Euronet Worldwide, Inc. (NASDAQ:EEFT) Stake Cut by Verition Fund Management LLC

Verition Fund Management LLC decreased its holdings in shares of Euronet Worldwide, Inc. (NASDAQ:EEFT) by 17.8% in the 3rd quarter, Holdings Channel reports. The firm owned 3,313 shares of the business services provider’s stock after selling 716 shares during the quarter. Verition Fund Management LLC’s holdings in Euronet Worldwide were worth $329,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently modified their holdings of the company. Oppenheimer & Co. Inc. grew its position in shares of Euronet Worldwide by 0.7% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 18,074 shares of the business services provider’s stock valued at $1,793,000 after buying an additional 133 shares during the last quarter. Arizona State Retirement System grew its holdings in shares of Euronet Worldwide by 1.1% during the second quarter. Arizona State Retirement System now owns 12,176 shares of the business services provider’s stock valued at $1,260,000 after purchasing an additional 135 shares during the last quarter. Vanguard Personalized Indexing Management LLC grew its holdings 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 purchasing an additional 143 shares during the last quarter. State of Alaska Department of Revenue raised its position in shares of Euronet Worldwide by 3.6% during the 3rd quarter. State of Alaska Department of Revenue now owns 4,903 shares of the business services provider’s stock worth $486,000 after purchasing an additional 170 shares during the period. Finally, Fifth Third Bancorp lifted its holdings 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 worth $164,000 after purchasing an additional 203 shares during the last quarter. 91.60% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

EEFT has been the topic of several analyst reports. Monness Crespi & Hardt raised Euronet Worldwide from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 24th. Citigroup cut shares of Euronet Worldwide from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $118.00 to $110.00 in a report on Friday, October 18th. StockNews.com lowered shares of Euronet Worldwide from a “buy” rating to a “hold” rating in a research note on Friday. Oppenheimer raised their price target on shares of Euronet Worldwide from $121.00 to $135.00 and gave the company an “outperform” rating in a research note on Monday, November 25th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $120.00 price target on shares of Euronet Worldwide in a report on Thursday. Four investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $127.13.

Insider Activity at Euronet Worldwide

In other Euronet Worldwide news, CEO Nikos Fountas sold 21,479 shares of the company’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $103.56, for a total value of $2,224,365.24. Following the completion of the sale, the chief executive officer now directly owns 52,370 shares of the company’s stock, valued at approximately $5,423,437.20. This represents a 29.09 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Kevin J. Caponecchi sold 52,034 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $106.61, for a total transaction of $5,547,344.74. Following the transaction, the chief executive officer now owns 90,288 shares of the company’s stock, valued at approximately $9,625,603.68. This trade represents a 36.56 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 82,910 shares of company stock valued at $8,780,102 over the last 90 days. 10.50% of the stock is currently owned by corporate insiders.

Euronet Worldwide Trading Up 0.1 %

Shares of NASDAQ:EEFT opened at $103.46 on Friday. Euronet Worldwide, Inc. has a twelve month low of $91.07 and a twelve month high of $117.66. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.88. The firm has a market cap of $4.55 billion, a P/E ratio of 14.95, a P/E/G ratio of 0.95 and a beta of 1.44. The company has a 50 day moving average of $101.63 and a 200-day moving average of $102.80.

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, beating analysts’ consensus estimates of $2.92 by $0.11. Euronet Worldwide had a return on equity of 26.86% and a net margin of 8.49%. The firm had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.04 billion. During the same period last year, the company posted $2.53 EPS. As a group, analysts anticipate that Euronet Worldwide, Inc. will post 7.87 earnings per share for the current fiscal year.

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.