Oppenheimer Asset Management Inc. Acquires Shares of 11,834 Euronet Worldwide, Inc. $EEFT

Oppenheimer Asset Management Inc. bought a new position in Euronet Worldwide, Inc. (NASDAQ:EEFT) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 11,834 shares of the business services provider’s stock, valued at approximately $866,000.

A number of other institutional investors have also modified their holdings of EEFT. Walleye Trading LLC purchased a new stake in shares of Euronet Worldwide in the second quarter valued at approximately $1,068,000. Wedge Capital Management L L P NC grew its stake in Euronet Worldwide by 42.9% in the second quarter. Wedge Capital Management L L P NC now owns 53,878 shares of the business services provider’s stock worth $3,943,000 after purchasing an additional 16,169 shares in the last quarter. Handelsbanken Fonder AB increased its holdings in Euronet Worldwide by 3.8% during the 2nd quarter. Handelsbanken Fonder AB now owns 10,830 shares of the business services provider’s stock worth $793,000 after purchasing an additional 400 shares during the period. Reinhart Partners LLC. increased its holdings in Euronet Worldwide by 9.2% during the 2nd quarter. Reinhart Partners LLC. now owns 1,627,141 shares of the business services provider’s stock worth $119,091,000 after purchasing an additional 136,613 shares during the period. Finally, CX Institutional increased its holdings in Euronet Worldwide by 10.7% during the 2nd quarter. CX Institutional now owns 86,453 shares of the business services provider’s stock worth $6,327,000 after purchasing an additional 8,360 shares during the period. 91.60% of the stock is owned by hedge funds and other institutional investors.

Euronet Worldwide Price Performance

Shares of EEFT opened at $73.20 on Monday. The company has a 50 day moving average of $73.42 and a two-hundred day moving average of $71.49. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 1.47. Euronet Worldwide, Inc. has a twelve month low of $62.50 and a twelve month high of $98.52. The company has a market cap of $2.79 billion, a price-to-earnings ratio of 11.49, a price-to-earnings-growth ratio of 0.59 and a beta of 0.82.

Euronet Worldwide (NASDAQ:EEFT) last issued its quarterly earnings results on Thursday, July 30th. The business services provider reported $2.82 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.11). Euronet Worldwide had a return on equity of 28.60% and a net margin of 6.63%.During the same period last year, the company earned $2.56 EPS. The firm’s quarterly revenue was up 3.2% on a year-over-year basis. As a group, analysts predict that Euronet Worldwide, Inc. will post 9.55 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have weighed in on EEFT. DA Davidson reiterated a “buy” rating and issued a $102.00 target price on shares of Euronet Worldwide in a report on Friday, July 10th. Needham & Company LLC raised their price target on Euronet Worldwide from $85.00 to $90.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. Finally, Weiss Ratings downgraded Euronet Worldwide from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday, August 11th. Three equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $96.00.

Insiders Place Their Bets

In other Euronet Worldwide news, Director Thomas A. Mcdonnell bought 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 26th. The shares were purchased at an average cost of $66.87 per share, for a total transaction of $200,610.00. Following the purchase, the director directly owned 100,219 shares in the company, valued at $6,701,644.53. This represents a 3.09% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 12.19% of the stock is currently owned by company insiders.

Euronet Worldwide Profile

Euronet Worldwide, Inc is a global financial technology company specializing in electronic payment services and transaction processing. Through its three primary business segments—Electronic Funds Transfer (EFT) Network Services, epay® Prepaid and Payment Services, and Money Transfer—Euronet provides end-to-end solutions that enable secure, efficient and convenient payments for consumers, financial institutions and retailers worldwide.

In its EFT Network Services arm, Euronet operates one of the world’s largest ATM and point-of-sale (POS) terminal networks, offering deployment, management and connectivity services.