Bank of Nova Scotia Buys Shares of 12,050 Euronet Worldwide, Inc. $EEFT

Bank of Nova Scotia purchased a new position in shares of Euronet Worldwide, Inc. (NASDAQ:EEFT) during the first quarter, Holdings Channel.com reports. The fund purchased 12,050 shares of the business services provider’s stock, valued at approximately $800,000.

Other hedge funds have also made changes to their positions in the company. Weitz Investment Management Inc. acquired a new position in shares of Euronet Worldwide in the fourth quarter valued at approximately $12,178,000. Rock Creek Group LP lifted its holdings in Euronet Worldwide by 233.3% during the 4th quarter. Rock Creek Group LP now owns 100,000 shares of the business services provider’s stock worth $7,611,000 after buying an additional 70,000 shares in the last quarter. New Age Alpha Advisors LLC lifted its holdings in Euronet Worldwide by 102.6% during the 4th quarter. New Age Alpha Advisors LLC now owns 34,932 shares of the business services provider’s stock worth $2,659,000 after buying an additional 17,690 shares in the last quarter. Reinhart Partners LLC. boosted its position in Euronet Worldwide by 24.9% in the 4th quarter. Reinhart Partners LLC. now owns 1,348,340 shares of the business services provider’s stock valued at $102,623,000 after buying an additional 268,542 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH boosted its position in Euronet Worldwide by 141.6% in the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 42,799 shares of the business services provider’s stock valued at $3,252,000 after buying an additional 25,085 shares during the period. Institutional investors and hedge funds own 91.60% of the company’s stock.

Euronet Worldwide Stock Up 1.1%

EEFT stock opened at $83.67 on Thursday. The company’s 50 day moving average price is $72.49 and its 200 day moving average price is $71.56. The company has a debt-to-equity ratio of 1.29, a quick ratio of 1.28 and a current ratio of 1.28. Euronet Worldwide, Inc. has a fifty-two week low of $62.50 and a fifty-two week high of $105.86. The firm has a market capitalization of $3.19 billion, a price-to-earnings ratio of 12.07, a PEG ratio of 0.65 and a beta of 0.83.

Euronet Worldwide (NASDAQ:EEFT) last issued its earnings results on Wednesday, April 29th. The business services provider reported $1.58 earnings per share for the quarter, beating the consensus estimate of $1.42 by $0.16. Euronet Worldwide had a net margin of 7.15% and a return on equity of 28.37%. The firm had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $969.68 million. During the same quarter last year, the company earned $1.13 earnings per share. The firm’s revenue was up 10.5% compared to the same quarter last year. On average, equities research analysts anticipate that Euronet Worldwide, Inc. will post 9.83 EPS for the current fiscal year.

Analyst Ratings Changes

EEFT has been the subject of several research reports. Weiss Ratings upgraded shares of Euronet Worldwide from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday. DA Davidson reiterated a “buy” rating and issued a $102.00 price objective on shares of Euronet Worldwide in a research note on Friday, July 10th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $85.00 target price on shares of Euronet Worldwide in a report on Friday, May 22nd. Three equities 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. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $95.00.

Insider Buying and Selling

In other news, Director Thomas A. Mcdonnell acquired 3,000 shares of the company’s stock in a transaction on Tuesday, May 26th. The shares were bought at an average cost of $66.87 per share, with a total value of $200,610.00. Following the transaction, the director owned 100,219 shares in the company, valued at approximately $6,701,644.53. This trade represents a 3.09% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 12.19% of the stock is owned by company insiders.

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.