Federated Hermes Inc. Sells 4,664 Shares of Euronet Worldwide, Inc. (NASDAQ:EEFT)

Key Points

• Federated Hermes Inc. reduced its position in Euronet Worldwide by 63.3%, holding 2,700 shares valued at $288,000 after selling 4,664 shares in the first quarter.
• Other hedge funds, including UMB Bank and Covestor Ltd, increased their stakes in Euronet Worldwide, with UMB Bank boosting its holdings by 92.3%.
• Analysts have a consensus rating of "Moderate Buy" for Euronet Worldwide, with a current consensus target price of $123.83 despite recent adjustments from firms like Keefe, Bruyette & Woods and Needham & Company LLC.

Federated Hermes Inc. cut its stake in Euronet Worldwide, Inc. (NASDAQ:EEFT - Free Report) by 63.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,700 shares of the business services provider's stock after selling 4,664 shares during the period. Federated Hermes Inc.'s holdings in Euronet Worldwide were worth $288,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of EEFT. Principal Financial Group Inc. raised its stake in shares of Euronet Worldwide by 0.3% in the 1st quarter. Principal Financial Group Inc. now owns 95,039 shares of the business services provider's stock valued at $10,155,000 after buying an additional 280 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Euronet Worldwide by 99.9% during the 1st quarter. GAMMA Investing LLC now owns 1,907 shares of the business services provider's stock worth $204,000 after purchasing an additional 953 shares in the last quarter. Asset Management One Co. Ltd. increased its position in shares of Euronet Worldwide by 211.6% during the 1st quarter. Asset Management One Co. Ltd. now owns 1,991 shares of the business services provider's stock worth $213,000 after purchasing an additional 1,352 shares in the last quarter. SG Americas Securities LLC increased its position in shares of Euronet Worldwide by 46.4% during the 1st quarter. SG Americas Securities LLC now owns 4,721 shares of the business services provider's stock worth $504,000 after purchasing an additional 1,496 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Euronet Worldwide during the 1st quarter worth about $1,400,000. 91.60% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Needham & Company LLC dropped their target price on shares of Euronet Worldwide from $130.00 to $120.00 and set a "buy" rating for the company in a research report on Friday, April 25th. Oppenheimer raised their price objective on shares of Euronet Worldwide from $135.00 to $137.00 and gave the company an "outperform" rating in a research report on Wednesday, July 2nd. Keefe, Bruyette & Woods lowered their price objective on shares of Euronet Worldwide from $112.00 to $110.00 and set a "market perform" rating for the company in a research report on Friday, April 25th. Finally, William Blair restated an "outperform" rating on shares of Euronet Worldwide in a research report on Thursday, April 24th. Three investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $123.83.

Euronet Worldwide Trading Up 2.9%

Euronet Worldwide stock traded up $2.76 during midday trading on Wednesday, hitting $97.72. 950,576 shares of the stock were exchanged, compared to its average volume of 435,295. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 0.74. Euronet Worldwide, Inc. has a 52 week low of $85.24 and a 52 week high of $114.25. The company has a fifty day simple moving average of $102.54 and a two-hundred day simple moving average of $102.19. The stock has a market capitalization of $4.01 billion, a PE ratio of 13.40, a P/E/G ratio of 0.74 and a beta of 1.25.

Euronet Worldwide (NASDAQ:EEFT - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The business services provider reported $2.56 earnings per share for the quarter, missing analysts' consensus estimates of $2.66 by ($0.10). Euronet Worldwide had a net margin of 8.06% and a return on equity of 26.62%. The company had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.08 billion. During the same period in the previous year, the firm posted $2.25 EPS. The business's quarterly revenue was up 8.9% compared to the same quarter last year. Equities research analysts anticipate that Euronet Worldwide, Inc. will post 9.11 EPS for the current fiscal year.

About Euronet Worldwide

Euronet Worldwide, Inc provides payment and transaction processing and distribution solutions to financial institutions, retailers, service providers, and individual consumers worldwide. It operates through three segments: Electronic Fund Transfer Processing, epay, and Money Transfer. The Electronic Fund Transfer Processing segment provides electronic payment solutions, including automated teller machine (ATM) cash withdrawal and deposit services, ATM network participation, outsourced ATM and point-of-sale (POS) management solutions, credit and debit and prepaid card outsourcing, card issuing, and merchant acquiring services.