Sheets Smith Wealth Management Buys 606 Shares of Euronet Worldwide, Inc. (NASDAQ:EEFT)

Sheets Smith Wealth Management grew its stake in shares of Euronet Worldwide, Inc. (NASDAQ:EEFT) by 6.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 9,678 shares of the business services provider’s stock after purchasing an additional 606 shares during the period. Sheets Smith Wealth Management’s holdings in Euronet Worldwide were worth $995,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its stake in Euronet Worldwide by 17.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 755,190 shares of the business services provider’s stock valued at $78,172,000 after purchasing an additional 113,685 shares in the last quarter. Mercer Global Advisors Inc. ADV purchased a new position in Euronet Worldwide in the second quarter worth $867,000. Vanguard Personalized Indexing Management LLC grew its position in Euronet Worldwide by 6.5% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 2,350 shares of the business services provider’s stock valued at $243,000 after buying an additional 143 shares during the period. Hsbc Holdings PLC raised its position in Euronet Worldwide by 117.1% in the second quarter. Hsbc Holdings PLC now owns 51,292 shares of the business services provider’s stock worth $5,402,000 after acquiring an additional 27,664 shares during the period. Finally, Marshall Wace LLP bought a new position in Euronet Worldwide during the second quarter valued at $9,047,000. 91.60% of the stock is owned by institutional investors.

Euronet Worldwide Trading Down 0.2 %

NASDAQ EEFT opened at $99.32 on Wednesday. The stock’s 50-day simple moving average is $102.88 and its two-hundred day simple moving average is $101.36. Euronet Worldwide, Inc. has a twelve month low of $91.07 and a twelve month high of $117.66. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.88. The company has a market capitalization of $4.36 billion, a price-to-earnings ratio of 14.35, a PEG ratio of 0.79 and a beta of 1.44.

Euronet Worldwide (NASDAQ:EEFT) last issued its earnings results on Wednesday, October 23rd. The business services provider reported $3.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.92 by $0.11. The business had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.04 billion. Euronet Worldwide had a return on equity of 26.86% and a net margin of 8.49%. During the same quarter in the prior year, the firm earned $2.53 earnings per share. Research analysts forecast that Euronet Worldwide, Inc. will post 7.85 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, 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 in the company, valued at approximately $9,625,603.68. This trade represents a 36.56 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Nikos Fountas sold 21,479 shares of the firm’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $103.56, for a total value of $2,224,365.24. Following the completion of the sale, the chief executive officer now directly owns 52,370 shares of the company’s stock, valued at $5,423,437.20. The trade was a 29.09 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 82,910 shares of company stock valued at $8,780,102 over the last three months. Insiders own 10.50% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. DA Davidson restated a “buy” rating and issued a $136.00 price objective on shares of Euronet Worldwide in a research note on Tuesday, October 8th. Citigroup downgraded shares of Euronet Worldwide from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $118.00 to $110.00 in a report on Friday, October 18th. Oppenheimer lowered their target price on shares of Euronet Worldwide from $135.00 to $128.00 and set an “outperform” rating on the stock in a report on Thursday, December 19th. StockNews.com upgraded Euronet Worldwide from a “hold” rating to a “buy” rating in a research note on Monday. Finally, Needham & Company LLC restated a “buy” rating and issued a $120.00 target price on shares of Euronet Worldwide in a research note on Thursday, December 12th. Three investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $126.25.

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.