Granahan Investment Management LLC Has $4.36 Million Position in Euronet Worldwide, Inc. (NASDAQ:EEFT)

Granahan Investment Management LLC grew its position in Euronet Worldwide, Inc. (NASDAQ:EEFT) by 29.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 42,412 shares of the business services provider’s stock after purchasing an additional 9,600 shares during the period. Granahan Investment Management LLC owned about 0.10% of Euronet Worldwide worth $4,362,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Tidal Investments LLC lifted its holdings in Euronet Worldwide by 10.8% during the third quarter. Tidal Investments LLC now owns 7,195 shares of the business services provider’s stock worth $714,000 after acquiring an additional 704 shares in the last quarter. Franklin Resources Inc. lifted its holdings in shares of Euronet Worldwide by 22.2% during the 3rd quarter. Franklin Resources Inc. now owns 33,921 shares of the business services provider’s stock valued at $3,359,000 after purchasing an additional 6,154 shares in the last quarter. GAMMA Investing LLC grew its position in shares of Euronet Worldwide by 121.3% in the 4th quarter. GAMMA Investing LLC now owns 954 shares of the business services provider’s stock valued at $98,000 after purchasing an additional 523 shares during the period. Harbor Capital Advisors Inc. increased its stake in Euronet Worldwide by 2.9% during the 4th quarter. Harbor Capital Advisors Inc. now owns 57,725 shares of the business services provider’s stock worth $5,936,000 after purchasing an additional 1,629 shares in the last quarter. Finally, Reinhart Partners LLC. raised its holdings in Euronet Worldwide by 3.4% during the 4th quarter. Reinhart Partners LLC. now owns 627,149 shares of the business services provider’s stock worth $64,496,000 after buying an additional 20,824 shares during the period. 91.60% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on EEFT shares. Needham & Company LLC reduced their price target on shares of Euronet Worldwide from $130.00 to $120.00 and set a “buy” rating for the company in a report on Friday, April 25th. StockNews.com downgraded Euronet Worldwide from a “buy” rating to a “hold” rating in a research note on Saturday, February 22nd. Keefe, Bruyette & Woods cut their price target on Euronet Worldwide from $112.00 to $110.00 and set a “market perform” rating on the stock in a report on Friday, April 25th. Stephens reiterated an “overweight” rating and set a $130.00 price objective on shares of Euronet Worldwide in a report on Friday, February 14th. Finally, William Blair reissued an “outperform” rating on shares of Euronet Worldwide in a research report on Thursday, April 24th. Four investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $125.57.

Euronet Worldwide Price Performance

Shares of EEFT opened at $108.30 on Friday. The company’s fifty day simple moving average is $100.62 and its 200 day simple moving average is $101.36. Euronet Worldwide, Inc. has a 1-year low of $85.24 and a 1-year high of $117.66. The company has a market cap of $4.68 billion, a price-to-earnings ratio of 16.74, a PEG ratio of 0.78 and a beta of 1.25. The company has a current ratio of 1.25, a quick ratio of 1.26 and a debt-to-equity ratio of 0.92.

Euronet Worldwide (NASDAQ:EEFT) last issued its earnings results on Wednesday, April 23rd. The business services provider reported $1.13 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.13. Euronet Worldwide had a net margin of 7.69% and a return on equity of 27.74%. The company had revenue of $915.50 million for the quarter, compared to analysts’ expectations of $908.93 million. During the same period in the prior year, the firm earned $1.28 EPS. Euronet Worldwide’s quarterly revenue was up 6.8% compared to the same quarter last year. On average, research analysts forecast that Euronet Worldwide, Inc. will post 9.11 earnings per share for the current fiscal year.

Insider Transactions at Euronet Worldwide

In other Euronet Worldwide news, CEO Michael J. Brown sold 95,000 shares of the firm’s stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $100.69, for a total transaction of $9,565,550.00. Following the completion of the sale, the chief executive officer now owns 1,418,966 shares of the company’s stock, valued at $142,875,686.54. This trade represents a 6.27 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 11.20% of the stock is currently owned by corporate insiders.

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.