Meeder Asset Management Inc. Acquires New Shares in Euronet Worldwide, Inc. $EEFT

Meeder Asset Management Inc. bought a new stake in shares of Euronet Worldwide, Inc. (NASDAQ:EEFT) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 8,012 shares of the business services provider’s stock, valued at approximately $586,000.

A number of other institutional investors and hedge funds have also modified their holdings of EEFT. BlackRock Inc. bought a new position in shares of Euronet Worldwide during the second quarter valued at $244,726,000. Deutsche Bank AG bought a new stake in Euronet Worldwide in the 2nd quarter worth about $323,000. Rice Hall James & Associates LLC purchased a new position in Euronet Worldwide in the 2nd quarter worth about $18,128,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in Euronet Worldwide in the 2nd quarter worth about $294,000. Finally, OneDigital Investment Advisors LLC purchased a new stake in shares of Euronet Worldwide during the 2nd quarter valued at about $657,000. Institutional investors own 91.60% of the company’s stock.

Insider Buying and Selling

In related news, Director Thomas A. Mcdonnell purchased 3,000 shares of Euronet Worldwide stock in a transaction on Tuesday, May 26th. The stock was acquired at an average price of $66.87 per share, for a total transaction of $200,610.00. Following the completion of the transaction, the director directly owned 100,219 shares in the company, valued at $6,701,644.53. This represents a 3.09% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 12.19% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have recently commented on EEFT shares. Weiss Ratings cut shares of Euronet Worldwide from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday, August 11th. Needham & Company LLC raised their target price on shares of Euronet Worldwide from $85.00 to $90.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. Finally, DA Davidson restated a “buy” rating and issued a $102.00 target price on shares of Euronet Worldwide in a report on Friday, July 10th. Three research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $96.00.

Euronet Worldwide Trading Down 1.9%

Shares of Euronet Worldwide stock opened at $69.21 on Wednesday. Euronet Worldwide, Inc. has a 1-year low of $62.50 and a 1-year high of $98.52. The company’s fifty day simple moving average is $73.57 and its 200-day simple moving average is $71.45. The company has a debt-to-equity ratio of 1.47, a current ratio of 1.37 and a quick ratio of 1.37. The stock has a market capitalization of $2.64 billion, a PE ratio of 10.87, a P/E/G ratio of 0.59 and a beta of 0.82.

Euronet Worldwide (NASDAQ:EEFT) last posted its quarterly earnings data on Thursday, July 30th. The business services provider reported $2.82 EPS for the quarter, missing the consensus estimate of $2.93 by ($0.11). Euronet Worldwide had a return on equity of 28.60% and a net margin of 6.63%.During the same period in the previous year, the business earned $2.56 earnings per share. The company’s quarterly revenue was up 3.2% compared to the same quarter last year. As a group, equities analysts anticipate that Euronet Worldwide, Inc. will post 9.55 earnings per share for the current year.

About Euronet Worldwide

Euronet Worldwide, Inc is a global financial technology company specializing in electronic payment services and transaction processing. Through its three primary business segments—Electronic Funds Transfer (EFT) Network Services, epay® Prepaid and Payment Services, and Money Transfer—Euronet provides end-to-end solutions that enable secure, efficient and convenient payments for consumers, financial institutions and retailers worldwide.

In its EFT Network Services arm, Euronet operates one of the world’s largest ATM and point-of-sale (POS) terminal networks, offering deployment, management and connectivity services.