Wedge Capital Management L L P NC Has $3.94 Million Stake in Euronet Worldwide, Inc. $EEFT

Key Points

• Wedge Capital Management increased its Euronet Worldwide stake by 42.9% in the second quarter, owning 53,878 shares worth approximately $3.94 million. Institutional investors and hedge funds collectively own 91.6% of EEFT.
• Euronet shares were trading at $74.23 after rising 4.3%, while the company reported quarterly EPS of $2.82, below the $2.93 consensus estimate. Revenue nevertheless increased 3.2% year over year.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and a $96 price target; Needham raised its target to $90, while DA Davidson maintained a “Buy” rating with a $102 target.

Wedge Capital Management L L P NC lifted its stake in Euronet Worldwide, Inc. (NASDAQ:EEFT - Free Report) by 42.9% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 53,878 shares of the business services provider's stock after acquiring an additional 16,169 shares during the period. Wedge Capital Management L L P NC owned 0.14% of Euronet Worldwide worth $3,943,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in Euronet Worldwide by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 3,767,279 shares of the business services provider's stock valued at $286,728,000 after purchasing an additional 26,416 shares during the last quarter. Bank of Montreal Can raised its position in shares of Euronet Worldwide by 933.8% in the fourth quarter. Bank of Montreal Can now owns 1,993,682 shares of the business services provider's stock valued at $151,739,000 after purchasing an additional 1,800,837 shares during the period. Turtle Creek Asset Management Inc. lifted its stake in shares of Euronet Worldwide by 44.9% in the first quarter. Turtle Creek Asset Management Inc. now owns 1,847,040 shares of the business services provider's stock worth $122,588,000 after buying an additional 572,194 shares during the last quarter. Reinhart Partners LLC. lifted its stake in shares of Euronet Worldwide by 9.2% in the second quarter. Reinhart Partners LLC. now owns 1,627,141 shares of the business services provider's stock worth $119,091,000 after buying an additional 136,613 shares during the last quarter. Finally, Janus Henderson Group PLC boosted its holdings in shares of Euronet Worldwide by 3.6% during the 1st quarter. Janus Henderson Group PLC now owns 1,406,556 shares of the business services provider's stock worth $93,353,000 after buying an additional 48,990 shares during the period. 91.60% of the stock is currently owned by institutional investors and hedge funds.

Euronet Worldwide Trading Up 4.3%

Shares of EEFT stock opened at $74.23 on Friday. The firm has a market capitalization of $2.83 billion, a P/E ratio of 11.65, a price-to-earnings-growth ratio of 0.57 and a beta of 0.82. Euronet Worldwide, Inc. has a 1 year low of $62.50 and a 1 year high of $98.52. The firm's fifty day simple moving average is $73.29 and its 200 day simple moving average is $71.50. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 1.47.

Euronet Worldwide (NASDAQ:EEFT - Get Free Report) last posted its quarterly earnings results on Thursday, July 30th. The business services provider reported $2.82 earnings per share (EPS) for the quarter, missing the consensus estimate 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 quarter last year, the business earned $2.56 earnings per share. The business's revenue for the quarter was up 3.2% compared to the same quarter last year. As a group, sell-side analysts predict that Euronet Worldwide, Inc. will post 9.55 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently commented on EEFT shares. Weiss Ratings downgraded shares of Euronet Worldwide from a "hold (c)" rating to a "hold (c-)" rating in a report on Tuesday. DA Davidson restated a "buy" rating and set a $102.00 price target on shares of Euronet Worldwide in a report on Friday, July 10th. Finally, 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 report on Thursday, July 30th. Three investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Euronet Worldwide has a consensus rating of "Hold" and a consensus price target of $96.00.

Insider Transactions at Euronet Worldwide

In other news, Director Thomas A. Mcdonnell purchased 3,000 shares of the business's stock in a transaction on Tuesday, May 26th. The stock was purchased at an average price of $66.87 per share, with a total value of $200,610.00. Following the acquisition, the director directly owned 100,219 shares in the company, valued at approximately $6,701,644.53. The trade was a 3.09% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. 12.19% of the stock is owned by corporate 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.

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