Paralel Advisors LLC Raises Stake in Euronet Worldwide, Inc. (NASDAQ:EEFT)

Paralel Advisors LLC raised its stake in shares of Euronet Worldwide, Inc. (NASDAQ:EEFT) by 21.3% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 20,765 shares of the business services provider’s stock after buying an additional 3,652 shares during the quarter. Paralel Advisors LLC’s holdings in Euronet Worldwide were worth $2,149,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of EEFT. Acadian Asset Management LLC bought a new position in Euronet Worldwide in the 2nd quarter worth about $977,000. New South Capital Management Inc. grew its holdings in shares of Euronet Worldwide by 16.2% during the second quarter. New South Capital Management Inc. now owns 625,677 shares of the business services provider’s stock worth $64,758,000 after purchasing an additional 87,258 shares in the last quarter. Hahn Capital Management LLC increased its position in shares of Euronet Worldwide by 33.8% in the second quarter. Hahn Capital Management LLC now owns 107,411 shares of the business services provider’s stock worth $11,117,000 after purchasing an additional 27,113 shares during the last quarter. Savant Capital LLC raised its stake in Euronet Worldwide by 199.3% in the second quarter. Savant Capital LLC now owns 8,928 shares of the business services provider’s stock valued at $924,000 after purchasing an additional 5,945 shares in the last quarter. Finally, Arizona State Retirement System lifted its position in Euronet Worldwide by 1.1% during the second quarter. Arizona State Retirement System now owns 12,176 shares of the business services provider’s stock valued at $1,260,000 after purchasing an additional 135 shares during the last quarter. Institutional investors own 91.60% of the company’s stock.

Insiders Place Their Bets

In other Euronet Worldwide news, Director Thomas A. Mcdonnell bought 3,206 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were purchased at an average price of $93.86 per share, for a total transaction of $300,915.16. Following the acquisition, the director now owns 90,000 shares in the company, valued at approximately $8,447,400. The purchase was disclosed in a filing with the SEC, which is available at this link. Company insiders own 10.50% of the company’s stock.

Wall Street Analysts Forecast Growth

EEFT has been the topic of a number of research analyst reports. Wolfe Research raised shares of Euronet Worldwide from an “underperform” rating to a “peer perform” rating in a report on Friday, May 17th. StockNews.com cut Euronet Worldwide from a “buy” rating to a “hold” rating in a research note on Friday, August 9th. Citigroup raised their price target on Euronet Worldwide from $120.00 to $135.00 and gave the company a “buy” rating in a research report on Tuesday, May 28th. Monness Crespi & Hardt upped their price objective on Euronet Worldwide from $140.00 to $145.00 and gave the stock a “neutral” rating in a report on Monday, July 22nd. Finally, Needham & Company LLC reissued a “buy” rating and set a $125.00 price objective on shares of Euronet Worldwide in a report on Wednesday. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $124.11.

Euronet Worldwide Trading Down 2.6 %

NASDAQ:EEFT traded down $2.64 during trading hours on Friday, hitting $99.78. The company had a trading volume of 324,557 shares, compared to its average volume of 306,074. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.19 and a quick ratio of 1.19. The stock has a 50-day moving average price of $102.00 and a 200 day moving average price of $106.73. The company has a market capitalization of $4.58 billion, a PE ratio of 17.57 and a beta of 1.46. Euronet Worldwide, Inc. has a 52 week low of $73.84 and a 52 week high of $117.66.

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

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.