Granahan Investment Management Inc. MA Increases Stake in Euronet Worldwide, Inc. (EEFT)

Granahan Investment Management Inc. MA lifted its position in Euronet Worldwide, Inc. (NASDAQ:EEFT) by 88.8% in the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 76,615 shares of the business services provider’s stock after acquiring an additional 36,033 shares during the period. Granahan Investment Management Inc. MA owned 0.15% of Euronet Worldwide worth $6,418,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the company. Creative Planning raised its position in shares of Euronet Worldwide by 2.7% in the 2nd quarter. Creative Planning now owns 22,470 shares of the business services provider’s stock worth $1,882,000 after acquiring an additional 585 shares in the last quarter. Oppenheimer Asset Management Inc. raised its position in shares of Euronet Worldwide by 4.8% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 13,413 shares of the business services provider’s stock worth $1,059,000 after acquiring an additional 615 shares in the last quarter. Amalgamated Bank raised its position in shares of Euronet Worldwide by 6.7% in the 1st quarter. Amalgamated Bank now owns 10,724 shares of the business services provider’s stock worth $846,000 after acquiring an additional 678 shares in the last quarter. State of Alaska Department of Revenue raised its position in shares of Euronet Worldwide by 19.7% in the 2nd quarter. State of Alaska Department of Revenue now owns 5,530 shares of the business services provider’s stock worth $463,000 after acquiring an additional 910 shares in the last quarter. Finally, D.A. Davidson & CO. raised its position in shares of Euronet Worldwide by 25.2% in the 2nd quarter. D.A. Davidson & CO. now owns 4,726 shares of the business services provider’s stock worth $396,000 after acquiring an additional 950 shares in the last quarter. 99.45% of the stock is owned by hedge funds and other institutional investors.

A number of research firms recently weighed in on EEFT. Goldman Sachs Group lowered Euronet Worldwide from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $101.00 to $94.00 in a research report on Monday, June 11th. ValuEngine raised Euronet Worldwide from a “sell” rating to a “hold” rating in a research report on Monday, June 18th. BidaskClub raised Euronet Worldwide from a “hold” rating to a “buy” rating in a research report on Friday, June 22nd. Zacks Investment Research lowered Euronet Worldwide from a “hold” rating to a “sell” rating in a research report on Wednesday, July 11th. Finally, Needham & Company LLC raised their price objective on Euronet Worldwide from $100.00 to $110.00 and gave the company a “buy” rating in a research report on Thursday, July 26th. One analyst has rated the stock with a sell rating, three have issued a hold rating and nine have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $110.56.

In other Euronet Worldwide news, CEO Michael J. Brown sold 50,000 shares of Euronet Worldwide stock in a transaction on Wednesday, September 12th. The stock was sold at an average price of $101.05, for a total value of $5,052,500.00. Following the completion of the sale, the chief executive officer now owns 1,511,118 shares of the company’s stock, valued at approximately $152,698,473.90. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Jeffrey B. Newman sold 5,000 shares of Euronet Worldwide stock in a transaction on Wednesday, September 5th. The stock was sold at an average price of $97.26, for a total value of $486,300.00. The disclosure for this sale can be found here. In the last three months, insiders sold 263,413 shares of company stock valued at $25,578,542. Corporate insiders own 7.70% of the company’s stock.

EEFT stock opened at $102.30 on Monday. Euronet Worldwide, Inc. has a twelve month low of $70.67 and a twelve month high of $102.50. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.18 and a quick ratio of 1.18. The company has a market cap of $5.17 billion, a P/E ratio of 23.63, a P/E/G ratio of 1.48 and a beta of 1.47.

Euronet Worldwide (NASDAQ:EEFT) last posted its earnings results on Tuesday, July 24th. The business services provider reported $1.32 EPS for the quarter, hitting the Zacks’ consensus estimate of $1.32. The business had revenue of $622.20 million during the quarter, compared to analyst estimates of $618.93 million. Euronet Worldwide had a return on equity of 21.71% and a net margin of 6.11%. The company’s quarterly revenue was up 16.0% compared to the same quarter last year. During the same quarter last year, the company earned $1.09 EPS. equities research analysts forecast that Euronet Worldwide, Inc. will post 5.15 earnings per share for the current fiscal year.

Euronet Worldwide Company Profile

Euronet Worldwide, Inc provides payment and transaction processing and distribution solutions to financial institutions, retailers, service providers, and individual consumers worldwide. The company operates in three segments: Electronic Financial Transaction (EFT) Processing, epay, and Money Transfer.

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Institutional Ownership by Quarter for Euronet Worldwide (NASDAQ:EEFT)

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