Euronet Worldwide, Inc. (NASDAQ:EEFT) Shares Bought by ABS Direct Equity Fund LLC

ABS Direct Equity Fund LLC raised its holdings in Euronet Worldwide, Inc. (NASDAQ:EEFT) by 21.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 30,000 shares of the business services provider’s stock after purchasing an additional 5,364 shares during the period. Euronet Worldwide comprises 3.3% of ABS Direct Equity Fund LLC’s holdings, making the stock its 11th largest position. ABS Direct Equity Fund LLC owned about 0.07% of Euronet Worldwide worth $2,977,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. CWM LLC increased its stake in shares of Euronet Worldwide by 87.7% during the second quarter. CWM LLC now owns 1,860 shares of the business services provider’s stock worth $193,000 after purchasing an additional 869 shares in the last quarter. SG Americas Securities LLC lifted its position in shares of Euronet Worldwide by 99.4% in the second quarter. SG Americas Securities LLC now owns 9,039 shares of the business services provider’s stock valued at $936,000 after acquiring an additional 4,507 shares in the last quarter. Envestnet Portfolio Solutions Inc. boosted its stake in shares of Euronet Worldwide by 11.4% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 2,328 shares of the business services provider’s stock worth $241,000 after acquiring an additional 239 shares during the last quarter. Wedge Capital Management L L P NC increased its position in shares of Euronet Worldwide by 10.9% during the second quarter. Wedge Capital Management L L P NC now owns 19,374 shares of the business services provider’s stock worth $2,005,000 after purchasing an additional 1,903 shares in the last quarter. Finally, Fiduciary Financial Group LLC acquired a new position in Euronet Worldwide in the 2nd quarter valued at $254,000. 91.60% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

EEFT has been the topic of several recent research reports. Oppenheimer lifted their target price on shares of Euronet Worldwide from $121.00 to $135.00 and gave the stock an “outperform” rating in a research note on Monday, November 25th. Monness Crespi & Hardt raised shares of Euronet Worldwide from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 24th. DA Davidson reiterated a “buy” rating and issued a $136.00 price objective on shares of Euronet Worldwide in a report on Tuesday, October 8th. StockNews.com upgraded Euronet Worldwide from a “hold” rating to a “buy” rating in a report on Tuesday, November 12th. Finally, Citigroup cut Euronet Worldwide from a “buy” rating to a “neutral” rating and cut their price target for the company from $118.00 to $110.00 in a report on Friday, October 18th. Three research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Euronet Worldwide currently has an average rating of “Moderate Buy” and a consensus price target of $127.13.

Insiders Place Their Bets

In related news, SVP Martin L. Bruckner sold 9,397 shares of the stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $107.31, for a total transaction of $1,008,392.07. Following the transaction, the senior vice president now owns 39,983 shares of the company’s stock, valued at approximately $4,290,575.73. This represents a 19.03 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Kevin J. Caponecchi sold 52,034 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $106.61, for a total value of $5,547,344.74. Following the transaction, the chief executive officer now owns 90,288 shares of the company’s stock, valued at $9,625,603.68. This trade represents a 36.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 10.50% of the stock is currently owned by insiders.

Euronet Worldwide Trading Up 0.2 %

EEFT opened at $103.62 on Tuesday. The stock has a market capitalization of $4.55 billion, a PE ratio of 14.97, a P/E/G ratio of 0.94 and a beta of 1.44. Euronet Worldwide, Inc. has a one year low of $90.41 and a one year high of $117.66. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.26 and a current ratio of 1.26. The business’s 50 day moving average price is $101.12 and its 200 day moving average price is $102.93.

Euronet Worldwide (NASDAQ:EEFT) last announced its quarterly earnings results on Wednesday, October 23rd. The business services provider reported $3.03 EPS for the quarter, beating the consensus estimate of $2.92 by $0.11. The business had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.04 billion. Euronet Worldwide had a return on equity of 26.86% and a net margin of 8.49%. During the same quarter in the prior year, the company posted $2.53 EPS. As a group, equities research analysts expect that Euronet Worldwide, Inc. will post 7.87 EPS for the current year.

About Euronet Worldwide

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.