Royal Bank of Canada Lowers Stock Holdings in Euronet Worldwide, Inc. $EEFT

Royal Bank of Canada reduced its stake in Euronet Worldwide, Inc. (NASDAQ:EEFT) by 33.8% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 482,151 shares of the business services provider’s stock after selling 246,006 shares during the quarter. Royal Bank of Canada owned about 1.27% of Euronet Worldwide worth $32,000,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in EEFT. Bank of Montreal Can grew its stake in shares of Euronet Worldwide by 933.8% in the fourth quarter. Bank of Montreal Can now owns 1,993,682 shares of the business services provider’s stock worth $151,739,000 after acquiring an additional 1,800,837 shares during the last quarter. AQR Capital Management LLC raised its position in shares of Euronet Worldwide by 131.9% in the 2nd quarter. AQR Capital Management LLC now owns 1,308,267 shares of the business services provider’s stock worth $132,632,000 after purchasing an additional 744,040 shares during the last quarter. Brown Advisory Inc. bought a new position in Euronet Worldwide in the 4th quarter worth about $37,523,000. Norges Bank bought a new position in Euronet Worldwide in the 4th quarter worth about $34,345,000. Finally, Reinhart Partners LLC. grew its position in Euronet Worldwide by 24.9% during the 4th quarter. Reinhart Partners LLC. now owns 1,348,340 shares of the business services provider’s stock valued at $102,623,000 after purchasing an additional 268,542 shares during the last quarter. Institutional investors own 91.60% of the company’s stock.

Analysts Set New Price Targets

EEFT has been the subject of a number of analyst reports. DA Davidson restated a “buy” rating and set a $102.00 price objective on shares of Euronet Worldwide in a research note on Friday, July 10th. Weiss Ratings upgraded shares of Euronet Worldwide from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, July 28th. Finally, Needham & Company LLC raised their price target on shares of Euronet Worldwide from $85.00 to $90.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. Three analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Euronet Worldwide currently has an average rating of “Hold” and an average target price of $96.00.

Euronet Worldwide Price Performance

NASDAQ EEFT opened at $73.47 on Tuesday. Euronet Worldwide, Inc. has a one year low of $62.50 and a one year high of $98.52. The stock has a 50-day moving average of $72.94 and a 200 day moving average of $71.56. The company has a market capitalization of $2.80 billion, a price-to-earnings ratio of 11.53, a PEG ratio of 0.56 and a beta of 0.82. The company has a debt-to-equity ratio of 1.47, a quick ratio of 1.28 and a current ratio of 1.37.

Euronet Worldwide (NASDAQ:EEFT) last issued its earnings results on Thursday, July 30th. The business services provider reported $2.82 earnings per share for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.11). The business had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.14 billion. Euronet Worldwide had a return on equity of 28.60% and a net margin of 6.63%.Euronet Worldwide’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same period last year, the firm posted $2.56 EPS. On average, sell-side analysts forecast that Euronet Worldwide, Inc. will post 9.83 EPS for the current year.

Insider Buying and Selling at Euronet Worldwide

In related news, Director Thomas A. Mcdonnell acquired 3,000 shares of the firm’s stock in a transaction dated Tuesday, May 26th. The stock was purchased at an average cost of $66.87 per share, with a total value of $200,610.00. Following the completion of the acquisition, the director directly owned 100,219 shares of the company’s stock, valued at approximately $6,701,644.53. This trade represents a 3.09% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 12.19% of the stock is owned by insiders.

Euronet Worldwide Company Profile

Euronet Worldwide, Inc is a global financial technology company specializing in electronic payment services and transaction processing. Through its three primary business segments—Electronic Funds Transfer (EFT) Network Services, epay® Prepaid and Payment Services, and Money Transfer—Euronet provides end-to-end solutions that enable secure, efficient and convenient payments for consumers, financial institutions and retailers worldwide.

In its EFT Network Services arm, Euronet operates one of the world’s largest ATM and point-of-sale (POS) terminal networks, offering deployment, management and connectivity services.