Legal & General Group Plc Buys Shares of 50,124 Euronet Worldwide, Inc. $EEFT

Legal & General Group Plc bought a new position in shares of Euronet Worldwide, Inc. (NASDAQ:EEFT) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 50,124 shares of the business services provider’s stock, valued at approximately $3,669,000.

Several other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in Euronet Worldwide by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 3,767,279 shares of the business services provider’s stock worth $286,728,000 after buying an additional 26,416 shares in the last quarter. BlackRock Inc. purchased a new position in Euronet Worldwide during the second quarter valued at approximately $244,726,000. Bank of Montreal Can boosted its stake in Euronet Worldwide by 933.8% in the 4th quarter. Bank of Montreal Can now owns 1,993,682 shares of the business services provider’s stock worth $151,739,000 after purchasing an additional 1,800,837 shares during the period. Turtle Creek Asset Management Inc. grew its holdings in Euronet Worldwide by 44.9% during the 1st quarter. Turtle Creek Asset Management Inc. now owns 1,847,040 shares of the business services provider’s stock valued at $122,588,000 after buying an additional 572,194 shares in the last quarter. Finally, Reinhart Partners LLC. grew its holdings in Euronet Worldwide by 9.2% during the 2nd quarter. Reinhart Partners LLC. now owns 1,627,141 shares of the business services provider’s stock valued at $119,091,000 after buying an additional 136,613 shares in the last quarter. 91.60% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

EEFT has been the topic of a number of research reports. DA Davidson reaffirmed a “buy” rating and issued a $102.00 price objective on shares of Euronet Worldwide in a research note on Friday, July 10th. Weiss Ratings lowered shares of Euronet Worldwide from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday, August 11th. Wolfe Research dropped their target price on shares of Euronet Worldwide from $75.00 to $70.00 and set an “underperform” rating on the stock in a report on Tuesday, August 25th. Finally, Needham & Company LLC boosted their price target on shares of Euronet Worldwide from $85.00 to $90.00 and gave the company a “buy” rating in a report on Thursday, July 30th. Three analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $94.00.

Euronet Worldwide Price Performance

NASDAQ:EEFT opened at $73.81 on Friday. Euronet Worldwide, Inc. has a 52 week low of $62.50 and a 52 week high of $92.45. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 1.47. The stock has a market capitalization of $2.81 billion, a PE ratio of 11.59, a price-to-earnings-growth ratio of 0.59 and a beta of 0.83. The stock’s 50-day moving average price is $74.64 and its 200-day moving average price is $71.37.

Euronet Worldwide (NASDAQ:EEFT) 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%. During the same quarter last year, the business posted $2.56 earnings per share. The firm’s revenue for the quarter was up 3.2% compared to the same quarter last year. As a group, equities analysts expect that Euronet Worldwide, Inc. will post 9.55 EPS for the current fiscal year.

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.