Reinhart Partners LLC. Acquires 111,234 Shares of Euronet Worldwide, Inc. (NASDAQ:EEFT)

Reinhart Partners LLC. raised its stake in Euronet Worldwide, Inc. (NASDAQ:EEFT - Free Report) by 17.7% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 738,383 shares of the business services provider's stock after purchasing an additional 111,234 shares during the quarter. Euronet Worldwide comprises approximately 2.9% of Reinhart Partners LLC.'s holdings, making the stock its 11th biggest holding. Reinhart Partners LLC. owned approximately 1.71% of Euronet Worldwide worth $78,896,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC increased its position in shares of Euronet Worldwide by 0.5% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 3,372,449 shares of the business services provider's stock worth $340,955,000 after purchasing an additional 16,220 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in shares of Euronet Worldwide by 1.5% in the 4th quarter. Janus Henderson Group PLC now owns 1,386,382 shares of the business services provider's stock valued at $142,575,000 after buying an additional 20,805 shares during the period. Burgundy Asset Management Ltd. boosted its holdings in shares of Euronet Worldwide by 21.0% in the 4th quarter. Burgundy Asset Management Ltd. now owns 1,096,300 shares of the business services provider's stock valued at $112,743,000 after buying an additional 190,453 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Euronet Worldwide by 3.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 821,777 shares of the business services provider's stock worth $84,512,000 after acquiring an additional 24,569 shares during the period. Finally, Wasatch Advisors LP lifted its stake in shares of Euronet Worldwide by 1.0% in the 4th quarter. Wasatch Advisors LP now owns 723,785 shares of the business services provider's stock worth $74,434,000 after acquiring an additional 7,246 shares during the period. Institutional investors and hedge funds own 91.60% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on EEFT shares. Keefe, Bruyette & Woods cut their target price on shares of Euronet Worldwide from $112.00 to $110.00 and set a "market perform" rating for the company in a research report on Friday, April 25th. Stephens reiterated an "overweight" rating and issued a $130.00 target price on shares of Euronet Worldwide in a report on Friday, February 14th. Needham & Company LLC dropped their target price on shares of Euronet Worldwide from $130.00 to $120.00 and set a "buy" rating on the stock in a report on Friday, April 25th. Wall Street Zen downgraded shares of Euronet Worldwide from a "buy" rating to a "hold" rating in a report on Saturday, February 22nd. Finally, William Blair reiterated an "outperform" rating on shares of Euronet Worldwide in a report on Thursday, April 24th. Three equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $125.57.

Euronet Worldwide Trading Up 2.0%

Shares of EEFT traded up $2.14 on Friday, reaching $111.87. 382,009 shares of the company's stock were exchanged, compared to its average volume of 366,856. 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 market capitalization of $4.84 billion, a P/E ratio of 17.29, a price-to-earnings-growth ratio of 0.78 and a beta of 1.27. The business has a 50 day moving average price of $102.20 and a two-hundred day moving average price of $102.38. Euronet Worldwide, Inc. has a 12 month low of $85.24 and a 12 month high of $113.41.

Euronet Worldwide (NASDAQ:EEFT - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The business services provider reported $1.13 earnings per share for the quarter, hitting analysts' consensus estimates of $1.13. Euronet Worldwide had a net margin of 7.69% and a return on equity of 27.74%. The business had revenue of $915.50 million during the quarter, compared to the consensus estimate of $908.93 million. During the same period in the previous year, the firm posted $1.28 earnings per share. Euronet Worldwide's revenue for the quarter was up 6.8% compared to the same quarter last year. Research analysts anticipate that Euronet Worldwide, Inc. will post 9.11 earnings per share for the current year.

Insider Activity

In other news, CEO Michael J. Brown sold 95,000 shares of the company's stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $100.69, for a total value of $9,565,550.00. Following the completion of the transaction, the chief executive officer now owns 1,418,966 shares in the company, valued at $142,875,686.54. This represents a 6.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 11.20% of the company's stock.

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.