Cetera Investment Advisers Reduces Stock Holdings in Euronet Worldwide, Inc. (NASDAQ:EEFT)

Cetera Investment Advisers reduced its holdings in Euronet Worldwide, Inc. (NASDAQ:EEFT) by 93.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,696 shares of the business services provider’s stock after selling 77,925 shares during the period. Cetera Investment Advisers’ holdings in Euronet Worldwide were worth $586,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the company. Janney Montgomery Scott LLC grew its position in shares of Euronet Worldwide by 28.1% in the fourth quarter. Janney Montgomery Scott LLC now owns 12,014 shares of the business services provider’s stock valued at $1,236,000 after purchasing an additional 2,632 shares during the period. HighTower Advisors LLC increased its position in Euronet Worldwide by 0.8% during the fourth quarter. HighTower Advisors LLC now owns 25,883 shares of the business services provider’s stock worth $2,662,000 after purchasing an additional 209 shares during the last quarter. Dimensional Fund Advisors LP increased its position 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 purchasing an additional 24,569 shares during the last quarter. Proficio Capital Partners LLC purchased a new position in Euronet Worldwide during the fourth quarter worth about $28,000. Finally, Connors Investor Services Inc. purchased a new position in Euronet Worldwide during the fourth quarter worth about $206,000. 91.60% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Euronet Worldwide

In related news, CEO Michael J. Brown sold 95,000 shares of the business’s stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $100.69, for a total value of $9,565,550.00. Following the completion of the transaction, the chief executive officer now owns 1,418,966 shares of the company’s stock, valued at approximately $142,875,686.54. The trade was a 6.27% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 11.20% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

EEFT has been the subject of several research analyst reports. Stephens reaffirmed an “overweight” rating and set a $130.00 target price on shares of Euronet Worldwide in a research note on Friday, February 14th. Wall Street Zen cut shares of Euronet Worldwide from a “buy” rating to a “hold” rating in a report on Saturday, February 22nd. Keefe, Bruyette & Woods cut their price objective on shares of Euronet Worldwide from $112.00 to $110.00 and set a “market perform” rating on the stock in a report on Friday, April 25th. William Blair reissued an “outperform” rating on shares of Euronet Worldwide in a report on Thursday, April 24th. Finally, Needham & Company LLC cut their target price on shares of Euronet Worldwide from $130.00 to $120.00 and set a “buy” rating on the stock in a report on Friday, April 25th. Three investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Euronet Worldwide has an average rating of “Moderate Buy” and an average price target of $125.57.

Euronet Worldwide Stock Performance

NASDAQ:EEFT opened at $105.13 on Tuesday. The firm has a market cap of $4.55 billion, a price-to-earnings ratio of 16.25, a price-to-earnings-growth ratio of 0.78 and a beta of 1.25. Euronet Worldwide, Inc. has a 1-year low of $85.24 and a 1-year high of $117.66. The firm’s fifty day moving average price is $102.14 and its 200 day moving average price is $101.99. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.25 and a quick ratio of 1.26.

Euronet Worldwide (NASDAQ:EEFT) last released its quarterly earnings data on Wednesday, April 23rd. The business services provider reported $1.13 EPS for the quarter, hitting the consensus estimate of $1.13. Euronet Worldwide had a net margin of 7.69% and a return on equity of 27.74%. The business had revenue of $915.50 million for the quarter, compared to analyst estimates of $908.93 million. During the same period in the previous year, the firm earned $1.28 EPS. The business’s revenue for the quarter was up 6.8% compared to the same quarter last year. On average, sell-side analysts expect that Euronet Worldwide, Inc. will post 9.11 EPS for the current year.

Euronet Worldwide 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.