Commerce Bank Makes New Investment in Euronet Worldwide, Inc. $EEFT

Commerce Bank purchased a new position in shares of Euronet Worldwide, Inc. (NASDAQ:EEFT) in the second quarter, according to its most recent disclosure with the SEC. The firm purchased 15,785 shares of the business services provider’s stock, valued at approximately $1,155,000.

Other institutional investors have also made changes to their positions in the company. Goldman Sachs Group Inc. lifted its stake in Euronet Worldwide by 17.0% in the first quarter. Goldman Sachs Group Inc. now owns 628,384 shares of the business services provider’s stock valued at $67,143,000 after acquiring an additional 91,348 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Euronet Worldwide by 4.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 121,475 shares of the business services provider’s stock worth $12,980,000 after buying an additional 5,009 shares during the last quarter. Focus Partners Wealth bought a new stake in shares of Euronet Worldwide during the 1st quarter worth about $202,000. Geneos Wealth Management Inc. increased its holdings 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 last quarter. Finally, EverSource Wealth Advisors LLC increased its holdings in shares of Euronet Worldwide by 422.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,631 shares of the business services provider’s stock valued at $165,000 after acquiring an additional 1,319 shares during the last quarter. 91.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on EEFT. Needham & Company LLC boosted their target price on Euronet Worldwide from $85.00 to $90.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. DA Davidson reissued a “buy” rating and issued a $102.00 price target on shares of Euronet Worldwide in a research report on Friday, July 10th. Wolfe Research reduced their price objective on shares of Euronet Worldwide from $75.00 to $70.00 and set an “underperform” rating for the company in a research note on Tuesday. Finally, Weiss Ratings downgraded shares of Euronet Worldwide from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday, August 11th. Three analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Euronet Worldwide currently has a consensus rating of “Hold” and an average target price of $94.00.

Euronet Worldwide Price Performance

NASDAQ EEFT opened at $71.21 on Wednesday. The stock has a 50-day simple moving average of $73.94 and a 200 day simple moving average of $71.40. Euronet Worldwide, Inc. has a twelve month low of $62.50 and a twelve month high of $96.93. The stock has a market capitalization of $2.71 billion, a PE ratio of 11.18, a P/E/G ratio of 0.57 and a beta of 0.82. The company has a debt-to-equity ratio of 1.47, a quick ratio of 1.37 and a current ratio of 1.37.

Euronet Worldwide (NASDAQ:EEFT) last released its earnings results on Thursday, July 30th. The business services provider reported $2.82 earnings per share (EPS) 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 company’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same period last year, the business posted $2.56 earnings per share. Research analysts anticipate that Euronet Worldwide, Inc. will post 9.55 EPS for the current year.

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.