Euronet Worldwide, Inc. (NASDAQ:EEFT) Shares Acquired by M&T Bank Corp

M&T Bank Corp boosted its stake in Euronet Worldwide, Inc. (NASDAQ:EEFT) by 7.0% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 4,245 shares of the business services provider’s stock after purchasing an additional 279 shares during the period. M&T Bank Corp’s holdings in Euronet Worldwide were worth $421,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC grew its position in shares of Euronet Worldwide by 0.8% during the third quarter. Allspring Global Investments Holdings LLC now owns 3,356,229 shares of the business services provider’s stock worth $333,039,000 after acquiring an additional 27,254 shares during the last quarter. Hotchkis & Wiley Capital Management LLC boosted its stake in Euronet Worldwide by 13.6% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 1,064,233 shares of the business services provider’s stock valued at $105,604,000 after purchasing an additional 127,240 shares during the period. Van Berkom & Associates Inc. grew its position in Euronet Worldwide by 1.4% in the 2nd quarter. Van Berkom & Associates Inc. now owns 1,022,153 shares of the business services provider’s stock worth $105,793,000 after purchasing an additional 14,090 shares during the last quarter. Burgundy Asset Management Ltd. grew its position in Euronet Worldwide by 1.4% in the 2nd 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. Finally, Dimensional Fund Advisors LP increased its stake in shares of Euronet Worldwide by 17.7% in the second 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 during the period. 91.60% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently issued reports on EEFT. Oppenheimer boosted their price objective on Euronet Worldwide from $121.00 to $135.00 and gave the stock an “outperform” rating in a research report on Monday, November 25th. DA Davidson reissued a “buy” rating and issued a $136.00 price target on shares of Euronet Worldwide in a research note on Tuesday, October 8th. Monness Crespi & Hardt raised Euronet Worldwide from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 24th. Citigroup downgraded shares of Euronet Worldwide from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $118.00 to $110.00 in a report on Friday, October 18th. Finally, Needham & Company LLC reissued a “buy” rating and set a $120.00 target price on shares of Euronet Worldwide in a research note on Thursday, December 12th. Four investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Euronet Worldwide currently has an average rating of “Moderate Buy” and a consensus target price of $127.13.

Insider Activity

In other Euronet Worldwide news, SVP Martin L. Bruckner sold 9,397 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $107.31, for a total transaction of $1,008,392.07. Following the sale, the senior vice president now owns 39,983 shares in the company, valued at approximately $4,290,575.73. The trade was a 19.03 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Kevin J. Caponecchi sold 52,034 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $106.61, for a total transaction of $5,547,344.74. Following the completion of the transaction, the chief executive officer now owns 90,288 shares of the company’s stock, valued at approximately $9,625,603.68. The trade was a 36.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 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.

Euronet Worldwide Stock Down 4.1 %

NASDAQ EEFT opened at $101.98 on Thursday. Euronet Worldwide, Inc. has a 12 month low of $91.07 and a 12 month high of $117.66. The company has a market capitalization of $4.48 billion, a P/E ratio of 14.74, a PEG ratio of 0.95 and a beta of 1.44. The company’s 50 day simple moving average is $102.04 and its 200 day simple moving average is $102.54. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.26 and a quick ratio of 1.26.

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. The company had revenue of $1.11 billion for the quarter, compared to analysts’ expectations 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 company earned $2.53 earnings per share. Equities research analysts expect that Euronet Worldwide, Inc. will post 7.87 earnings per share 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.