Van Berkom & Associates Inc. Trims Stock Holdings in Euronet Worldwide, Inc. (NASDAQ:EEFT)

Van Berkom & Associates Inc. reduced its holdings in shares of Euronet Worldwide, Inc. (NASDAQ:EEFT) by 4.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 755,658 shares of the business services provider’s stock after selling 37,475 shares during the period. Euronet Worldwide comprises approximately 3.7% of Van Berkom & Associates Inc.’s portfolio, making the stock its 3rd biggest holding. Van Berkom & Associates Inc. owned about 1.39% of Euronet Worldwide worth $127,132,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Invesco Ltd. lifted its stake in Euronet Worldwide by 211.1% in the second quarter. Invesco Ltd. now owns 936,781 shares of the business services provider’s stock worth $157,603,000 after acquiring an additional 635,710 shares during the period. Nuveen Asset Management LLC purchased a new position in Euronet Worldwide during the second quarter valued at $84,681,000. Vanguard Group Inc. lifted its position in Euronet Worldwide by 4.9% during the second quarter. Vanguard Group Inc. now owns 4,799,013 shares of the business services provider’s stock valued at $807,386,000 after buying an additional 223,005 shares during the period. BlackRock Inc. lifted its position in Euronet Worldwide by 6.1% during the second quarter. BlackRock Inc. now owns 2,376,979 shares of the business services provider’s stock valued at $399,903,000 after buying an additional 135,698 shares during the period. Finally, Canada Pension Plan Investment Board lifted its position in Euronet Worldwide by 1,132.6% during the second quarter. Canada Pension Plan Investment Board now owns 114,632 shares of the business services provider’s stock valued at $19,286,000 after buying an additional 105,332 shares during the period. Institutional investors and hedge funds own 92.00% of the company’s stock.

EEFT has been the subject of several recent research reports. BidaskClub lowered Euronet Worldwide from a “sell” rating to a “strong sell” rating in a research report on Tuesday. Wolfe Research initiated coverage on Euronet Worldwide in a research report on Wednesday, July 31st. They set an “outperform” rating and a $200.00 price objective for the company. DA Davidson lowered Euronet Worldwide from a “buy” rating to a “neutral” rating and set a $161.20 price objective for the company. in a research report on Thursday, June 13th. They noted that the move was a valuation call. Citigroup raised their price objective on Euronet Worldwide from $168.00 to $189.00 and gave the company a “buy” rating in a research report on Monday, September 9th. Finally, ValuEngine lowered Euronet Worldwide from a “buy” rating to a “hold” rating in a research report on Friday, September 6th. One analyst has rated the stock with a sell rating, two have given a hold rating and eight have issued a buy rating to the company. Euronet Worldwide presently has an average rating of “Buy” and an average price target of $165.40.

In other Euronet Worldwide news, CEO Juan Bianchi sold 20,994 shares of the business’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $152.51, for a total transaction of $3,201,794.94. Following the completion of the sale, the chief executive officer now directly owns 20,994 shares in the company, valued at approximately $3,201,794.94. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 6.40% of the company’s stock.

Shares of NASDAQ:EEFT traded down $0.01 on Wednesday, hitting $146.00. 14,745 shares of the company traded hands, compared to its average volume of 386,844. Euronet Worldwide, Inc. has a 52 week low of $91.78 and a 52 week high of $171.25. The stock has a 50 day simple moving average of $151.38 and a 200-day simple moving average of $152.00. The company has a market cap of $7.96 billion, a PE ratio of 27.51, a PEG ratio of 1.62 and a beta of 1.16. The company has a quick ratio of 1.82, a current ratio of 1.82 and a debt-to-equity ratio of 0.96.

Euronet Worldwide (NASDAQ:EEFT) last released its quarterly earnings data on Tuesday, July 23rd. The business services provider reported $1.59 EPS for the quarter, missing the consensus estimate of $1.63 by ($0.04). Euronet Worldwide had a return on equity of 24.94% and a net margin of 10.08%. The business had revenue of $691.90 million during the quarter, compared to the consensus estimate of $691.90 million. As a group, sell-side analysts anticipate that Euronet Worldwide, Inc. will post 6.67 earnings per share for the current year.

About Euronet Worldwide

Euronet Worldwide, Inc provides payment and transaction processing and distribution solutions to financial institutions, retailers, service providers, and individual consumers worldwide. The company's Electronic Financial Transaction (EFT) 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 card outsourcing, card issuing, and merchant acquiring services.

Further Reading: What does a hold rating mean?

Institutional Ownership by Quarter for Euronet Worldwide (NASDAQ:EEFT)

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