0.5% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 3,372,449 shares of the business services provider’s stock valued at $340,955,000 after purchasing an additional 16,220 shares during the last quarter. Hotchkis & Wiley Capital Management LLC grew its stake in Euronet Worldwide by 13.6% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 1,064,233 shares of the business services provider’s stock valued at $105,604,000 after purchasing an additional 127,240 shares during the last quarter. Wasatch Advisors LP grew its stake in Euronet Worldwide by 45.8% during the 3rd quarter. Wasatch Advisors LP now owns 716,539 shares of the business services provider’s stock valued at $71,102,000 after purchasing an additional 224,982 shares during the last quarter. Reinhart Partners LLC. grew its stake in Euronet Worldwide by 3.4% during the 4th quarter. Reinhart Partners LLC. now owns 627,149 shares of the business services provider’s stock valued at $64,496,000 after purchasing an additional 20,824 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in Euronet Worldwide by 1.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 566,002 shares of the business services provider’s stock valued at $58,208,000 after purchasing an additional 8,015 shares during the last quarter. Hedge funds and other institutional investors own 91.60% of the company’s stock.

Insider Buying and Selling at Euronet Worldwide

In other Euronet Worldwide news, CEO Michael J. Brown sold 95,000 shares of the stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $100.69, for a total transaction of $9,565,550.00. Following the completion of the transaction, the chief executive officer now owns 1,418,966 shares of the company’s stock, valued at $142,875,686.54. This represents a 6.27 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 10.50% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on EEFT shares. Stephens reissued an “overweight” rating and issued a $130.00 price objective on shares of Euronet Worldwide in a report on Friday, February 14th. Keefe, Bruyette & Woods boosted their price objective on Euronet Worldwide from $108.00 to $112.00 and gave the company a “market perform” rating in a report on Friday, February 14th. StockNews.com cut Euronet Worldwide from a “buy” rating to a “hold” rating in a report on Saturday, February 22nd. Oppenheimer decreased their price objective on Euronet Worldwide from $135.00 to $128.00 and set an “outperform” rating for the company in a report on Thursday, December 19th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $120.00 price objective on shares of Euronet Worldwide in a report on Thursday, December 12th. Four equities research 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 company’s stock. According to data from MarketBeat.com, Euronet Worldwide currently has a consensus rating of “Moderate Buy” and an average target price of $127.00.

Euronet Worldwide Stock Performance

NASDAQ EEFT opened at $108.01 on Monday. The stock has a market capitalization of $4.72 billion, a price-to-earnings ratio of 16.69, a PEG 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. The company has a current ratio of 1.25, a quick ratio of 1.26 and a debt-to-equity ratio of 0.92. The stock has a 50-day moving average of $100.72 and a 200 day moving average of $101.07.

Euronet Worldwide (NASDAQ:EEFT) last released its quarterly earnings results on Wednesday, February 12th. The business services provider reported $1.82 earnings per share for the quarter, missing analysts’ consensus estimates of $2.05 by ($0.23). Euronet Worldwide had a return on equity of 27.74% and a net margin of 7.69%. Sell-side analysts anticipate that Euronet Worldwide, Inc. will post 9.11 EPS for the current fiscal year.

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.