Lapides Asset Management LLC Raises Stock Position in Euronet Worldwide, Inc. (NASDAQ:EEFT)

Lapides Asset Management LLC increased its stake in Euronet Worldwide, Inc. (NASDAQ:EEFT) by 15.6% in the 3rd quarter, Holdings Channel.com reports. The fund owned 47,500 shares of the business services provider’s stock after acquiring an additional 6,400 shares during the quarter. Euronet Worldwide comprises approximately 2.5% of Lapides Asset Management LLC’s investment portfolio, making the stock its 13th biggest position. Lapides Asset Management LLC’s holdings in Euronet Worldwide were worth $6,046,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Ameritas Investment Company LLC purchased a new stake in shares of Euronet Worldwide during the first quarter worth $31,000. First Mercantile Trust Co. purchased a new stake in shares of Euronet Worldwide during the second quarter worth $39,000. Eagle Bay Advisors LLC purchased a new stake in shares of Euronet Worldwide during the second quarter worth $54,000. SRS Capital Advisors Inc. purchased a new stake in shares of Euronet Worldwide during the second quarter worth $147,000. Finally, Captrust Financial Advisors purchased a new stake in shares of Euronet Worldwide during the first quarter worth $178,000. 93.28% of the stock is owned by institutional investors.

A number of research firms have recently issued reports on EEFT. Truist dropped their target price on shares of Euronet Worldwide from $225.00 to $185.00 and set a “buy” rating for the company in a report on Friday, October 22nd. Zacks Investment Research raised shares of Euronet Worldwide from a “strong sell” rating to a “hold” rating and set a $129.00 price objective for the company in a report on Monday, October 25th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, Euronet Worldwide presently has an average rating of “Buy” and an average price target of $166.43.

Euronet Worldwide stock traded up $1.19 during mid-day trading on Thursday, hitting $114.30. The company had a trading volume of 444,785 shares, compared to its average volume of 357,260. The stock has a market cap of $6.04 billion, a price-to-earnings ratio of 42.65 and a beta of 1.51. Euronet Worldwide, Inc. has a 1 year low of $106.96 and a 1 year high of $167.71. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 0.80. The business has a fifty day moving average of $122.90 and a 200 day moving average of $133.24.

Euronet Worldwide (NASDAQ:EEFT) last announced its quarterly earnings results on Wednesday, October 20th. The business services provider reported $1.66 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.42 by $0.24. The company had revenue of $816.60 million for the quarter, compared to analyst estimates of $784.03 million. Euronet Worldwide had a net margin of 4.98% and a return on equity of 11.54%. Equities analysts anticipate that Euronet Worldwide, Inc. will post 3.42 earnings per share for the current year.

About Euronet Worldwide

Euronet Worldwide, Inc engages in the provision of electronic payment and transaction processing solutions for financial institutions, retailers, service providers, and individual consumers. It operates through the following segments: Electronic Fund Transfer (EFT) Processing; Epay; Money Transfer; and Corporate Services, Eliminations, and Other.

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

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