Quantbot Technologies LP Takes $4.37 Million Position in Euronet Worldwide, Inc. (NASDAQ:EEFT)

Quantbot Technologies LP acquired a new stake in shares of Euronet Worldwide, Inc. (NASDAQ:EEFT) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 44,065 shares of the business services provider’s stock, valued at approximately $4,373,000. Quantbot Technologies LP owned about 0.10% of Euronet Worldwide at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Ellsworth Advisors LLC purchased a new position in Euronet Worldwide during the second quarter worth about $514,000. SG Capital Management LLC boosted its holdings in Euronet Worldwide by 106.8% during the first quarter. SG Capital Management LLC now owns 41,934 shares of the business services provider’s stock worth $4,610,000 after purchasing an additional 21,654 shares during the last quarter. Burgundy Asset Management Ltd. boosted its holdings in Euronet Worldwide by 1.4% during the second quarter. Burgundy Asset Management Ltd. now owns 767,293 shares of the business services provider’s stock worth $79,415,000 after purchasing an additional 10,689 shares during the last quarter. Savant Capital LLC boosted its holdings in Euronet Worldwide by 199.3% during the second quarter. Savant Capital LLC now owns 8,928 shares of the business services provider’s stock worth $924,000 after purchasing an additional 5,945 shares during the last quarter. Finally, Thompson Siegel & Walmsley LLC boosted its holdings in Euronet Worldwide by 5.4% during the third quarter. Thompson Siegel & Walmsley LLC now owns 161,283 shares of the business services provider’s stock worth $16,004,000 after purchasing an additional 8,230 shares during the last quarter. 91.60% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CEO Juan Bianchi sold 4,000 shares of the stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $102.58, for a total value of $410,320.00. Following the transaction, the chief executive officer now owns 12,440 shares of the company’s stock, valued at $1,276,095.20. This represents a 24.33 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 10.50% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Citigroup cut shares of Euronet Worldwide from a “buy” rating to a “neutral” rating and cut their price target for the stock from $118.00 to $110.00 in a report on Friday, October 18th. Needham & Company LLC dropped their target price on shares of Euronet Worldwide from $125.00 to $120.00 and set a “buy” rating on the stock in a research note on Thursday, October 24th. Oppenheimer boosted their target price on shares of Euronet Worldwide from $121.00 to $135.00 and gave the company an “outperform” rating in a research note on Monday. DA Davidson reiterated a “buy” rating and issued a $136.00 target price on shares of Euronet Worldwide in a research note on Tuesday, October 8th. Finally, StockNews.com upgraded shares of Euronet Worldwide from a “hold” rating to a “buy” rating in a research note on Tuesday, November 12th. Three equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $127.13.

Euronet Worldwide Stock Performance

NASDAQ EEFT opened at $105.43 on Wednesday. The company’s 50 day moving average is $100.15 and its 200-day moving average is $103.64. Euronet Worldwide, Inc. has a 12-month low of $86.26 and a 12-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 firm has a market cap of $4.63 billion, a P/E ratio of 15.24 and a beta of 1.46.

Euronet Worldwide (NASDAQ:EEFT) last posted its quarterly earnings results on Wednesday, October 23rd. The business services provider reported $3.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.92 by $0.11. Euronet Worldwide had a net margin of 8.49% and a return on equity of 26.86%. The company had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.04 billion. During the same quarter in the previous year, the firm posted $2.53 earnings per share. Sell-side analysts predict that Euronet Worldwide, Inc. will post 7.87 earnings per share for the current year.

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.