Federated Hermes Inc. Lowers Holdings in Euronet Worldwide, Inc. (NASDAQ:EEFT)

Federated Hermes Inc. reduced its stake in Euronet Worldwide, Inc. (NASDAQ:EEFT) by 17.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,450 shares of the business services provider’s stock after selling 1,113 shares during the period. Federated Hermes Inc.’s holdings in Euronet Worldwide were worth $553,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Allspring Global Investments Holdings LLC increased its position in shares of Euronet Worldwide by 17.3% during the third quarter. Allspring Global Investments Holdings LLC now owns 3,710,006 shares of the business services provider’s stock valued at $294,500,000 after acquiring an additional 548,457 shares in the last quarter. Burgundy Asset Management Ltd. purchased a new stake in Euronet Worldwide during the 3rd quarter valued at $35,309,000. Van Berkom & Associates Inc. increased its holdings in shares of Euronet Worldwide by 48.6% in the 3rd quarter. Van Berkom & Associates Inc. now owns 1,069,693 shares of the business services provider’s stock worth $84,912,000 after purchasing an additional 349,720 shares in the last quarter. Voss Capital LLC raised its stake in shares of Euronet Worldwide by 52.8% in the fourth quarter. Voss Capital LLC now owns 565,256 shares of the business services provider’s stock worth $57,368,000 after purchasing an additional 195,404 shares during the last quarter. Finally, Qube Research & Technologies Ltd bought a new position in shares of Euronet Worldwide during the third quarter valued at $11,744,000. 91.60% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on EEFT shares. Stephens upgraded Euronet Worldwide from an “equal weight” rating to an “overweight” rating and set a $120.00 price objective for the company in a report on Thursday, February 1st. Evercore ISI boosted their price objective on shares of Euronet Worldwide from $118.00 to $135.00 and gave the company an “outperform” rating in a report on Tuesday, March 26th. DA Davidson raised their target price on shares of Euronet Worldwide from $126.00 to $136.00 and gave the stock a “buy” rating in a report on Friday. StockNews.com upgraded shares of Euronet Worldwide from a “hold” rating to a “buy” rating in a research note on Thursday, February 15th. Finally, Citigroup upgraded Euronet Worldwide from a “neutral” rating to a “buy” rating and raised their price target for the stock from $116.00 to $120.00 in a research note on Monday, April 22nd. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, Euronet Worldwide currently has an average rating of “Moderate Buy” and a consensus price target of $121.89.

Euronet Worldwide Stock Performance

NASDAQ EEFT opened at $110.24 on Friday. The company has a quick ratio of 1.54, a current ratio of 1.33 and a debt-to-equity ratio of 1.01. Euronet Worldwide, Inc. has a twelve month low of $73.84 and a twelve month high of $121.55. The business has a 50-day moving average price of $107.34 and a 200-day moving average price of $98.44. The firm has a market cap of $5.06 billion, a price-to-earnings ratio of 19.41 and a beta of 1.39.

Euronet Worldwide (NASDAQ:EEFT) last announced its quarterly earnings results on Wednesday, February 7th. The business services provider reported $1.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.54 by $0.34. Euronet Worldwide had a net margin of 7.63% and a return on equity of 26.71%. The company had revenue of $957.70 million for the quarter, compared to the consensus estimate of $844.59 million. During the same period in the previous year, the firm posted $1.12 EPS. Euronet Worldwide’s revenue for the quarter was up 10.6% compared to the same quarter last year. As a group, equities research analysts predict that Euronet Worldwide, Inc. will post 7.51 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.