Meritage Portfolio Management Has $13.03 Million Stock Position in Euronet Worldwide, Inc. (NASDAQ:EEFT)

Meritage Portfolio Management lowered its stake in Euronet Worldwide, Inc. (NASDAQ:EEFT) by 2.8% during the fourth quarter, HoldingsChannel.com reports. The firm owned 126,679 shares of the business services provider’s stock after selling 3,701 shares during the period. Euronet Worldwide makes up about 0.8% of Meritage Portfolio Management’s holdings, making the stock its 27th biggest holding. Meritage Portfolio Management’s holdings in Euronet Worldwide were worth $13,028,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Oppenheimer & Co. Inc. grew its position in shares of Euronet Worldwide by 0.7% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 18,074 shares of the business services provider’s stock valued at $1,793,000 after purchasing an additional 133 shares during the period. HighTower Advisors LLC increased its position in shares of Euronet Worldwide by 0.6% during the third quarter. HighTower Advisors LLC now owns 25,674 shares of the business services provider’s stock worth $2,540,000 after acquiring an additional 158 shares in the last quarter. State of Alaska Department of Revenue raised its holdings in shares of Euronet Worldwide by 3.6% during the third quarter. State of Alaska Department of Revenue now owns 4,903 shares of the business services provider’s stock worth $486,000 after acquiring an additional 170 shares during the period. Quarry LP lifted its position in Euronet Worldwide by 21.6% in the 3rd quarter. Quarry LP now owns 1,087 shares of the business services provider’s stock valued at $108,000 after acquiring an additional 193 shares in the last quarter. Finally, Blue Trust Inc. boosted its stake in Euronet Worldwide by 26.1% in the 4th quarter. Blue Trust Inc. now owns 989 shares of the business services provider’s stock worth $98,000 after purchasing an additional 205 shares during the period. Institutional investors own 91.60% of the company’s stock.

Insider Buying and Selling

In other news, SVP Martin L. Bruckner sold 9,397 shares of the 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 transaction, the senior vice president now owns 39,983 shares in the company, valued at approximately $4,290,575.73. This trade represents a 19.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Kevin J. Caponecchi sold 52,034 shares of Euronet Worldwide stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $106.61, for a total value of $5,547,344.74. Following the sale, the chief executive officer now directly owns 90,288 shares of the company’s stock, valued at approximately $9,625,603.68. The trade was a 36.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 82,910 shares of company stock valued at $8,780,102. 10.50% of the stock is owned by insiders.

Euronet Worldwide Price Performance

NASDAQ:EEFT opened at $98.94 on Wednesday. Euronet Worldwide, Inc. has a 12-month low of $91.07 and a 12-month high of $117.66. The firm has a market capitalization of $4.35 billion, a price-to-earnings ratio of 14.30, a P/E/G ratio of 0.78 and a beta of 1.43. The stock’s 50 day moving average price is $101.79 and its two-hundred day moving average price is $100.98. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.88.

Analyst Ratings Changes

Several research firms have issued reports on EEFT. Needham & Company LLC reissued a “buy” rating and issued a $120.00 price target on shares of Euronet Worldwide in a research note on Thursday, December 12th. Citigroup lowered Euronet Worldwide from a “buy” rating to a “neutral” rating and dropped their target price for the company from $118.00 to $110.00 in a research report on Friday, October 18th. Oppenheimer reduced their price target on Euronet Worldwide from $135.00 to $128.00 and set an “outperform” rating for the company in a research report on Thursday, December 19th. DA Davidson reiterated a “buy” rating and issued a $136.00 price objective on shares of Euronet Worldwide in a report on Tuesday, October 8th. Finally, Monness Crespi & Hardt upgraded shares of Euronet Worldwide from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 24th. Three analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $127.14.

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.