New York State Common Retirement Fund reduced its position in Euronet Worldwide, Inc. (NASDAQ:EEFT) by 7.0% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 155,289 shares of the business services provider’s stock after selling 11,631 shares during the period. New York State Common Retirement Fund owned about 0.29% of Euronet Worldwide worth $14,720,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in the business. Cambiar Investors LLC grew its stake in shares of Euronet Worldwide by 1.8% during the 3rd quarter. Cambiar Investors LLC now owns 44,460 shares of the business services provider’s stock valued at $4,214,000 after buying an additional 785 shares during the period. Sei Investments Co. grew its stake in shares of Euronet Worldwide by 14.2% during the 3rd quarter. Sei Investments Co. now owns 117,903 shares of the business services provider’s stock valued at $11,175,000 after buying an additional 14,635 shares during the period. FDx Advisors Inc. grew its stake in shares of Euronet Worldwide by 12.5% during the 3rd quarter. FDx Advisors Inc. now owns 14,763 shares of the business services provider’s stock valued at $1,399,000 after buying an additional 1,641 shares during the period. Pitcairn Co. purchased a new stake in shares of Euronet Worldwide during the 3rd quarter valued at $200,000. Finally, Keybank National Association OH purchased a new stake in shares of Euronet Worldwide during the 3rd quarter valued at $242,000. 95.39% of the stock is owned by hedge funds and other institutional investors.
In related news, CEO Michael J. Brown sold 63,538 shares of Euronet Worldwide stock in a transaction on Monday, October 23rd. The shares were sold at an average price of $100.06, for a total transaction of $6,357,612.28. Following the transaction, the chief executive officer now owns 1,603,486 shares in the company, valued at approximately $160,444,809.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Nikos Fountas sold 296 shares of Euronet Worldwide stock in a transaction on Thursday, December 14th. The shares were sold at an average price of $92.00, for a total transaction of $27,232.00. Following the transaction, the chief executive officer now owns 550 shares in the company, valued at approximately $50,600. The disclosure for this sale can be found here. Insiders have sold a total of 78,634 shares of company stock worth $7,765,768 in the last 90 days. Company insiders own 7.70% of the company’s stock.
Euronet Worldwide (NASDAQ:EEFT) last posted its earnings results on Thursday, October 19th. The business services provider reported $1.61 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.61. The business had revenue of $637.90 million for the quarter, compared to analyst estimates of $595.09 million. Euronet Worldwide had a net margin of 9.63% and a return on equity of 22.46%. The business’s quarterly revenue was up 21.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.35 EPS. research analysts forecast that Euronet Worldwide, Inc. will post 4.33 earnings per share for the current fiscal year.
EEFT has been the subject of several research reports. Zacks Investment Research cut shares of Euronet Worldwide from a “buy” rating to a “hold” rating in a research note on Thursday, October 26th. SunTrust Banks reissued a “buy” rating and set a $120.00 price objective on shares of Euronet Worldwide in a research note on Friday, October 6th. Piper Jaffray Companies reissued a “buy” rating and set a $112.00 price objective on shares of Euronet Worldwide in a research note on Sunday, October 22nd. Northland Securities reissued a “buy” rating and set a $110.00 price objective on shares of Euronet Worldwide in a research note on Thursday, October 19th. Finally, Goldman Sachs Group initiated coverage on shares of Euronet Worldwide in a research note on Thursday. They set a “buy” rating and a $110.00 price objective for the company. One investment analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $108.86.
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About Euronet Worldwide
Euronet Worldwide, Inc is an electronic payments provider. The Company offers payment and transaction processing and distribution solutions to financial institutions, retailers, service providers and individual consumers. Its product offerings include automated teller machine (ATM), point-of-sale (POS), card outsourcing, card issuing and merchant acquiring services, electronic distribution of prepaid mobile airtime and other electronic payment products.
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