Commerce Bank Purchases New Shares in Euronet Worldwide, Inc. $EEFT

Commerce Bank purchased a new position in Euronet Worldwide, Inc. (NASDAQ:EEFT) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 15,785 shares of the business services provider’s stock, valued at approximately $1,155,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Johnson Financial Group Inc. acquired a new position in shares of Euronet Worldwide in the third quarter worth about $26,000. Danske Bank A S purchased a new position in shares of Euronet Worldwide in the third quarter worth approximately $26,000. Geneos Wealth Management Inc. raised its holdings in shares of Euronet Worldwide by 48.4% during the first 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 acquired a new stake in shares of Euronet Worldwide during the fourth quarter valued at approximately $38,000. Finally, Allworth Financial LP purchased a new stake in shares of Euronet Worldwide in the 2nd quarter valued at approximately $43,000. Institutional investors and hedge funds own 91.60% of the company’s stock.

Euronet Worldwide Stock Performance

EEFT stock opened at $71.21 on Wednesday. The firm 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 52 week low of $62.50 and a 52 week high of $96.93. The stock has a market cap of $2.71 billion, a P/E 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 quarterly earnings data on Thursday, July 30th. The business services provider reported $2.82 earnings per share for the quarter, missing the consensus estimate of $2.93 by ($0.11). Euronet Worldwide had a net margin of 6.63% and a return on equity of 28.60%. During the same quarter last year, the business posted $2.56 earnings per share. The business’s quarterly revenue was up 3.2% on a year-over-year basis. Research analysts anticipate that Euronet Worldwide, Inc. will post 9.55 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

Euronet Worldwide Company Profile

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.