Convergence Investment Partners LLC Buys 6,104 Shares of Euronet Worldwide, Inc. (NASDAQ:EEFT)

Convergence Investment Partners LLC grew its stake in shares of Euronet Worldwide, Inc. (NASDAQ:EEFT) by 92.3% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 12,720 shares of the business services provider’s stock after acquiring an additional 6,104 shares during the quarter. Convergence Investment Partners LLC’s holdings in Euronet Worldwide were worth $1,308,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. R Squared Ltd bought a new stake in shares of Euronet Worldwide during the 4th quarter worth $58,000. GAMMA Investing LLC lifted its position in shares of Euronet Worldwide by 121.3% during the 4th quarter. GAMMA Investing LLC now owns 954 shares of the business services provider’s stock worth $98,000 after buying an additional 523 shares during the last quarter. Blue Trust Inc. lifted its position in shares of Euronet Worldwide by 26.1% during the 4th quarter. Blue Trust Inc. now owns 989 shares of the business services provider’s stock worth $98,000 after buying an additional 205 shares during the last quarter. Quarry LP lifted its position in shares of Euronet Worldwide by 21.6% during the 3rd quarter. Quarry LP now owns 1,087 shares of the business services provider’s stock worth $108,000 after buying an additional 193 shares during the last quarter. Finally, Daiwa Securities Group Inc. bought a new stake in shares of Euronet Worldwide during the 3rd quarter worth $109,000. 91.60% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CEO Nikos Fountas sold 21,479 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $103.56, for a total transaction of $2,224,365.24. Following the completion of the sale, the chief executive officer now owns 52,370 shares of the company’s stock, valued at $5,423,437.20. This trade represents a 29.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Kevin J. Caponecchi sold 52,034 shares of the firm’s 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 of the company’s stock, valued at $9,625,603.68. This represents a 36.56 % 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 90 days. Company insiders own 10.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on EEFT shares. Monness Crespi & Hardt upgraded Euronet Worldwide from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 24th. Keefe, Bruyette & Woods upped their target price on Euronet Worldwide from $108.00 to $112.00 and gave the stock a “market perform” rating in a report on Friday, February 14th. StockNews.com cut Euronet Worldwide from a “buy” rating to a “hold” rating in a report on Thursday, February 13th. Oppenheimer lowered their target price on Euronet Worldwide from $135.00 to $128.00 and set an “outperform” rating for the company in a report on Thursday, December 19th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $120.00 target price on shares of Euronet Worldwide in a report on Thursday, December 12th. Four investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Euronet Worldwide presently has an average rating of “Moderate Buy” and a consensus target price of $127.00.

Euronet Worldwide Trading Down 1.2 %

Shares of EEFT stock opened at $108.59 on Thursday. The stock has a market cap of $4.77 billion, a price-to-earnings ratio of 16.78, a PEG ratio of 0.83 and a beta of 1.43. The stock has a 50-day moving average of $101.03 and a 200-day moving average of $101.06. The company has a current ratio of 1.25, a quick ratio of 1.26 and a debt-to-equity ratio of 0.92. Euronet Worldwide, Inc. has a 1-year low of $91.07 and a 1-year high of $117.66.

Euronet Worldwide (NASDAQ:EEFT) last issued its quarterly earnings results on Wednesday, February 12th. The business services provider reported $1.82 earnings per share for the quarter, missing the consensus estimate of $2.05 by ($0.23). Euronet Worldwide had a net margin of 7.69% and a return on equity of 27.74%. On average, equities research analysts forecast that Euronet Worldwide, Inc. will post 8.99 earnings per share for the current year.

Euronet Worldwide 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.