Euronet Worldwide, Inc. $EEFT Stock Sold by Van Berkom & Associates Inc.

Key Points

• Van Berkom & Associates cut its Euronet Worldwide stake by 12.9%, selling 145,711 shares in the third quarter; it still held 985,261 shares, valued at about $61.9 million.
• Analysts’ consensus rating was Hold, with an average price target of $73.40. Recent target cuts included Needham’s reduction to $75 and DA Davidson’s to $84, though both maintained Buy ratings.
• Euronet reported quarterly EPS of $3.55 and revenue of $1.16 billion, both below analyst estimates; revenue was up 1.3% year over year.

Van Berkom & Associates Inc. decreased its holdings in Euronet Worldwide, Inc. (NASDAQ:EEFT - Free Report) by 12.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 985,261 shares of the business services provider's stock after selling 145,711 shares during the quarter. Euronet Worldwide comprises about 2.2% of Van Berkom & Associates Inc.'s portfolio, making the stock its 24th biggest position. Van Berkom & Associates Inc. owned approximately 2.59% of Euronet Worldwide worth $61,943,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the business. Parallel Advisors LLC raised its stake in Euronet Worldwide by 23.6% in the first quarter. Parallel Advisors LLC now owns 775 shares of the business services provider's stock valued at $51,000 after buying an additional 148 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of Euronet Worldwide by 11.4% during the first quarter. PNC Financial Services Group Inc. now owns 1,733 shares of the business services provider's stock valued at $115,000 after acquiring an additional 177 shares in the last quarter. State of Michigan Retirement System increased its holdings in shares of Euronet Worldwide by 2.2% during the first quarter. State of Michigan Retirement System now owns 9,417 shares of the business services provider's stock valued at $625,000 after acquiring an additional 200 shares in the last quarter. Oregon Public Employees Retirement Fund raised its position in shares of Euronet Worldwide by 2.6% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 7,980 shares of the business services provider's stock valued at $530,000 after purchasing an additional 200 shares during the last quarter. Finally, Net Worth Advisory Group raised its position in shares of Euronet Worldwide by 8.6% in the 3rd quarter. Net Worth Advisory Group now owns 3,339 shares of the business services provider's stock valued at $212,000 after purchasing an additional 263 shares during the last quarter. 91.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on EEFT. Needham & Company LLC lowered their target price on shares of Euronet Worldwide from $90.00 to $75.00 and set a "buy" rating for the company in a research note on Tuesday, October 27th. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Euronet Worldwide in a report on Wednesday, October 28th. Wolfe Research lowered their price objective on shares of Euronet Worldwide from $75.00 to $70.00 and set an "underperform" rating for the company in a research note on Tuesday, August 25th. Weiss Ratings reissued a "hold (c-)" rating on shares of Euronet Worldwide in a report on Wednesday, November 4th. Finally, DA Davidson dropped their price objective on shares of Euronet Worldwide from $94.00 to $84.00 and set a "buy" rating on the stock in a report on Wednesday, October 28th. Three research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $73.40.

Euronet Worldwide Trading Up 0.1%

Euronet Worldwide stock opened at $70.92 on Tuesday. The company has a quick ratio of 1.37, a current ratio of 1.42 and a debt-to-equity ratio of 1.31. Euronet Worldwide, Inc. has a 52 week low of $57.48 and a 52 week high of $83.97. The company has a market capitalization of $2.70 billion, a price-to-earnings ratio of 11.53, a price-to-earnings-growth ratio of 0.58 and a beta of 0.92. The stock has a 50-day moving average price of $66.57 and a 200 day moving average price of $70.30.

Euronet Worldwide (NASDAQ:EEFT - Get Free Report) last issued its quarterly earnings results on Tuesday, October 27th. The business services provider reported $3.55 earnings per share for the quarter, missing the consensus estimate of $3.66 by ($0.11). Euronet Worldwide had a return on equity of 27.44% and a net margin of 6.41%. The business had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.19 billion. During the same quarter last year, the company posted $3.62 EPS. Euronet Worldwide's quarterly revenue was up 1.3% compared to the same quarter last year. Sell-side analysts anticipate that Euronet Worldwide, Inc. will post 9.35 EPS for the current year.

About Euronet Worldwide

Euronet Worldwide is a global provider of electronic payment and transaction-processing services. Founded in 1994, the company began by developing electronic funds transfer services in Central Europe and has since expanded its offerings and international reach.

Its EFT Processing business provides ATM and point-of-sale services, including network operations, payment processing and outsourced solutions for financial institutions and businesses. Through its epay business, Euronet distributes prepaid mobile airtime and other digital products.

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