First Republic Investment Management Inc. Invests $223,000 in Euronet Worldwide, Inc. (EEFT) Stock
First Republic Investment Management Inc. acquired a new stake in Euronet Worldwide, Inc. (NASDAQ:EEFT) during the 1st quarter, HoldingsChannel reports. The fund acquired 1,564 shares of the business services provider’s stock, valued at approximately $223,000.
A number of other hedge funds have also added to or reduced their stakes in EEFT. Norges Bank bought a new position in Euronet Worldwide in the 4th quarter valued at approximately $43,343,000. Columbus Circle Investors lifted its position in Euronet Worldwide by 194.1% in the 1st quarter. Columbus Circle Investors now owns 283,292 shares of the business services provider’s stock valued at $40,395,000 after acquiring an additional 186,971 shares in the last quarter. Robeco Institutional Asset Management B.V. bought a new position in Euronet Worldwide in the 4th quarter valued at approximately $18,940,000. Smith Asset Management Group LP lifted its position in Euronet Worldwide by 57,472.5% in the 4th quarter. Smith Asset Management Group LP now owns 171,566 shares of the business services provider’s stock valued at $17,565,000 after acquiring an additional 171,268 shares in the last quarter. Finally, Millennium Management LLC lifted its position in Euronet Worldwide by 1,511.8% in the 4th quarter. Millennium Management LLC now owns 158,922 shares of the business services provider’s stock valued at $16,270,000 after acquiring an additional 149,062 shares in the last quarter.
Several equities analysts recently issued reports on EEFT shares. Piper Jaffray Companies upped their price objective on Euronet Worldwide to $159.00 in a research report on Tuesday, March 5th. DA Davidson upped their price objective on Euronet Worldwide to $165.00 and gave the company an “average” rating in a research report on Friday, April 5th. They noted that the move was a valuation call. Zacks Investment Research upgraded shares of Euronet Worldwide from a “hold” rating to a “buy” rating and set a $145.00 target price for the company in a research note on Thursday, February 14th. SunTrust Banks boosted their target price on shares of Euronet Worldwide to $145.00 and gave the company a “buy” rating in a research note on Monday, February 11th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $160.00 target price (up from $135.00) on shares of Euronet Worldwide in a research note on Monday, February 11th. Two analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $145.88.
Euronet Worldwide (NASDAQ:EEFT) last announced its earnings results on Monday, April 29th. The business services provider reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $0.02. The business had revenue of $577.50 million during the quarter, compared to analyst estimates of $602.73 million. Euronet Worldwide had a net margin of 9.40% and a return on equity of 24.83%. The company’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.73 EPS. Sell-side analysts expect that Euronet Worldwide, Inc. will post 6.7 earnings per share for the current year.
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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.
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