PNC Financial Services Group Inc. Lowers Stake in Euronet Worldwide, Inc. (NASDAQ:EEFT)

PNC Financial Services Group Inc. cut its position in shares of Euronet Worldwide, Inc. (NASDAQ:EEFT) by 22.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,120 shares of the business services provider’s stock after selling 1,510 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Euronet Worldwide were worth $520,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of EEFT. Virtu Financial LLC bought a new position in shares of Euronet Worldwide in the 4th quarter worth about $388,000. Ophir Asset Management Pty Ltd bought a new position in shares of Euronet Worldwide in the 4th quarter worth about $31,186,000. Palogic Value Management L.P. bought a new position in shares of Euronet Worldwide in the 4th quarter worth about $1,443,000. Gillson Capital LP bought a new position in shares of Euronet Worldwide in the 4th quarter worth about $9,468,000. Finally, Granahan Investment Management LLC lifted its position in shares of Euronet Worldwide by 8.0% in the 4th quarter. Granahan Investment Management LLC now owns 221,061 shares of the business services provider’s stock worth $22,435,000 after buying an additional 16,358 shares during the last quarter. 91.60% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Needham & Company LLC increased their price objective on shares of Euronet Worldwide from $120.00 to $125.00 and gave the stock a “buy” rating in a report on Thursday, May 2nd. Evercore ISI raised their target price on shares of Euronet Worldwide from $118.00 to $135.00 and gave the stock an “outperform” rating in a report on Tuesday, March 26th. Citigroup raised their target price on shares of Euronet Worldwide from $120.00 to $135.00 and gave the stock a “buy” rating in a report on Tuesday, May 28th. DA Davidson raised their price target on shares of Euronet Worldwide from $126.00 to $136.00 and gave the stock a “buy” rating in a report on Friday, May 3rd. Finally, Monness Crespi & Hardt assumed coverage on shares of Euronet Worldwide in a report on Wednesday, March 20th. They set a “buy” rating and a $140.00 price target for the company. Two equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $123.56.

Euronet Worldwide Stock Down 0.1 %

Shares of NASDAQ:EEFT opened at $106.31 on Friday. Euronet Worldwide, Inc. has a 52 week low of $73.84 and a 52 week high of $121.06. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.33 and a current ratio of 1.33. The company’s fifty day moving average is $110.52 and its 200-day moving average is $106.27. The company has a market capitalization of $4.88 billion, a PE ratio of 18.72 and a beta of 1.47.

Euronet Worldwide (NASDAQ:EEFT) last issued its earnings results on Tuesday, April 30th. The business services provider reported $1.02 EPS for the quarter, beating the consensus estimate of $0.77 by $0.25. Euronet Worldwide had a net margin of 7.63% and a return on equity of 26.71%. The company had revenue of $857.00 million for the quarter, compared to the consensus estimate of $837.85 million. Equities research analysts predict that Euronet Worldwide, Inc. will post 7.82 earnings per share for the current fiscal year.

About Euronet Worldwide

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.