Columbia Partners L L C Investment Management Buys 9,204 Shares of Euronet Worldwide, Inc. (EEFT)

Columbia Partners L L C Investment Management raised its stake in shares of Euronet Worldwide, Inc. (NASDAQ:EEFT) by 68.6% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 22,625 shares of the business services provider’s stock after buying an additional 9,204 shares during the period. Columbia Partners L L C Investment Management’s holdings in Euronet Worldwide were worth $2,144,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in EEFT. Bristlecone Advisors LLC purchased a new position in shares of Euronet Worldwide during the 3rd quarter valued at about $113,000. Fiduciary Trust Co. purchased a new position in shares of Euronet Worldwide during the 2nd quarter valued at about $122,000. The Manufacturers Life Insurance Company raised its stake in shares of Euronet Worldwide by 7.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,696 shares of the business services provider’s stock valued at $149,000 after buying an additional 116 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Euronet Worldwide by 10.3% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,796 shares of the business services provider’s stock valued at $157,000 after buying an additional 167 shares during the last quarter. Finally, Pitcairn Co. purchased a new position in shares of Euronet Worldwide during the 3rd quarter valued at about $200,000. Institutional investors and hedge funds own 93.34% of the company’s stock.

In related news, CEO Michael J. Brown sold 2,400 shares of Euronet Worldwide stock in a transaction dated Friday, October 20th. The stock was sold at an average price of $100.00, for a total value of $240,000.00. Following the sale, the chief executive officer now directly owns 1,603,486 shares in the company, valued at approximately $160,348,600. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Rick Weller sold 61,740 shares of Euronet Worldwide stock in a transaction dated Wednesday, August 30th. The stock was sold at an average price of $97.51, for a total value of $6,020,267.40. Following the completion of the sale, the chief financial officer now owns 81,221 shares in the company, valued at $7,919,859.71. The disclosure for this sale can be found here. In the last 90 days, insiders sold 263,755 shares of company stock valued at $25,892,468. 7.70% of the stock is owned by company insiders.

EEFT has been the subject of a number of recent research reports. Lake Street Capital reiterated a “buy” rating and set a $99.00 price objective (up previously from $96.00) on shares of Euronet Worldwide in a research note on Thursday, July 27th. Zacks Investment Research lowered Euronet Worldwide from a “buy” rating to a “hold” rating in a research note on Friday, July 28th. BidaskClub upgraded Euronet Worldwide from a “hold” rating to a “buy” rating in a research note on Monday, July 31st. SunTrust Banks, Inc. reiterated a “buy” rating and set a $120.00 price objective on shares of Euronet Worldwide in a research note on Friday, October 6th. Finally, Northland Securities restated a “buy” rating and issued a $110.00 price target on shares of Euronet Worldwide in a research note on Thursday, October 19th. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $108.67.

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Shares of Euronet Worldwide, Inc. (NASDAQ:EEFT) traded down $0.07 during trading on Friday, hitting $88.90. The company had a trading volume of 303,271 shares, compared to its average volume of 305,659. The company has a current ratio of 1.48, a quick ratio of 1.44 and a debt-to-equity ratio of 0.50. Euronet Worldwide, Inc. has a 1 year low of $70.51 and a 1 year high of $101.07. The stock has a market cap of $4,560.00, a price-to-earnings ratio of 21.34, a PEG ratio of 1.37 and a beta of 1.39.

Euronet Worldwide (NASDAQ:EEFT) last announced its quarterly earnings results on Thursday, October 19th. The business services provider reported $1.61 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.61. Euronet Worldwide had a return on equity of 22.46% and a net margin of 9.63%. The firm had revenue of $637.90 million during the quarter, compared to analyst estimates of $595.09 million. During the same quarter in the previous year, the business earned $1.35 EPS. Euronet Worldwide’s revenue for the quarter was up 21.7% compared to the same quarter last year. sell-side analysts anticipate that Euronet Worldwide, Inc. will post 4.33 earnings per share for the current fiscal year.

About Euronet Worldwide

Euronet Worldwide, Inc is an electronic payments provider. The Company offers payment and transaction processing and distribution solutions to financial institutions, retailers, service providers and individual consumers. Its product offerings include automated teller machine (ATM), point-of-sale (POS), card outsourcing, card issuing and merchant acquiring services, electronic distribution of prepaid mobile airtime and other electronic payment products.

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Institutional Ownership by Quarter for Euronet Worldwide (NASDAQ:EEFT)

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