Bank of New York Mellon Corp Cuts Stock Position in Euronet Worldwide, Inc. (NASDAQ:EEFT)

Bank of New York Mellon Corp cut its stake in shares of Euronet Worldwide, Inc. (NASDAQ:EEFT) by 9.2% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 368,465 shares of the business services provider’s stock after selling 37,310 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.85% of Euronet Worldwide worth $39,370,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in EEFT. OneDigital Investment Advisors LLC boosted its holdings in Euronet Worldwide by 9.3% in the first quarter. OneDigital Investment Advisors LLC now owns 5,713 shares of the business services provider’s stock valued at $610,000 after purchasing an additional 487 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in Euronet Worldwide by 0.3% in the first quarter. Principal Financial Group Inc. now owns 95,039 shares of the business services provider’s stock valued at $10,155,000 after purchasing an additional 280 shares in the last quarter. New South Capital Management Inc. boosted its holdings in Euronet Worldwide by 5.9% in the first quarter. New South Capital Management Inc. now owns 647,810 shares of the business services provider’s stock valued at $69,218,000 after purchasing an additional 36,267 shares in the last quarter. Lisanti Capital Growth LLC acquired a new position in Euronet Worldwide in the first quarter valued at approximately $4,332,000. Finally, Illinois Municipal Retirement Fund boosted its holdings in Euronet Worldwide by 49.9% in the first quarter. Illinois Municipal Retirement Fund now owns 20,108 shares of the business services provider’s stock valued at $2,149,000 after purchasing an additional 6,691 shares in the last quarter. 91.60% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on EEFT shares. Oppenheimer increased their price objective on Euronet Worldwide from $135.00 to $137.00 and gave the company an “outperform” rating in a report on Wednesday, July 2nd. Keefe, Bruyette & Woods decreased their price objective on Euronet Worldwide from $112.00 to $110.00 and set a “market perform” rating for the company in a report on Friday, April 25th. Needham & Company LLC decreased their price objective on Euronet Worldwide from $130.00 to $120.00 and set a “buy” rating for the company in a report on Friday, April 25th. Finally, William Blair reissued an “outperform” rating on shares of Euronet Worldwide in a report on Thursday, April 24th. Three equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Euronet Worldwide currently has an average rating of “Moderate Buy” and a consensus target price of $126.86.

Euronet Worldwide Price Performance

Euronet Worldwide stock opened at $102.73 on Tuesday. Euronet Worldwide, Inc. has a 12 month low of $85.24 and a 12 month high of $114.25. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.60 and a quick ratio of 1.60. The business has a 50 day simple moving average of $106.72 and a 200-day simple moving average of $102.43. The stock has a market capitalization of $4.44 billion, a PE ratio of 15.22, a price-to-earnings-growth ratio of 0.76 and a beta of 1.23.

Euronet Worldwide (NASDAQ:EEFT) last released its quarterly earnings results on Wednesday, April 23rd. The business services provider reported $1.13 EPS for the quarter, hitting the consensus estimate of $1.13. The business had revenue of $915.50 million during the quarter, compared to analysts’ expectations of $908.93 million. Euronet Worldwide had a return on equity of 26.97% and a net margin of 7.88%. The company’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.28 earnings per share. Equities analysts predict that Euronet Worldwide, Inc. will post 9.11 earnings per share for the current year.

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.