Comerica Bank Has $1.80 Million Stake in Euronet Worldwide, Inc. (NASDAQ:EEFT)

Comerica Bank decreased its stake in shares of Euronet Worldwide, Inc. (NASDAQ:EEFT – Get Rating) by 8.6% during the third quarter, HoldingsChannel.com reports. The fund owned 21,615 shares of the business services provider’s stock after selling 2,042 shares during the period. Comerica Bank’s holdings in Euronet Worldwide were worth $1,801,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in EEFT. Wasatch Advisors Inc. grew its holdings in Euronet Worldwide by 18.5% during the first quarter. Wasatch Advisors Inc. now owns 2,764,637 shares of the business services provider’s stock valued at $359,818,000 after purchasing an additional 431,262 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in Euronet Worldwide by 16.5% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,530,530 shares of the business services provider’s stock valued at $191,711,000 after buying an additional 358,911 shares during the last quarter. Goldman Sachs Group Inc. grew its position in shares of Euronet Worldwide by 139.1% in the first quarter. Goldman Sachs Group Inc. now owns 569,056 shares of the business services provider’s stock valued at $74,062,000 after purchasing an additional 331,067 shares during the last quarter. Northern Trust Corp grew its position in shares of Euronet Worldwide by 66.2% in the first quarter. Northern Trust Corp now owns 418,403 shares of the business services provider’s stock valued at $54,456,000 after purchasing an additional 166,627 shares during the last quarter. Finally, Point72 Asset Management L.P. grew its position in shares of Euronet Worldwide by 4,005.9% in the second quarter. Point72 Asset Management L.P. now owns 131,390 shares of the business services provider’s stock valued at $13,217,000 after purchasing an additional 128,190 shares during the last quarter. Institutional investors and hedge funds own 93.16% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. DA Davidson lowered their target price on Euronet Worldwide from $170.00 to $140.00 and set a “buy” rating on the stock in a report on Thursday, October 6th. Truist Financial raised their price objective on shares of Euronet Worldwide from $100.00 to $135.00 and gave the stock a “buy” rating in a research note on Friday. Citigroup raised their price objective on shares of Euronet Worldwide from $95.00 to $98.00 and gave the stock a “buy” rating in a research note on Tuesday, October 25th. Wolfe Research lowered shares of Euronet Worldwide from a “peer perform” rating to an “underperform” rating and set a $98.00 price target on the stock. in a research report on Thursday, January 5th. Finally, Keefe, Bruyette & Woods lowered shares of Euronet Worldwide from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $124.00 to $90.00 in a research report on Sunday, October 9th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $114.88.

Insider Buying and Selling

In related news, CEO Michael J. Brown sold 15,689 shares of the firm’s stock in a transaction that occurred on Friday, November 18th. The stock was sold at an average price of $89.87, for a total transaction of $1,409,970.43. Following the completion of the transaction, the chief executive officer now owns 1,467,763 shares in the company, valued at approximately $131,907,860.81. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 6.70% of the stock is owned by corporate insiders.

Euronet Worldwide Price Performance

Shares of Euronet Worldwide stock opened at $108.98 on Friday. The firm has a market cap of $5.40 billion, a P/E ratio of 35.61 and a beta of 1.34. The firm’s 50-day simple moving average is $94.57 and its 200-day simple moving average is $91.38. Euronet Worldwide, Inc. has a twelve month low of $71.60 and a twelve month high of $149.92. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.50 and a current ratio of 1.50.

Euronet Worldwide (NASDAQ:EEFT – Get Rating) last released its quarterly earnings data on Thursday, October 20th. The business services provider reported $2.51 earnings per share for the quarter, beating analysts’ consensus estimates of $2.29 by $0.22. Euronet Worldwide had a return on equity of 25.65% and a net margin of 4.87%. The company had revenue of $931.30 million for the quarter, compared to the consensus estimate of $914.93 million. As a group, research analysts expect that Euronet Worldwide, Inc. will post 5.73 EPS for the current fiscal year.

Euronet Worldwide Profile

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Euronet Worldwide, Inc provides payment and transaction processing and distribution solutions to financial institutions, agents, retailers, merchants, content providers, and individual consumers worldwide. The company's Electronic Fund Transfer 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.