Royal Bank of Canada Sells 246,006 Shares of Euronet Worldwide, Inc. $EEFT

Royal Bank of Canada lowered its holdings in shares of Euronet Worldwide, Inc. (NASDAQ:EEFT) by 33.8% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 482,151 shares of the business services provider’s stock after selling 246,006 shares during the quarter. Royal Bank of Canada’s holdings in Euronet Worldwide were worth $32,000,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Johnson Financial Group Inc. bought a new stake in Euronet Worldwide during the third quarter valued at approximately $26,000. Danske Bank A S bought a new stake in shares of Euronet Worldwide during the 3rd quarter valued at $26,000. Geneos Wealth Management Inc. grew its position in shares of Euronet Worldwide by 48.4% during the 1st quarter. Geneos Wealth Management Inc. now owns 334 shares of the business services provider’s stock valued at $36,000 after acquiring an additional 109 shares during the period. Kestra Advisory Services LLC purchased a new stake in shares of Euronet Worldwide in the 4th quarter worth $38,000. Finally, 1620 Investment Advisors Inc. raised its holdings in Euronet Worldwide by 123.1% in the 4th quarter. 1620 Investment Advisors Inc. now owns 589 shares of the business services provider’s stock worth $45,000 after purchasing an additional 325 shares during the period. Hedge funds and other institutional investors own 91.60% of the company’s stock.

Euronet Worldwide Stock Performance

NASDAQ:EEFT opened at $73.47 on Tuesday. The company has a market cap of $2.80 billion, a price-to-earnings ratio of 11.53, a PEG ratio of 0.56 and a beta of 0.82. Euronet Worldwide, Inc. has a 1 year low of $62.50 and a 1 year high of $98.52. The stock’s 50 day simple moving average is $72.94 and its two-hundred day simple moving average is $71.56. The company has a debt-to-equity ratio of 1.47, a current ratio of 1.37 and a quick ratio of 1.28.

Euronet Worldwide (NASDAQ:EEFT) last posted 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). Euronet Worldwide had a net margin of 6.63% and a return on equity of 28.60%. The business had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.14 billion. During the same period last year, the business posted $2.56 earnings per share. The company’s revenue for the quarter was up 3.2% compared to the same quarter last year. As a group, equities analysts anticipate that Euronet Worldwide, Inc. will post 9.83 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Euronet Worldwide news, Director Thomas A. Mcdonnell acquired 3,000 shares of the company’s stock in a transaction on Tuesday, May 26th. The stock was acquired at an average cost of $66.87 per share, with a total value of $200,610.00. Following the purchase, the director directly owned 100,219 shares of the company’s stock, valued at approximately $6,701,644.53. This represents a 3.09% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. 12.19% of the stock is owned by company insiders.

Analysts Set New Price Targets

EEFT has been the topic of several analyst reports. Weiss Ratings raised shares of Euronet Worldwide from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, July 28th. DA Davidson reissued a “buy” rating and issued a $102.00 price objective on shares of Euronet Worldwide in a research note on Friday, July 10th. Finally, Needham & Company LLC raised their price objective 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 research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $96.00.

About Euronet Worldwide

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.