Tocqueville Asset Management L.P. lessened its position in shares of Euronet Worldwide, Inc. (NASDAQ:EEFT) by 55.4% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 3,604 shares of the business services provider’s stock after selling 4,476 shares during the quarter. Tocqueville Asset Management L.P.’s holdings in Euronet Worldwide were worth $568,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in EEFT. Invesco Ltd. increased its position in Euronet Worldwide by 211.1% during the 2nd quarter. Invesco Ltd. now owns 936,781 shares of the business services provider’s stock valued at $157,603,000 after purchasing an additional 635,710 shares during the period. Nuveen Asset Management LLC acquired a new stake in Euronet Worldwide during the 2nd quarter valued at approximately $84,681,000. Vanguard Group Inc. increased its position in Euronet Worldwide by 4.9% during the 2nd quarter. Vanguard Group Inc. now owns 4,799,013 shares of the business services provider’s stock valued at $807,386,000 after purchasing an additional 223,005 shares during the period. Teacher Retirement System of Texas increased its position in Euronet Worldwide by 176.8% during the 3rd quarter. Teacher Retirement System of Texas now owns 312,060 shares of the business services provider’s stock valued at $45,654,000 after purchasing an additional 199,303 shares during the period. Finally, Scout Investments Inc. acquired a new stake in Euronet Worldwide during the 4th quarter valued at approximately $30,540,000. 92.33% of the stock is owned by institutional investors and hedge funds.
In related news, CEO Nikos Fountas sold 70,755 shares of the stock in a transaction on Friday, December 6th. The stock was sold at an average price of $157.36, for a total value of $11,134,006.80. Following the transaction, the chief executive officer now directly owns 40,505 shares in the company, valued at approximately $6,373,866.80. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Kevin J. Caponecchi sold 33,565 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $153.43, for a total value of $5,149,877.95. Following the completion of the transaction, the chief executive officer now owns 85,064 shares in the company, valued at $13,051,369.52. The disclosure for this sale can be found here. Over the last quarter, insiders sold 125,778 shares of company stock worth $19,588,030. 6.40% of the stock is owned by company insiders.
Euronet Worldwide (NASDAQ:EEFT) last announced its quarterly earnings data on Tuesday, October 22nd. The business services provider reported $2.77 EPS for the quarter, topping the consensus estimate of $2.73 by $0.04. The company had revenue of $787.00 million during the quarter, compared to the consensus estimate of $820.11 million. Euronet Worldwide had a net margin of 11.10% and a return on equity of 26.78%. Analysts anticipate that Euronet Worldwide, Inc. will post 6.71 earnings per share for the current year.
Several analysts have recently commented on the stock. ValuEngine downgraded shares of Euronet Worldwide from a “hold” rating to a “sell” rating in a research report on Saturday, January 4th. DA Davidson raised their price objective on shares of Euronet Worldwide from $174.00 to $180.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Needham & Company LLC reaffirmed a “buy” rating and set a $175.00 price objective on shares of Euronet Worldwide in a research report on Monday, November 18th. Northland Securities reaffirmed a “buy” rating and set a $175.00 price objective on shares of Euronet Worldwide in a research report on Tuesday, October 1st. Finally, BidaskClub raised shares of Euronet Worldwide from a “sell” rating to a “hold” rating in a research report on Tuesday, January 14th. One research analyst has rated the stock with a sell rating, one has given a hold rating and nine have given a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $172.56.
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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