William Blair Investment Management LLC Acquires New Position in Euronet Worldwide, Inc. $EEFT

William Blair Investment Management LLC acquired a new stake in Euronet Worldwide, Inc. (NASDAQ:EEFT) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor acquired 315,386 shares of the business services provider’s stock, valued at approximately $23,083,000.

Other hedge funds have also added to or reduced their stakes in the company. Geneos Wealth Management Inc. raised its stake in shares of Euronet Worldwide by 48.4% during the first quarter. Geneos Wealth Management Inc. now owns 334 shares of the business services provider’s stock valued at $36,000 after acquiring an additional 109 shares in the last quarter. Evergreen Capital Management LLC grew its stake in Euronet Worldwide by 0.4% in the second 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 grew its stake in Euronet Worldwide by 23.6% in the first quarter. Parallel Advisors LLC now owns 775 shares of the business services provider’s stock worth $51,000 after purchasing an additional 148 shares in the last quarter. Northwestern Mutual Investment Management Company LLC increased its holdings in 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 worth $666,000 after purchasing an additional 158 shares during the period. Finally, Oppenheimer Asset Management Inc. increased its holdings in Euronet Worldwide by 1.5% during the 4th quarter. Oppenheimer Asset Management Inc. now owns 10,817 shares of the business services provider’s stock worth $823,000 after purchasing an additional 164 shares during the period. 91.60% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Thomas A. Mcdonnell purchased 3,000 shares of Euronet Worldwide stock in a transaction dated Tuesday, May 26th. The stock was purchased at an average cost of $66.87 per share, with a total value of $200,610.00. Following the transaction, the director 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 document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 12.19% of the company’s stock.

Euronet Worldwide Stock Performance

Shares of EEFT stock opened at $70.07 on Friday. The firm has a market cap of $2.67 billion, a price-to-earnings ratio of 11.00, a PEG ratio of 0.56 and a beta of 0.82. The company’s 50 day moving average is $73.80 and its 200 day moving average is $71.39. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 1.47. Euronet Worldwide, Inc. has a 52-week low of $62.50 and a 52-week high of $98.52.

Euronet Worldwide (NASDAQ:EEFT) last posted its earnings results on Thursday, July 30th. The business services provider reported $2.82 earnings per share for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.11). Euronet Worldwide had a return on equity of 28.60% and a net margin of 6.63%.Euronet Worldwide’s quarterly 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. On average, sell-side analysts anticipate that Euronet Worldwide, Inc. will post 9.55 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Weiss Ratings cut Euronet Worldwide from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday, August 11th. 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 note on Thursday, July 30th. Finally, DA Davidson restated a “buy” rating and issued a $102.00 price objective on shares of Euronet Worldwide in a report on Friday, July 10th. Three research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $96.00.

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.