Euronet Worldwide, Inc. $EEFT Stake Boosted by Turtle Creek Asset Management Inc.

Turtle Creek Asset Management Inc. lifted its stake in Euronet Worldwide, Inc. (NASDAQ:EEFT) by 44.9% during the first quarter, HoldingsChannel reports. The fund owned 1,847,040 shares of the business services provider’s stock after purchasing an additional 572,194 shares during the quarter. Euronet Worldwide comprises approximately 4.5% of Turtle Creek Asset Management Inc.’s holdings, making the stock its 11th biggest position. Turtle Creek Asset Management Inc.’s holdings in Euronet Worldwide were worth $122,588,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of EEFT. Geneos Wealth Management Inc. grew its stake in Euronet Worldwide by 48.4% in the first 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 in the last quarter. Evergreen Capital Management LLC raised its stake in shares of Euronet Worldwide by 0.4% during the 2nd quarter. Evergreen Capital Management LLC now owns 34,035 shares of the business services provider’s stock worth $3,450,000 after purchasing an additional 129 shares in the last quarter. Parallel Advisors LLC lifted its holdings in shares of Euronet Worldwide by 23.6% during the 1st quarter. Parallel Advisors LLC now owns 775 shares of the business services provider’s stock valued at $51,000 after buying an additional 148 shares during the last quarter. Northwestern Mutual Investment Management Company LLC lifted its holdings in shares of Euronet Worldwide by 1.8% during the 4th quarter. Northwestern Mutual Investment Management Company LLC now owns 8,748 shares of the business services provider’s stock valued at $666,000 after buying an additional 158 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. grew its stake in shares of Euronet Worldwide by 1.5% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 10,817 shares of the business services provider’s stock valued at $823,000 after buying an additional 164 shares in the last quarter. 91.60% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Thomas A. Mcdonnell purchased 3,000 shares of the firm’s stock in a transaction on Tuesday, May 26th. The stock was bought at an average cost of $66.87 per share, for a total transaction of $200,610.00. Following the completion of the acquisition, the director directly owned 100,219 shares of the company’s stock, valued at approximately $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 accessible through this hyperlink. 12.19% of the stock is currently owned by corporate insiders.

Euronet Worldwide Trading Up 1.1%

NASDAQ:EEFT opened at $83.67 on Thursday. The company’s 50 day moving average is $72.49 and its 200-day moving average is $71.56. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 1.29. Euronet Worldwide, Inc. has a 12 month low of $62.50 and a 12 month high of $105.86. The firm has a market cap of $3.19 billion, a price-to-earnings ratio of 12.07, a P/E/G ratio of 0.65 and a beta of 0.83.

Euronet Worldwide (NASDAQ:EEFT) last posted its quarterly earnings data on Wednesday, April 29th. The business services provider reported $1.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.42 by $0.16. The business had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $969.68 million. Euronet Worldwide had a net margin of 7.15% and a return on equity of 28.37%. Euronet Worldwide’s quarterly revenue was up 10.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.13 EPS. Equities analysts anticipate that Euronet Worldwide, Inc. will post 9.83 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on EEFT. DA Davidson reaffirmed a “buy” rating and set a $102.00 price objective on shares of Euronet Worldwide in a research report on Friday, July 10th. Weiss Ratings upgraded shares of Euronet Worldwide from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday. Finally, Needham & Company LLC restated a “buy” rating and set a $85.00 price target on shares of Euronet Worldwide in a report on Friday, May 22nd. Three analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Euronet Worldwide currently has an average rating of “Hold” and a consensus price target of $95.00.

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.