Keefe, Bruyette & Woods Cuts Euronet Worldwide (NASDAQ:EEFT) Price Target to $110.00

Euronet Worldwide (NASDAQ:EEFT) had its price target reduced by Keefe, Bruyette & Woods from $112.00 to $110.00 in a research note released on Friday,Benzinga reports. They currently have a market perform rating on the business services provider’s stock.

Several other brokerages also recently weighed in on EEFT. William Blair restated an “outperform” rating on shares of Euronet Worldwide in a research report on Thursday. Stephens reiterated an “overweight” rating and set a $130.00 price target on shares of Euronet Worldwide in a research note on Friday, February 14th. Needham & Company LLC decreased their price objective on shares of Euronet Worldwide from $130.00 to $120.00 and set a “buy” rating for the company in a research note on Friday. Finally, StockNews.com lowered Euronet Worldwide from a “buy” rating to a “hold” rating in a report on Saturday, February 22nd. Four equities research 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’s stock. According to data from MarketBeat.com, Euronet Worldwide currently has an average rating of “Moderate Buy” and an average target price of $125.57.

Euronet Worldwide Price Performance

Shares of EEFT opened at $96.79 on Friday. The firm has a market capitalization of $4.18 billion, a price-to-earnings ratio of 14.96, a PEG ratio of 0.78 and a beta of 1.18. The firm’s fifty day simple moving average is $100.41 and its 200-day simple moving average is $101.07. Euronet Worldwide has a twelve month low of $85.24 and a twelve month high of $117.66. The company has a current ratio of 1.25, a quick ratio of 1.26 and a debt-to-equity ratio of 0.92.

Euronet Worldwide (NASDAQ:EEFT) last posted its quarterly earnings results on Wednesday, February 12th. The business services provider reported $1.82 earnings per share for the quarter, missing analysts’ consensus estimates of $2.05 by ($0.23). Euronet Worldwide had a net margin of 7.69% and a return on equity of 27.74%. Equities analysts forecast that Euronet Worldwide will post 9.11 EPS for the current fiscal year.

Insider Activity

In other news, CEO Michael J. Brown sold 95,000 shares of the company’s stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $100.69, for a total transaction of $9,565,550.00. Following the completion of the sale, the chief executive officer now owns 1,418,966 shares in the company, valued at $142,875,686.54. This represents a 6.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 11.20% of the company’s stock.

Hedge Funds Weigh In On Euronet Worldwide

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. UMB Bank n.a. boosted its holdings in shares of Euronet Worldwide by 92.3% in the first quarter. UMB Bank n.a. now owns 450 shares of the business services provider’s stock valued at $48,000 after acquiring an additional 216 shares in the last quarter. R Squared Ltd acquired a new stake in Euronet Worldwide in the fourth quarter valued at about $58,000. Covestor Ltd boosted its holdings in Euronet Worldwide by 40.9% in the 4th quarter. Covestor Ltd now owns 713 shares of the business services provider’s stock valued at $73,000 after purchasing an additional 207 shares in the last quarter. Aster Capital Management DIFC Ltd increased its position in Euronet Worldwide by 15,240.0% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 767 shares of the business services provider’s stock worth $79,000 after purchasing an additional 762 shares during the period. Finally, Jones Financial Companies Lllp raised its stake in shares of Euronet Worldwide by 485.6% during the 4th quarter. Jones Financial Companies Lllp now owns 855 shares of the business services provider’s stock worth $88,000 after buying an additional 709 shares in the last quarter. 91.60% of the stock is currently owned by hedge funds and other institutional investors.

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.