Comerica Bank Reduces Stock Holdings in Euronet Worldwide, Inc. (NASDAQ:EEFT)

Comerica Bank reduced its holdings in shares of Euronet Worldwide, Inc. (NASDAQ:EEFT) by 8.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,587 shares of the business services provider’s stock after selling 1,740 shares during the period. Comerica Bank’s holdings in Euronet Worldwide were worth $1,911,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Xponance Inc. raised its position in shares of Euronet Worldwide by 3.6% in the 4th quarter. Xponance Inc. now owns 4,790 shares of the business services provider’s stock valued at $493,000 after purchasing an additional 166 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Euronet Worldwide by 2.3% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,469 shares of the business services provider’s stock worth $768,000 after buying an additional 169 shares during the last quarter. Peapack Gladstone Financial Corp lifted its stake in shares of Euronet Worldwide by 8.8% during the fourth quarter. Peapack Gladstone Financial Corp now owns 2,228 shares of the business services provider’s stock worth $229,000 after buying an additional 181 shares during the period. New York State Teachers Retirement System increased its position in shares of Euronet Worldwide by 0.8% in the 4th quarter. New York State Teachers Retirement System now owns 23,277 shares of the business services provider’s stock valued at $2,394,000 after acquiring an additional 196 shares during the period. Finally, Blue Trust Inc. raised its stake in Euronet Worldwide by 26.1% in the 4th quarter. Blue Trust Inc. now owns 989 shares of the business services provider’s stock worth $98,000 after acquiring an additional 205 shares during the last quarter. 91.60% of the stock is currently owned by hedge funds and other institutional investors.

Euronet Worldwide Price Performance

NASDAQ:EEFT opened at $108.30 on Friday. The company has a quick ratio of 1.26, a current ratio of 1.25 and a debt-to-equity ratio of 0.92. The stock has a market capitalization of $4.68 billion, a PE ratio of 16.74, a price-to-earnings-growth ratio of 0.78 and a beta of 1.25. The stock’s 50-day moving average price is $100.62 and its 200-day moving average price is $101.34. Euronet Worldwide, Inc. has a 52 week low of $85.24 and a 52 week high of $117.66.

Euronet Worldwide (NASDAQ:EEFT) last released its quarterly earnings results on Wednesday, April 23rd. The business services provider reported $1.13 earnings per share 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 firm had revenue of $915.50 million during the quarter, compared to the consensus estimate of $908.93 million. During the same quarter in the prior year, the firm earned $1.28 EPS. The company’s revenue for the quarter was up 6.8% on a year-over-year basis. As a group, equities analysts expect that Euronet Worldwide, Inc. will post 9.11 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Needham & Company LLC reduced their price objective on Euronet Worldwide from $130.00 to $120.00 and set a “buy” rating for the company in a research note on Friday, April 25th. StockNews.com cut shares of Euronet Worldwide from a “buy” rating to a “hold” rating in a research note on Saturday, February 22nd. Keefe, Bruyette & Woods reduced their target price on shares of Euronet Worldwide from $112.00 to $110.00 and set a “market perform” rating for the company in a report on Friday, April 25th. Stephens reaffirmed an “overweight” rating and issued a $130.00 price target on shares of Euronet Worldwide in a report on Friday, February 14th. Finally, William Blair reiterated an “outperform” rating on shares of Euronet Worldwide in a research note on Thursday, April 24th. Four analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $125.57.

Insider Activity

In other Euronet Worldwide news, CEO Michael J. Brown sold 95,000 shares of the firm’s stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 1,418,966 shares of the company’s stock, valued at $142,875,686.54. This trade represents a 6.27 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 11.20% of the company’s stock.

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.