William Blair Investment Management LLC Purchases New Shares in Euronet Worldwide, Inc. $EEFT

Key Points

• William Blair Investment Management purchased 315,386 shares of Euronet Worldwide worth approximately $23.1 million, acquiring a 0.83% stake. Institutional investors collectively own 91.60% of the company.
• Analyst sentiment is mixed: Needham raised its price target to $90 and DA Davidson maintained a Buy rating, while the overall consensus remains “Hold” with an average price target of $96.
• Euronet shares opened at $70.07, while the company’s latest quarterly EPS of $2.82 fell short of the $2.93 consensus estimate; revenue nevertheless increased 3.2% year over year.

William Blair Investment Management LLC bought a new stake in shares of Euronet Worldwide, Inc. (NASDAQ:EEFT - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 315,386 shares of the business services provider's stock, valued at approximately $23,083,000. William Blair Investment Management LLC owned approximately 0.83% of Euronet Worldwide at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in EEFT. Goldman Sachs Group Inc. grew its position in Euronet Worldwide by 17.0% in the first quarter. Goldman Sachs Group Inc. now owns 628,384 shares of the business services provider's stock worth $67,143,000 after acquiring an additional 91,348 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Euronet Worldwide by 4.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 121,475 shares of the business services provider's stock valued at $12,980,000 after purchasing an additional 5,009 shares during the period. Focus Partners Wealth purchased a new stake in Euronet Worldwide during the first quarter valued at approximately $202,000. Geneos Wealth Management Inc. lifted its stake in shares of Euronet Worldwide by 48.4% in the 1st quarter. Geneos Wealth Management Inc. now owns 334 shares of the business services provider's stock valued at $36,000 after purchasing an additional 109 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of Euronet Worldwide by 422.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,631 shares of the business services provider's stock valued at $165,000 after purchasing an additional 1,319 shares during the last quarter. Institutional investors own 91.60% of the company's stock.

Insider Activity

In other Euronet Worldwide news, Director Thomas A. Mcdonnell acquired 3,000 shares of the company's stock in a transaction that occurred on Tuesday, May 26th. The stock was bought at an average price of $66.87 per share, for a total transaction of $200,610.00. Following the acquisition, the director directly owned 100,219 shares in the company, valued at $6,701,644.53. The trade was a 3.09% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 12.19% of the company's stock.

Analyst Ratings Changes

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

Euronet Worldwide Stock Up 1.0%

Shares of NASDAQ EEFT opened at $70.07 on Friday. The company has a debt-to-equity ratio of 1.47, a current ratio of 1.37 and a quick ratio of 1.37. The company has a market cap of $2.67 billion, a P/E ratio of 11.00, a PEG ratio of 0.56 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 has a 50-day simple moving average of $73.80 and a two-hundred day simple moving average of $71.39.

Euronet Worldwide (NASDAQ:EEFT - Get Free Report) last announced its 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 net margin of 6.63% and a return on equity of 28.60%. Euronet Worldwide's revenue was up 3.2% compared to the same quarter last year. During the same period in the previous year, the business posted $2.56 EPS. Research analysts anticipate that Euronet Worldwide, Inc. will post 9.55 earnings per share for the current year.

Euronet Worldwide Company 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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