GAM Holding AG lessened its holdings in shares of Euronet Worldwide, Inc. (NASDAQ:EEFT) by 34.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,082 shares of the business services provider’s stock after selling 3,192 shares during the period. GAM Holding AG’s holdings in Euronet Worldwide were worth $867,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also added to or reduced their stakes in EEFT. Norges Bank bought a new stake in shares of Euronet Worldwide during the fourth quarter valued at approximately $43,343,000. Rice Hall James & Associates LLC raised its holdings in shares of Euronet Worldwide by 1,147.4% during the first quarter. Rice Hall James & Associates LLC now owns 227,034 shares of the business services provider’s stock valued at $32,373,000 after buying an additional 208,833 shares during the last quarter. Columbus Circle Investors raised its holdings in shares of Euronet Worldwide by 194.1% during the first quarter. Columbus Circle Investors now owns 283,292 shares of the business services provider’s stock valued at $40,395,000 after buying an additional 186,971 shares during the last quarter. Robeco Institutional Asset Management B.V. bought a new stake in shares of Euronet Worldwide during the fourth quarter valued at approximately $18,940,000. Finally, Smith Asset Management Group LP raised its holdings in shares of Euronet Worldwide by 57,472.5% during the fourth quarter. Smith Asset Management Group LP now owns 171,566 shares of the business services provider’s stock valued at $17,565,000 after buying an additional 171,268 shares during the last quarter. 99.51% of the stock is currently owned by institutional investors.
EEFT has been the topic of a number of recent analyst reports. Piper Jaffray Companies lifted their price target on Euronet Worldwide to $159.00 in a report on Tuesday, March 5th. DA Davidson lifted their price target on Euronet Worldwide to $152.00 and gave the company a “buy” rating in a report on Monday, February 11th. Needham & Company LLC reaffirmed a “buy” rating and set a $160.00 price target (up previously from $135.00) on shares of Euronet Worldwide in a report on Monday, February 11th. Zacks Investment Research raised Euronet Worldwide from a “hold” rating to a “buy” rating and set a $145.00 price target on the stock in a report on Thursday, February 14th. Finally, SunTrust Banks lifted their price target on Euronet Worldwide to $145.00 and gave the company a “buy” rating in a report on Monday, February 11th. Two equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. Euronet Worldwide presently has an average rating of “Buy” and a consensus 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 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.83 by $0.02. Euronet Worldwide had a return on equity of 24.83% and a net margin of 9.40%. The firm had revenue of $577.50 million for the quarter, compared to analysts’ expectations of $602.73 million. During the same quarter in the previous year, the company earned $0.73 earnings per share. The firm’s quarterly revenue was up 4.9% compared to the same quarter last year. As a group, analysts anticipate that Euronet Worldwide, Inc. will post 6.7 earnings per share for the current fiscal 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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