Euronet Worldwide (NASDAQ:EEFT) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Monday.
According to Zacks, “Euronet Services Inc. is an industry leader in providing secure electronic financial transaction solutions. The company offers financial payment middleware, financial network gateways, outsourcing and consulting services to financial institutions and mobile operators. (Press Release) “
Other analysts have also recently issued reports about the stock. DA Davidson lifted their target price on shares of Euronet Worldwide to $118.00 and gave the company a “buy” rating in a research note on Thursday. Piper Jaffray Companies reiterated a “buy” rating and issued a $112.00 target price on shares of Euronet Worldwide in a research note on Sunday, October 22nd. Northland Securities reiterated a “buy” rating and issued a $110.00 target price on shares of Euronet Worldwide in a research note on Thursday, October 19th. Goldman Sachs Group initiated coverage on shares of Euronet Worldwide in a research note on Thursday, December 14th. They issued a “buy” rating and a $110.00 target price for the company. Finally, BidaskClub upgraded shares of Euronet Worldwide from a “sell” rating to a “hold” rating in a research note on Thursday, December 7th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $110.71.
Euronet Worldwide (EEFT) traded down $3.12 during midday trading on Monday, reaching $85.58. 734,113 shares of the company’s stock were exchanged, compared to its average volume of 488,427. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.48 and a quick ratio of 1.44. The firm has a market capitalization of $4,510.00, a PE ratio of 22.58, a PEG ratio of 1.17 and a beta of 1.43. Euronet Worldwide has a 1 year low of $70.78 and a 1 year high of $101.07.
In other news, CEO Michael J. Brown sold 20,000 shares of Euronet Worldwide stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $91.22, for a total value of $1,824,400.00. Following the transaction, the chief executive officer now owns 1,522,348 shares of the company’s stock, valued at $138,868,584.56. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Rick Weller sold 15,601 shares of Euronet Worldwide stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $92.01, for a total transaction of $1,435,448.01. Following the completion of the transaction, the chief financial officer now directly owns 80,285 shares in the company, valued at approximately $7,387,022.85. The disclosure for this sale can be found here. In the last three months, insiders sold 48,297 shares of company stock worth $4,428,004. Insiders own 7.70% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. Bristlecone Advisors LLC bought a new position in shares of Euronet Worldwide in the third quarter valued at approximately $113,000. FNY Managed Accounts LLC bought a new position in Euronet Worldwide during the fourth quarter worth $126,000. The Manufacturers Life Insurance Company increased its position in Euronet Worldwide by 7.3% during the second quarter. The Manufacturers Life Insurance Company now owns 1,696 shares of the business services provider’s stock worth $149,000 after acquiring an additional 116 shares during the period. Turner Investments LLC bought a new position in Euronet Worldwide during the third quarter worth $174,000. Finally, Pitcairn Co. bought a new position in Euronet Worldwide during the third quarter worth $200,000. 93.68% of the stock is currently owned by institutional investors.
Euronet Worldwide Company Profile
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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