Meeder Asset Management Inc. Increases Position in Euronet Worldwide, Inc. (NASDAQ:EEFT)

Meeder Asset Management Inc. grew its holdings in Euronet Worldwide, Inc. (NASDAQ:EEFT) by 2,095.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,149 shares of the business services provider’s stock after purchasing an additional 3,960 shares during the quarter. Meeder Asset Management Inc.’s holdings in Euronet Worldwide were worth $429,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Quadrant Capital Group LLC boosted its stake in Euronet Worldwide by 242.7% during the fourth quarter. Quadrant Capital Group LLC now owns 353 shares of the business services provider’s stock worth $36,000 after buying an additional 250 shares during the last quarter. Headlands Technologies LLC acquired a new stake in Euronet Worldwide during the first quarter worth about $50,000. Covestor Ltd raised its stake in Euronet Worldwide by 174.9% during the first quarter. Covestor Ltd now owns 547 shares of the business services provider’s stock worth $60,000 after purchasing an additional 348 shares during the period. Summit Securities Group LLC acquired a new position in Euronet Worldwide in the 2nd quarter valued at about $57,000. Finally, GAMMA Investing LLC grew its stake in shares of Euronet Worldwide by 69.5% in the 2nd quarter. GAMMA Investing LLC now owns 588 shares of the business services provider’s stock valued at $61,000 after buying an additional 241 shares during the period. 91.60% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently commented on EEFT shares. Monness Crespi & Hardt lifted their price target on shares of Euronet Worldwide from $140.00 to $145.00 and gave the company a “neutral” rating in a research report on Monday, July 22nd. Citigroup upped their price target on Euronet Worldwide from $120.00 to $135.00 and gave the company a “buy” rating in a research note on Tuesday, May 28th. StockNews.com lowered shares of Euronet Worldwide from a “buy” rating to a “hold” rating in a report on Friday, August 9th. Wolfe Research raised shares of Euronet Worldwide from an “underperform” rating to a “peer perform” rating in a research note on Friday, May 17th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $125.00 price target on shares of Euronet Worldwide in a research note on Wednesday, September 4th. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $124.11.

Euronet Worldwide Stock Performance

Shares of EEFT stock opened at $98.98 on Friday. Euronet Worldwide, Inc. has a 52 week low of $73.84 and a 52 week high of $117.66. The firm has a 50 day moving average of $101.56 and a two-hundred day moving average of $106.46. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 0.85. The stock has a market capitalization of $4.45 billion, a PE ratio of 17.43 and a beta of 1.46.

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

Insider Buying and Selling

In other news, Director Thomas A. Mcdonnell acquired 3,206 shares of the firm’s stock in a transaction dated Monday, August 5th. The stock was acquired at an average cost of $93.86 per share, with a total value of $300,915.16. Following the transaction, the director now owns 90,000 shares in the company, valued at $8,447,400. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, CEO Juan Bianchi sold 4,000 shares of Euronet Worldwide stock in a transaction 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 directly owns 12,440 shares in the company, valued at approximately $1,276,095.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Thomas A. Mcdonnell acquired 3,206 shares of the firm’s stock in a transaction on 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 purchase, the director now directly owns 90,000 shares of the company’s stock, valued at $8,447,400. The disclosure for this purchase can be found here. 10.50% of the stock is owned by insiders.

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.