Stevens Capital Management LP Cuts Position in Euronet Worldwide, Inc. (EEFT)
Stevens Capital Management LP lessened its holdings in Euronet Worldwide, Inc. (NASDAQ:EEFT) by 23.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 26,013 shares of the business services provider’s stock after selling 8,116 shares during the quarter. Stevens Capital Management LP’s holdings in Euronet Worldwide were worth $2,273,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Fiduciary Trust Co. acquired a new stake in shares of Euronet Worldwide during the 2nd quarter worth approximately $122,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Euronet Worldwide by 10.3% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,796 shares of the business services provider’s stock worth $157,000 after purchasing an additional 167 shares during the period. World Asset Management Inc acquired a new stake in shares of Euronet Worldwide during the 2nd quarter worth approximately $201,000. Capstone Asset Management Co. acquired a new stake in shares of Euronet Worldwide during the 2nd quarter worth approximately $206,000. Finally, Keybank National Association OH acquired a new stake in shares of Euronet Worldwide during the 1st quarter worth approximately $210,000. Institutional investors own 93.90% of the company’s stock.
Euronet Worldwide, Inc. (NASDAQ EEFT) opened at 95.90 on Thursday. Euronet Worldwide, Inc. has a 12 month low of $70.51 and a 12 month high of $99.53. The stock has a market cap of $5.04 billion, a price-to-earnings ratio of 30.96 and a beta of 1.36. The stock’s 50 day moving average price is $97.00 and its 200-day moving average price is $88.97.
Euronet Worldwide (NASDAQ:EEFT) last announced its quarterly earnings data on Wednesday, July 26th. The business services provider reported $1.09 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.08 by $0.01. Euronet Worldwide had a return on equity of 22.32% and a net margin of 8.23%. The firm had revenue of $536.60 million for the quarter, compared to analyst estimates of $513.10 million. During the same quarter in the prior year, the company posted $0.97 earnings per share. Euronet Worldwide’s quarterly revenue was up 12.5% on a year-over-year basis. Equities research analysts predict that Euronet Worldwide, Inc. will post $4.55 EPS for the current year.
EEFT has been the topic of a number of analyst reports. BidaskClub raised shares of Euronet Worldwide from a “buy” rating to a “strong-buy” rating in a research note on Sunday, August 6th. Lake Street Capital initiated coverage on shares of Euronet Worldwide in a research note on Monday, June 26th. They set a “buy” rating and a $96.00 price objective on the stock. Zacks Investment Research raised shares of Euronet Worldwide from a “hold” rating to a “buy” rating and set a $102.00 price objective on the stock in a research note on Monday, July 17th. Finally, DA Davidson initiated coverage on shares of Euronet Worldwide in a research note on Wednesday, July 19th. They set a “buy” rating and a $105.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $100.20.
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In related news, CEO Michael J. Brown sold 60,000 shares of the company’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $96.49, for a total transaction of $5,789,400.00. Following the transaction, the chief executive officer now owns 1,605,886 shares of the company’s stock, valued at $154,951,940.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Jeffrey B. Newman sold 24,535 shares of the company’s stock in a transaction on Monday, July 24th. The stock was sold at an average price of $92.01, for a total value of $2,257,465.35. Following the transaction, the vice president now directly owns 16,918 shares in the company, valued at approximately $1,556,625.18. The disclosure for this sale can be found here. Insiders have sold 306,574 shares of company stock worth $29,668,269 in the last ninety days. 7.70% of the stock is currently owned by corporate insiders.
Euronet Worldwide Company Profile
Euronet Worldwide, Inc is an electronic payments provider. The Company offers payment and transaction processing and distribution solutions to financial institutions, retailers, service providers and individual consumers. Its product offerings include automated teller machine (ATM), point-of-sale (POS), card outsourcing, card issuing and merchant acquiring services, electronic distribution of prepaid mobile airtime and other electronic payment products.
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