New York State Teachers Retirement System Lowers Position in Euronet Worldwide, Inc. (NASDAQ:EEFT)

New York State Teachers Retirement System cut its holdings in Euronet Worldwide, Inc. (NASDAQ:EEFT) by 1.3% in the fourth quarter, Holdings Channel reports. The fund owned 20,103 shares of the business services provider’s stock after selling 273 shares during the quarter. New York State Teachers Retirement System’s holdings in Euronet Worldwide were worth $2,040,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in EEFT. Allspring Global Investments Holdings LLC lifted its stake in Euronet Worldwide by 17.3% in the third quarter. Allspring Global Investments Holdings LLC now owns 3,710,006 shares of the business services provider’s stock worth $294,500,000 after acquiring an additional 548,457 shares during the period. Norges Bank purchased a new stake in Euronet Worldwide in the fourth quarter worth about $45,866,000. Burgundy Asset Management Ltd. purchased a new stake in Euronet Worldwide in the third quarter worth about $35,309,000. Wasatch Advisors Inc. lifted its stake in Euronet Worldwide by 18.5% in the first quarter. Wasatch Advisors Inc. now owns 2,764,637 shares of the business services provider’s stock worth $359,818,000 after acquiring an additional 431,262 shares during the period. Finally, Van Berkom & Associates Inc. lifted its stake in Euronet Worldwide by 48.6% in the third quarter. Van Berkom & Associates Inc. now owns 1,069,693 shares of the business services provider’s stock worth $84,912,000 after acquiring an additional 349,720 shares during the period. 91.60% of the stock is owned by hedge funds and other institutional investors.

Euronet Worldwide Stock Performance

EEFT opened at $101.61 on Wednesday. Euronet Worldwide, Inc. has a 52-week low of $73.84 and a 52-week high of $121.55. The company has a quick ratio of 1.54, a current ratio of 1.54 and a debt-to-equity ratio of 1.37. The company has a market cap of $4.66 billion, a P/E ratio of 18.41 and a beta of 1.39. The firm’s 50-day moving average price is $107.92 and its 200-day moving average price is $96.18.

Euronet Worldwide (NASDAQ:EEFT) last posted its quarterly earnings data on Wednesday, February 7th. The business services provider reported $1.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.54 by $0.34. Euronet Worldwide had a net margin of 7.63% and a return on equity of 25.23%. The firm had revenue of $957.70 million for the quarter, compared to the consensus estimate of $844.59 million. During the same quarter in the prior year, the company posted $1.12 earnings per share. The company’s revenue for the quarter was up 10.6% compared to the same quarter last year. As a group, equities analysts anticipate that Euronet Worldwide, Inc. will post 7.51 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on EEFT. DA Davidson reaffirmed a “buy” rating and issued a $126.00 price objective on shares of Euronet Worldwide in a research note on Monday. Stephens upgraded shares of Euronet Worldwide from an “equal weight” rating to an “overweight” rating and set a $120.00 target price for the company in a report on Thursday, February 1st. Evercore ISI boosted their target price on shares of Euronet Worldwide from $118.00 to $135.00 and gave the stock an “outperform” rating in a report on Tuesday, March 26th. StockNews.com upgraded shares of Euronet Worldwide from a “hold” rating to a “buy” rating in a report on Thursday, February 15th. Finally, Needham & Company LLC boosted their target price on shares of Euronet Worldwide from $115.00 to $120.00 and gave the stock a “buy” rating in a report on Wednesday, February 7th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $117.38.

Euronet Worldwide Company Profile

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.