Euronet Worldwide, Inc. (NASDAQ:EEFT) Shares Sold by Mawer Investment Management Ltd.

Key Points

• Mawer Investment Management Ltd. reduced its stake in Euronet Worldwide by 52.7%, owning 83,366 shares after selling 93,018 during the first quarter.
• Other institutional investors like UMB Bank and Covestor Ltd. increased their positions, with UMB Bank boosting its stake by 92.3%.
• Wall Street analysts maintain a generally positive outlook on Euronet Worldwide, with a consensus target price of $123.83 and multiple buy ratings issued.

Mawer Investment Management Ltd. lowered its position in Euronet Worldwide, Inc. (NASDAQ:EEFT - Free Report) by 52.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 83,366 shares of the business services provider's stock after selling 93,018 shares during the quarter. Mawer Investment Management Ltd. owned about 0.19% of Euronet Worldwide worth $8,908,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. Janus Henderson Group PLC grew its holdings in shares of Euronet Worldwide by 1.5% in the fourth quarter. Janus Henderson Group PLC now owns 1,386,382 shares of the business services provider's stock valued at $142,575,000 after purchasing an additional 20,805 shares during the period. Burgundy Asset Management Ltd. boosted its stake in Euronet Worldwide by 21.0% during the fourth quarter. Burgundy Asset Management Ltd. now owns 1,096,300 shares of the business services provider's stock worth $112,743,000 after buying an additional 190,453 shares during the period. Dimensional Fund Advisors LP boosted its stake in Euronet Worldwide by 3.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 821,777 shares of the business services provider's stock worth $84,512,000 after buying an additional 24,569 shares during the period. Reinhart Partners LLC. boosted its stake in Euronet Worldwide by 17.7% during the first quarter. Reinhart Partners LLC. now owns 738,383 shares of the business services provider's stock worth $78,896,000 after buying an additional 111,234 shares during the period. Finally, Wasatch Advisors LP boosted its stake in Euronet Worldwide by 1.0% during the fourth quarter. Wasatch Advisors LP now owns 723,785 shares of the business services provider's stock worth $74,434,000 after buying an additional 7,246 shares during the period. Hedge funds and other institutional investors own 91.60% of the company's stock.

Euronet Worldwide Stock Down 2.9%

NASDAQ:EEFT traded down $2.83 during mid-day trading on Friday, hitting $94.36. The stock had a trading volume of 358,909 shares, compared to its average volume of 431,465. The stock has a 50-day simple moving average of $104.85 and a two-hundred day simple moving average of $102.48. The company has a market capitalization of $4.08 billion, a PE ratio of 13.99, a PEG ratio of 0.73 and a beta of 1.23. Euronet Worldwide, Inc. has a twelve month low of $85.24 and a twelve month high of $114.25. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 1.46.

Euronet Worldwide (NASDAQ:EEFT - Get Free Report) last issued its earnings results on Thursday, July 31st. The business services provider reported $2.56 earnings per share for the quarter, missing the consensus estimate of $2.66 by ($0.10). The firm had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.08 billion. Euronet Worldwide had a net margin of 7.88% and a return on equity of 26.97%. The firm's revenue was up 8.9% compared to the same quarter last year. During the same period last year, the business earned $2.25 EPS. On average, equities research analysts anticipate that Euronet Worldwide, Inc. will post 9.11 EPS for the current year.

Wall Street Analysts Forecast Growth

EEFT has been the subject of several research analyst reports. William Blair reaffirmed an "outperform" rating on shares of Euronet Worldwide in a research note on Thursday, April 24th. Keefe, Bruyette & Woods reduced their price target on shares of Euronet Worldwide from $112.00 to $110.00 and set a "market perform" rating on the stock in a research report on Friday, April 25th. Needham & Company LLC reduced their price target on shares of Euronet Worldwide from $130.00 to $120.00 and set a "buy" rating on the stock in a research report on Friday, April 25th. Finally, Oppenheimer increased their price target on shares of Euronet Worldwide from $135.00 to $137.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 2nd. Three equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $123.83.

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.