Euronet Worldwide, Inc. (NASDAQ:EEFT) Shares Bought by M&T Bank Corp

M&T Bank Corp lifted its position in shares of Euronet Worldwide, Inc. (NASDAQ:EEFT) by 7.0% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,245 shares of the business services provider’s stock after buying an additional 279 shares during the period. M&T Bank Corp’s holdings in Euronet Worldwide were worth $421,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Allspring Global Investments Holdings LLC increased its stake in Euronet Worldwide by 0.8% during the third quarter. Allspring Global Investments Holdings LLC now owns 3,356,229 shares of the business services provider’s stock worth $333,039,000 after acquiring an additional 27,254 shares during the last quarter. Hotchkis & Wiley Capital Management LLC increased its position in Euronet Worldwide by 13.6% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 1,064,233 shares of the business services provider’s stock worth $105,604,000 after purchasing an additional 127,240 shares in the last quarter. Van Berkom & Associates Inc. increased its position in Euronet Worldwide by 1.4% during the 2nd quarter. Van Berkom & Associates Inc. now owns 1,022,153 shares of the business services provider’s stock worth $105,793,000 after purchasing an additional 14,090 shares in the last quarter. Burgundy Asset Management Ltd. raised its holdings in Euronet Worldwide by 1.4% in the second quarter. Burgundy Asset Management Ltd. now owns 767,293 shares of the business services provider’s stock valued at $79,415,000 after buying an additional 10,689 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in Euronet Worldwide by 17.7% during the second quarter. Dimensional Fund Advisors LP now owns 755,190 shares of the business services provider’s stock valued at $78,172,000 after buying an additional 113,685 shares in the last quarter. 91.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Monness Crespi & Hardt raised shares of Euronet Worldwide from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 24th. DA Davidson reissued a “buy” rating and issued a $136.00 price objective on shares of Euronet Worldwide in a research report on Tuesday, October 8th. Needham & Company LLC restated a “buy” rating and set a $120.00 price objective on shares of Euronet Worldwide in a research note on Thursday, December 12th. StockNews.com lowered Euronet Worldwide from a “buy” rating to a “hold” rating in a research note on Friday, December 13th. Finally, Oppenheimer boosted their price target on Euronet Worldwide from $121.00 to $135.00 and gave the stock an “outperform” rating in a research report on Monday, November 25th. Four equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $127.13.

Insider Activity

In related news, SVP Martin L. Bruckner sold 9,397 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $107.31, for a total transaction of $1,008,392.07. Following the sale, the senior vice president now directly owns 39,983 shares of the company’s stock, valued at approximately $4,290,575.73. This represents a 19.03 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Nikos Fountas sold 21,479 shares of the firm’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $103.56, for a total value of $2,224,365.24. Following the transaction, the chief executive officer now owns 52,370 shares in the company, valued at $5,423,437.20. This trade represents a 29.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 82,910 shares of company stock worth $8,780,102. 10.50% of the stock is currently owned by corporate insiders.

Euronet Worldwide Price Performance

Shares of NASDAQ EEFT opened at $101.98 on Thursday. The business has a 50 day moving average price of $102.04 and a two-hundred day moving average price of $102.54. Euronet Worldwide, Inc. has a fifty-two week low of $91.07 and a fifty-two week high of $117.66. The firm has a market cap of $4.48 billion, a PE ratio of 14.74, a price-to-earnings-growth ratio of 0.95 and a beta of 1.44. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.88.

Euronet Worldwide (NASDAQ:EEFT) last issued its quarterly earnings results on Wednesday, October 23rd. The business services provider reported $3.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.92 by $0.11. Euronet Worldwide had a net margin of 8.49% and a return on equity of 26.86%. The business had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.04 billion. During the same quarter in the previous year, the firm earned $2.53 earnings per share. Sell-side analysts expect that Euronet Worldwide, Inc. will post 7.87 earnings per share for the current fiscal year.

Euronet Worldwide 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.