Clearbridge Investments LLC, an investment firm, recently increased its stake in Euronet Worldwide, Inc. (NASDAQ:EEFT) by 3.0% during the first quarter of this year. According to the company’s disclosure with the Securities and Exchange Commission (SEC), Clearbridge Investments now owns 542,609 shares of Euronet Worldwide, worth approximately $60,718,000.
Euronet Worldwide is a global provider of payment and transaction processing solutions for various entities such as financial institutions, retailers, service providers, and individual consumers. The company operates through three segments: Electronic Fund Transfer Processing, epay, and Money Transfer.
Under the Electronic Fund Transfer Processing segment, Euronet Worldwide offers electronic payment solutions including ATM cash withdrawal and deposit services, participation in ATM networks, outsourced management solutions for ATMs and point-of-sale systems (POS), credit and debit card outsourcing services, card issuing services, and merchant acquiring services.
The epay segment focuses on providing electronic distribution solutions to retailers through prepaid mobile airtime top-up services, prepaid debit cards, prepaid gift cards, digital media content distribution platforms for non-monetary transactions like entertainment downloads or online gaming purchases.
The Money Transfer segment specializes in facilitating person-to-person money transfers across borders through various channels such as bank transfers or cash pick-ups at agent locations.
Euronet Worldwide has established itself as a leading player in the global payments industry. Its wide range of services caters to different needs within the financial landscape. With its extensive network and robust infrastructure, the company is well-positioned to serve its diverse clientele efficiently.
As of September 4, 2023,* Clearbridge Investments’ increased stake reflects its confidence in Euronet Worldwide’s performance and growth potential. By investing additional capital into the company’s stock, Clearbridge acknowledges Euronet Worldwide’s ability to generate value for shareholders over time.
Investors may find it valuable to review Euronet Worldwide’s latest research report to gain a deeper understanding of the company’s financials, operations, and market positioning. This report can provide valuable insights into Euronet Worldwide’s strategies and potential future developments.
In conclusion, Clearbridge Investments LLC has increased its stake in Euronet Worldwide, Inc., recognizing the company’s strong position in the payment and transaction processing industry. With its diverse range of solutions and global reach, Euronet Worldwide remains an attractive investment opportunity for shareholders seeking exposure to the evolving financial services landscape.
*Please note that this article is referencing a fictional date (September 4, 2023) provided by the user.
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Hedge Funds Increase Holdings in Euronet Worldwide, Indicating Confidence in Business Services Provider
Euronet Worldwide, a business services provider, has recently seen several hedge funds modifying their holdings of the stock. Sei Investments Co., for example, has increased its holdings in Euronet Worldwide by 48.7% during the first quarter, now owning 360,662 shares worth $40,358,000. This increase came after purchasing an additional 118,078 shares during the period.
Martingale Asset Management LP also lifted its holdings in Euronet Worldwide by 8.4% during the same time frame. The company now owns 26,502 shares valued at $2,966,000 after acquiring an additional 2,060 shares.
Similarly, Dimensional Fund Advisors LP saw an increase of 11.3% in their holdings of Euronet Worldwide during the first quarter. They now own 546,224 shares valued at $61,117,000 after acquiring an additional 55,653 shares.
Blair William & Co. IL and William Blair Investment Management LLC also reported significant increases in their holdings of Euronet Worldwide during this period.
Interestingly enough, according to Bloomberg data, approximately 94.63% of the stock is owned by institutional investors and hedge funds.
Analyst reports have been mixed regarding Euronet Worldwide’s performance. TheStreet downgraded the stock from a “b-” rating to a “c+” rating on August 10th. Needham & Company LLC reduced their target price from $125.00 to $115.00 and maintained a “buy” rating for the company on August 23rd. Citigroup also reduced their target price on the stock from $119.00 to $93.00 and gave it a “neutral” rating on August 8th.
On another note, StockNews.com began covering Euronet Worldwide on August 17th with a “hold” rating.
As for financial figures related to Euronet Worldwide, the stock opened at $87.26 on Monday and has a market cap of $4.33 billion. It currently has a price-to-earnings ratio of 16.72 and a beta of 1.28.
The company’s 50-day moving average price is $99.72, while its 200-day moving average price stands at $106.53. Euronet Worldwide has experienced a range between $71.60 and $121.55 as its 52-week low and high, respectively.
In terms of financial performance, in its last quarterly earnings report on July 25th, Euronet Worldwide reported earnings per share (EPS) of $1.84, surpassing analysts’ consensus estimates by $0.03. The company achieved revenue of $939.10 million during the quarter, exceeding analysts’ expectations of $922.29 million.
Euronet Worldwide currently holds a return on equity of 24.92% and a net margin of 7.77%.
Looking ahead, equities research analysts predict that Euronet Worldwide will post earnings per share (EPS) of 6.48 for the current fiscal year.
Overall, while there have been fluctuations in analyst ratings and reports about Euronet Worldwide, the company’s recent increase in holdings by several hedge funds indicates potential confidence in its future prospects within the business services sector.
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