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The following is a list of top seven buys by Evercore Asset Management, LLC, from the last quarter.

Stock

Symbol

Shares Held - 06/30/2011

Shares Held - 09/30/2011

Change in shares

Euronet Worldwide Inc.

EEFT

0

325,665

325,665

Medifast Inc.

MED

0

247,874

247,874

Con-Way Inc.

CNW

0

160,084

160,084

Navigant Consulting Inc.

NCI

0

390,457

390,457

Brookdale Senior Living Inc.

BKD

0

288,452

288,452

Wabash National Corp.

WNC

0

731,704

731,704

Perry Ellis International Inc.

PERY

0

172,052

172,052

Source: 13f filing.

I like Euronet Worldwide Inc. the most among the above stocks. Euronet Worldwide is an electronic payments provider. It offers payment and transaction processing and distribution solutions to financial institutions, retailers, service providers and individual consumers. It has three segments: EFT Processing Segment, epay Segment and Money Transfer Segment. Euronet’s EPS forecast for the current year is 1.42, and next year is 1.62. According to the consensus estimates, its top line is expected to grow 9.90% in the current year and 7.20% next year.

Trading at 10.8x forward earnings, I believe EEFT is significantly undervalued given its improving earnings visibility driven by better ATM comparisons, ongoing diversification of the ePay business and the improved financial flexibility of the company. The company has had relatively disappointing results over the past couple of years, principally due to pricing issues in ATM. However 2012 could be a transition year, and the underlying growth of the business should be more visible. EPay’s recently announced exclusive agreement with Boost Mobile, Virgin Mobil USA and Assurance Wireless is one such example, which points to the competitive strength of EEFT due to its scale, balance sheet flexibility and culture of innovation.

Also, Euronet recently acquired Hamburg, Germany-based Cadooz Holding GmbH. Cadooz is an incentives company that specializes in loyalty and gift vouchers and rewards programs. Cadooz has increased revenue at compound annual rate of more than 30% over the last three years. Although the purchase price was not provided, the acquisition is expected to add $0.03-$0.04 to Euronet’s cash earnings in its first full year of operations, excluding any potential revenue or cost synergies.

Medifast Inc. is engaged in the production, distribution, and sale of weight management and disease management products and other consumable health and diet products. The product lines include weight and disease management, meal replacement, and vitamins. Medifast’s EPS forecast for the current year is 1.51 and next year is 1.83. According to the consensus estimates, its top line is expected to grow 19.20% in the current year and 21.40% next year.

Con-way Inc. provides transportation, logistics and supply-chain management services for a wide range of manufacturing, industrial and retail customers. The company operates in four segments: Freight, Logistics, Truckload and Other. Con-way’s EPS forecast for the current year is 1.66 and next year is 2.23. According to the consensus estimates, its top line is expected to grow 6.10% in the current year and 5.00% next year.

Navigant Consulting Inc. is an independent specialty consulting firm. Professional services include dispute, investigative, economic, operational, risk management and financial and risk advisory solutions. It operates in four segments: Dispute and Investigative Services, Business Consulting Services, International Consulting, and Economic Consulting. Navigant Consulting’s EPS forecast for the current year is 0.78 and next year is 0.91. According to the consensus estimates, its top line is expected to grow 8.60% in the current year and 6.70% next year.

Brookdale Senior Living Inc. is an operator of senior living communities in the United States. The company offers its residents access to a full continuum of services across the most attractive sectors of the senior living industry. The company operates in four business segments: retirement centres, assisted living, continuing care retirement communities and management services. Brookdale’s EPS forecast for the current year is -0.35 and next year is 0.10. According to the consensus estimates, its top line is expected to grow 4.40% in the current year and 6.90% next year.

Wabash National Corporation is engaged in designing, manufacturing and marketing standard and customized truck trailers and related transportation equipment. The company is a producer of standardized sheet and post and refrigerated trailer products. It operates in two segments: manufacturing, and retail and distribution. Wabash’s EPS forecast for the current year is 0.28 and next year is 0.90. According to the consensus estimates, its top line is expected to grow 82.70% in the current year and 25.00% next year.

Perry Ellis International Inc. is an apparel company in the United States. The company designs, sources, markets and licenses its products nationally and internationally at multiple price points and across all major levels of retail distribution in approximately 15,000 selling doors. Perry Ellis’ EPS forecast for the current year is 2.52 and next year is 2.79. According to the consensus estimates, its top line is expected to grow 28.30% in the current year and 7.90% next year.

Checkpoint Systems Inc. is engaged in shrink management, merchandise visibility and apparel labelling solutions. The company operates through three segments: Shrink Management Solutions, Apparel Labelling Solutions and Retail Merchandising Solutions. Checkpoint System’s EPS forecast for the current year is 1.27 and next year is 1.56. According to the consensus estimates, its top line is expected to grow 11.20% in the current year and 10.00% next year.

Source: Evercore Asset Management's Top Q3 Buys