Wedge Capital Management L L P NC Buys 9,793 Shares of Euronet Worldwide, Inc. $EEFT

Wedge Capital Management L L P NC boosted its stake in Euronet Worldwide, Inc. (NASDAQ:EEFT) by 42.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 33,136 shares of the business services provider’s stock after purchasing an additional 9,793 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Euronet Worldwide were worth $2,910,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. AQR Capital Management LLC increased its stake in shares of Euronet Worldwide by 131.9% in the 2nd quarter. AQR Capital Management LLC now owns 1,308,267 shares of the business services provider’s stock valued at $132,632,000 after acquiring an additional 744,040 shares during the last quarter. Norges Bank acquired a new position in Euronet Worldwide during the second quarter valued at approximately $48,417,000. American Century Companies Inc. increased its stake in Euronet Worldwide by 20.4% in the second quarter. American Century Companies Inc. now owns 1,342,733 shares of the business services provider’s stock valued at $136,126,000 after purchasing an additional 227,597 shares in the last quarter. Lazard Asset Management LLC raised its holdings in Euronet Worldwide by 162.8% in the second quarter. Lazard Asset Management LLC now owns 267,754 shares of the business services provider’s stock worth $27,143,000 after purchasing an additional 165,885 shares during the period. Finally, Reinhart Partners LLC. boosted its position in shares of Euronet Worldwide by 21.6% during the second quarter. Reinhart Partners LLC. now owns 897,910 shares of the business services provider’s stock worth $91,032,000 after purchasing an additional 159,527 shares in the last quarter. Institutional investors own 91.60% of the company’s stock.

Euronet Worldwide Trading Up 1.7%

NASDAQ EEFT opened at $78.36 on Tuesday. Euronet Worldwide, Inc. has a 52 week low of $68.56 and a 52 week high of $114.25. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.15 and a current ratio of 1.15. The stock’s 50 day moving average price is $76.50 and its two-hundred day moving average price is $89.63. The stock has a market capitalization of $3.29 billion, a price-to-earnings ratio of 11.47, a PEG ratio of 0.68 and a beta of 0.86.

Euronet Worldwide (NASDAQ:EEFT) last issued its quarterly earnings results on Thursday, October 23rd. The business services provider reported $3.62 earnings per share for the quarter, topping the consensus estimate of $3.58 by $0.04. The company had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.20 billion. Euronet Worldwide had a net margin of 7.27% and a return on equity of 27.63%. The business’s quarterly revenue was up 4.2% on a year-over-year basis. During the same period last year, the business earned $3.03 EPS. Euronet Worldwide has set its FY 2025 guidance at 9.640-9.990 EPS. As a group, analysts anticipate that Euronet Worldwide, Inc. will post 9.11 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

EEFT has been the subject of a number of recent analyst reports. Oppenheimer lowered their price objective on shares of Euronet Worldwide from $134.00 to $133.00 and set an “outperform” rating for the company in a research report on Friday, October 17th. Wall Street Zen lowered Euronet Worldwide from a “buy” rating to a “hold” rating in a research report on Saturday, October 18th. Keefe, Bruyette & Woods cut their price objective on Euronet Worldwide from $100.00 to $95.00 and set a “market perform” rating on the stock in a report on Friday, October 24th. Weiss Ratings reissued a “hold (c-)” rating on shares of Euronet Worldwide in a research note on Monday, December 15th. Finally, Needham & Company LLC cut their price target on shares of Euronet Worldwide from $120.00 to $100.00 and set a “buy” rating on the stock in a research note on Thursday, October 23rd. Five research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $117.60.

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.