Engineers Gate Manager LP Invests $2.28 Million in Euronet Worldwide, Inc. $EEFT

Engineers Gate Manager LP purchased a new position in Euronet Worldwide, Inc. (NASDAQ:EEFT) in the 2nd quarter, HoldingsChannel.com reports. The firm purchased 31,113 shares of the business services provider’s stock, valued at approximately $2,277,000.

A number of other large investors also recently bought and sold shares of EEFT. BlackRock Inc. purchased a new position in Euronet Worldwide during the second quarter valued at $244,726,000. California State Teachers Retirement System grew its stake in shares of Euronet Worldwide by 6,067.4% in the second quarter. California State Teachers Retirement System now owns 2,967,928 shares of the business services provider’s stock worth $217,223,000 after acquiring an additional 2,919,805 shares during the last quarter. Jupiter Topco LLC purchased a new stake in shares of Euronet Worldwide in the second quarter worth $98,213,000. Turtle Creek Asset Management Inc. increased its holdings in shares of Euronet Worldwide by 44.9% during the first quarter. Turtle Creek Asset Management Inc. now owns 1,847,040 shares of the business services provider’s stock valued at $122,588,000 after acquiring an additional 572,194 shares in the last quarter. Finally, Brown Advisory Inc. bought a new position in shares of Euronet Worldwide during the fourth quarter valued at $37,523,000. 91.60% of the stock is owned by hedge funds and other institutional investors.

Euronet Worldwide Stock Performance

Shares of EEFT opened at $71.26 on Tuesday. The company has a market cap of $2.71 billion, a price-to-earnings ratio of 11.19, a P/E/G ratio of 0.58 and a beta of 0.83. The business’s fifty day simple moving average is $74.18 and its two-hundred day simple moving average is $71.43. Euronet Worldwide, Inc. has a 12 month low of $62.50 and a 12 month high of $91.58. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 1.47.

Euronet Worldwide (NASDAQ:EEFT) last posted its quarterly earnings results on Thursday, July 30th. The business services provider reported $2.82 earnings per share for the quarter, missing the consensus estimate of $2.93 by ($0.11). Euronet Worldwide had a return on equity of 28.60% and a net margin of 6.63%.Euronet Worldwide’s revenue was up 3.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.56 earnings per share. Research analysts anticipate that Euronet Worldwide, Inc. will post 9.55 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on EEFT. Weiss Ratings cut shares of Euronet Worldwide from a “hold (c)” rating to a “hold (c-)” rating in a research note on Tuesday, August 11th. DA Davidson restated a “buy” rating and set a $102.00 price objective on shares of Euronet Worldwide in a research note on Friday, July 10th. Wolfe Research decreased their target price on shares of Euronet Worldwide from $75.00 to $70.00 and set an “underperform” rating for the company in a report on Tuesday, August 25th. Finally, Needham & Company LLC upped their target price on shares of Euronet Worldwide from $85.00 to $90.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. Three analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $94.00.

Euronet Worldwide Profile

Euronet Worldwide, Inc provides electronic payment and transaction-processing services through a global network of automated teller machines, point-of-sale terminals, money-transfer locations and digital platforms. The company serves financial institutions, retailers, mobile operators, money-transfer agents and consumers.

Euronet operates through three primary business areas: EFT Processing, which includes ATM services, electronic payment processing and related financial technology; epay, which distributes prepaid mobile airtime, gift cards and other electronic payment products; and Money Transfer, which provides international and domestic remittance services through the Ria Money Transfer and xe brands, among others.

Headquartered in Leawood, Kansas, Euronet was founded in 1994 and initially focused on developing ATM networks in Central Europe before expanding into broader payment-processing and money-transfer services.