Retirement Systems of Alabama Trims Holdings in Euronet Worldwide, Inc. (NASDAQ:EEFT)

Retirement Systems of Alabama reduced its position in shares of Euronet Worldwide, Inc. (NASDAQ:EEFT) by 4.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 82,776 shares of the business services provider’s stock after selling 4,028 shares during the period. Retirement Systems of Alabama’s holdings in Euronet Worldwide were worth $8,401,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Allspring Global Investments Holdings LLC increased its stake in Euronet Worldwide by 17.3% in the third quarter. Allspring Global Investments Holdings LLC now owns 3,710,006 shares of the business services provider’s stock valued at $294,500,000 after purchasing an additional 548,457 shares during the last quarter. Burgundy Asset Management Ltd. acquired a new position in shares of Euronet Worldwide during the 3rd quarter valued at about $35,309,000. Van Berkom & Associates Inc. lifted its holdings in shares of Euronet Worldwide by 48.6% during the 3rd quarter. Van Berkom & Associates Inc. now owns 1,069,693 shares of the business services provider’s stock worth $84,912,000 after acquiring an additional 349,720 shares during the period. Voss Capital LLC boosted its position in shares of Euronet Worldwide by 52.8% in the fourth quarter. Voss Capital LLC now owns 565,256 shares of the business services provider’s stock worth $57,368,000 after acquiring an additional 195,404 shares during the last quarter. Finally, Qube Research & Technologies Ltd purchased a new stake in Euronet Worldwide in the third quarter valued at approximately $11,744,000. 91.60% of the stock is currently owned by hedge funds and other institutional investors.

Euronet Worldwide Price Performance

EEFT stock opened at $110.24 on Friday. The firm has a market cap of $5.06 billion, a P/E ratio of 19.41 and a beta of 1.39. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.54 and a current ratio of 1.33. Euronet Worldwide, Inc. has a 1 year low of $73.84 and a 1 year high of $121.55. The stock has a 50-day simple moving average of $107.34 and a 200-day simple moving average of $98.44.

Euronet Worldwide (NASDAQ:EEFT) last issued its quarterly earnings data on Wednesday, February 7th. The business services provider reported $1.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.54 by $0.34. Euronet Worldwide had a net margin of 7.63% and a return on equity of 26.71%. The company had revenue of $957.70 million during the quarter, compared to the consensus estimate of $844.59 million. During the same quarter last year, the company earned $1.12 earnings per share. Euronet Worldwide’s revenue for the quarter was up 10.6% on a year-over-year basis. On average, equities analysts predict that Euronet Worldwide, Inc. will post 7.51 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have weighed in on EEFT shares. Stephens raised shares of Euronet Worldwide from an “equal weight” rating to an “overweight” rating and set a $120.00 price target on the stock in a research note on Thursday, February 1st. William Blair reiterated an “outperform” rating on shares of Euronet Worldwide in a report on Wednesday. Evercore ISI boosted their price target on Euronet Worldwide from $118.00 to $135.00 and gave the company an “outperform” rating in a research report on Tuesday, March 26th. Keefe, Bruyette & Woods raised their price objective on Euronet Worldwide from $115.00 to $116.00 and gave the stock a “market perform” rating in a report on Thursday. Finally, StockNews.com upgraded Euronet Worldwide from a “hold” rating to a “buy” rating in a report on Thursday, February 15th. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $121.89.

Euronet Worldwide Company Profile

Euronet Worldwide, Inc provides payment and transaction processing and distribution solutions to financial institutions, retailers, service providers, and individual consumers worldwide. It operates through three segments: Electronic Fund Transfer Processing, epay, and Money Transfer. The 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 and prepaid card outsourcing, card issuing, and merchant acquiring services.