Burgundy Asset Management Ltd. Increases Stock Holdings in Euronet Worldwide, Inc. (NASDAQ:EEFT)

Burgundy Asset Management Ltd. boosted its position in shares of Euronet Worldwide, Inc. (NASDAQ:EEFT) by 1.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 767,293 shares of the business services provider’s stock after purchasing an additional 10,689 shares during the period. Burgundy Asset Management Ltd.’s holdings in Euronet Worldwide were worth $79,415,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Arizona State Retirement System increased its position in shares of Euronet Worldwide by 1.1% during the 2nd quarter. Arizona State Retirement System now owns 12,176 shares of the business services provider’s stock worth $1,260,000 after purchasing an additional 135 shares during the last quarter. Vanguard Personalized Indexing Management LLC increased its position in shares of Euronet Worldwide by 6.5% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 2,350 shares of the business services provider’s stock valued at $243,000 after acquiring an additional 143 shares during the last quarter. State of Michigan Retirement System increased its position in shares of Euronet Worldwide by 1.9% during the first quarter. State of Michigan Retirement System now owns 10,717 shares of the business services provider’s stock valued at $1,178,000 after acquiring an additional 200 shares during the last quarter. Fifth Third Bancorp raised its stake in shares of Euronet Worldwide by 14.7% in the 2nd quarter. Fifth Third Bancorp now owns 1,588 shares of the business services provider’s stock valued at $164,000 after acquiring an additional 203 shares during the period. Finally, State Board of Administration of Florida Retirement System lifted its holdings in shares of Euronet Worldwide by 0.4% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 54,289 shares of the business services provider’s stock worth $6,075,000 after acquiring an additional 215 shares during the last quarter. 91.60% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Thomas A. Mcdonnell bought 3,206 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was purchased at an average price of $93.86 per share, for a total transaction of $300,915.16. Following the completion of the purchase, the director now owns 90,000 shares in the company, valued at approximately $8,447,400. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Euronet Worldwide news, CEO Juan Bianchi sold 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $102.58, for a total transaction of $410,320.00. Following the sale, the chief executive officer now owns 12,440 shares of the company’s stock, valued at $1,276,095.20. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Thomas A. Mcdonnell bought 3,206 shares of the stock in a transaction dated Monday, August 5th. The stock was bought at an average price of $93.86 per share, with a total value of $300,915.16. Following the acquisition, the director now owns 90,000 shares in the company, valued at approximately $8,447,400. The disclosure for this purchase can be found here. Company insiders own 10.50% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on EEFT shares. Citigroup lifted their target price on shares of Euronet Worldwide from $120.00 to $135.00 and gave the company a “buy” rating in a report on Tuesday, May 28th. StockNews.com cut Euronet Worldwide from a “buy” rating to a “hold” rating in a research note on Friday, August 9th. Needham & Company LLC reiterated a “buy” rating and issued a $125.00 price objective on shares of Euronet Worldwide in a report on Wednesday, September 4th. Finally, Monness Crespi & Hardt raised their target price on Euronet Worldwide from $140.00 to $145.00 and gave the company a “neutral” rating in a report on Monday, July 22nd. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $124.11.

Euronet Worldwide Trading Up 0.0 %

EEFT opened at $99.83 on Thursday. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.19 and a quick ratio of 1.19. The stock has a market capitalization of $4.58 billion, a price-to-earnings ratio of 17.58 and a beta of 1.46. The business has a fifty day moving average price of $101.40 and a 200 day moving average price of $106.19. Euronet Worldwide, Inc. has a 12 month low of $73.84 and a 12 month high of $117.66.

Euronet Worldwide (NASDAQ:EEFT) last released its earnings results on Thursday, July 18th. The business services provider reported $2.25 earnings per share for the quarter, topping analysts’ consensus estimates of $2.04 by $0.21. Euronet Worldwide had a net margin of 7.46% and a return on equity of 27.81%. The firm had revenue of $986.20 million for the quarter, compared to analyst estimates of $1.09 billion. During the same period in the prior year, the firm earned $1.84 earnings per share. The business’s quarterly revenue was up 5.0% compared to the same quarter last year. Sell-side analysts expect that Euronet Worldwide, Inc. will post 7.88 earnings per share for the current fiscal year.

Euronet Worldwide Company Profile

Euronet Worldwide, Inc provides payment and transaction processing and distribution solutions to financial institutions, retailers, service providers, and individual consumers worldwide. It operates through three segments: Electronic Fund Transfer Processing, epay, and Money Transfer. The Electronic Fund Transfer Processing segment provides electronic payment solutions, including automated teller machine (ATM) cash withdrawal and deposit services, ATM network participation, outsourced ATM and point-of-sale (POS) management solutions, credit and debit and prepaid card outsourcing, card issuing, and merchant acquiring services.