New York State Teachers Retirement System Acquires 2,599 Shares of Euronet Worldwide, Inc. (NASDAQ:EEFT)

New York State Teachers Retirement System lifted its holdings in shares of Euronet Worldwide, Inc. (NASDAQ:EEFT) by 12.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,081 shares of the business services provider’s stock after purchasing an additional 2,599 shares during the period. New York State Teachers Retirement System owned about 0.05% of Euronet Worldwide worth $2,290,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Trajan Wealth LLC bought a new stake in Euronet Worldwide in the third quarter worth about $203,000. IVC Wealth Advisors LLC purchased a new stake in shares of Euronet Worldwide during the 3rd quarter worth approximately $217,000. Custom Index Systems LLC bought a new stake in shares of Euronet Worldwide in the 3rd quarter worth approximately $387,000. State of Alaska Department of Revenue lifted its stake in Euronet Worldwide by 3.6% in the third quarter. State of Alaska Department of Revenue now owns 4,903 shares of the business services provider’s stock valued at $486,000 after purchasing an additional 170 shares during the last quarter. Finally, Lecap Asset Management Ltd. grew its holdings in Euronet Worldwide by 113.4% during the third quarter. Lecap Asset Management Ltd. now owns 5,018 shares of the business services provider’s stock valued at $498,000 after purchasing an additional 2,666 shares during the period. 91.60% of the stock is owned by hedge funds and other institutional investors.

Euronet Worldwide Price Performance

Shares of NASDAQ:EEFT opened at $103.50 on Friday. The company has a 50 day moving average of $99.62 and a 200 day moving average of $104.02. The company has a current ratio of 1.26, a quick ratio of 1.19 and a debt-to-equity ratio of 0.88. The stock has a market cap of $4.65 billion, a P/E ratio of 14.96 and a beta of 1.46. Euronet Worldwide, Inc. has a 12 month low of $79.50 and a 12 month high of $117.66.

Euronet Worldwide (NASDAQ:EEFT) last released its quarterly earnings results on Wednesday, October 23rd. The business services provider reported $3.03 EPS for the quarter, beating 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 firm had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.04 billion. During the same period in the previous year, the business earned $2.53 EPS. As a group, sell-side analysts forecast that Euronet Worldwide, Inc. will post 7.88 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have issued reports on EEFT. StockNews.com lowered Euronet Worldwide from a “buy” rating to a “hold” rating in a research note on Friday, August 9th. Oppenheimer assumed coverage on Euronet Worldwide in a research note on Tuesday, October 1st. They issued an “outperform” rating and a $121.00 price objective on the stock. Citigroup lowered shares of Euronet Worldwide from a “buy” rating to a “neutral” rating and cut their target price for the stock from $118.00 to $110.00 in a research report on Friday, October 18th. Monness Crespi & Hardt raised shares of Euronet Worldwide from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 24th. Finally, Needham & Company LLC dropped their price target on shares of Euronet Worldwide from $125.00 to $120.00 and set a “buy” rating on the stock in a research note on Thursday, October 24th. Four research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $125.38.

Insiders Place Their Bets

In other news, CEO Juan Bianchi sold 4,000 shares of Euronet Worldwide stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $102.58, for a total transaction of $410,320.00. Following the completion of the sale, the chief executive officer now owns 12,440 shares in the company, valued at approximately $1,276,095.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 10.50% of the company’s stock.

About Euronet Worldwide

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.