Credit Suisse AG Reduces Stake in Euronet Worldwide, Inc. (NASDAQ:EEFT)

Posted by on Mar 2nd, 2023

Credit Suisse AG reduced its stake in Euronet Worldwide, Inc. (NASDAQ:EEFT – Get Rating) by 2.1% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 47,538 shares of the business services provider’s stock after selling 1,020 shares during the quarter. Credit Suisse AG owned approximately 0.10% of Euronet Worldwide worth $3,601,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in EEFT. Wasatch Advisors Inc. grew its holdings in Euronet Worldwide by 18.5% in the 1st quarter. Wasatch Advisors Inc. now owns 2,764,637 shares of the business services provider’s stock valued at $359,818,000 after buying an additional 431,262 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Euronet Worldwide by 16.5% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,530,530 shares of the business services provider’s stock worth $191,711,000 after purchasing an additional 358,911 shares during the period. Goldman Sachs Group Inc. grew its holdings in shares of Euronet Worldwide by 139.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 569,056 shares of the business services provider’s stock worth $74,062,000 after purchasing an additional 331,067 shares during the period. Northern Trust Corp grew its holdings in shares of Euronet Worldwide by 66.2% during the 1st quarter. Northern Trust Corp now owns 418,403 shares of the business services provider’s stock worth $54,456,000 after purchasing an additional 166,627 shares during the period. Finally, Point72 Asset Management L.P. grew its holdings in shares of Euronet Worldwide by 4,005.9% during the 2nd quarter. Point72 Asset Management L.P. now owns 131,390 shares of the business services provider’s stock worth $13,217,000 after purchasing an additional 128,190 shares during the period. 93.16% of the stock is currently owned by hedge funds and other institutional investors.

Euronet Worldwide Price Performance

EEFT stock opened at $109.44 on Thursday. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.58 and a quick ratio of 1.58. The firm has a market capitalization of $5.45 billion, a P/E ratio of 24.70 and a beta of 1.37. The business’s 50-day moving average is $106.18 and its two-hundred day moving average is $93.74. Euronet Worldwide, Inc. has a 1 year low of $71.60 and a 1 year high of $141.20.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on EEFT shares. Wolfe Research cut Euronet Worldwide from a “peer perform” rating to an “underperform” rating and set a $98.00 price target for the company. in a report on Thursday, January 5th. Needham & Company LLC increased their price target on Euronet Worldwide from $105.00 to $140.00 and gave the stock a “buy” rating in a report on Thursday, February 9th. Stephens reiterated an “equal weight” rating and set a $100.00 price target on shares of Euronet Worldwide in a report on Wednesday, February 8th. UBS Group raised their target price on Euronet Worldwide from $131.00 to $135.00 and gave the company a “buy” rating in a report on Thursday, February 9th. Finally, Truist Financial raised their target price on Euronet Worldwide from $100.00 to $135.00 and gave the company a “buy” rating in a report on Friday, January 20th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $119.38.

About Euronet Worldwide

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Euronet Worldwide, Inc engages in the provision of electronic payment and transaction processing and distribution solutions. Its products and services include automated teller machine (ATM), point-of-sale (POS), card outsourcing, card issuing and merchant acquiring services, software solutions and cloud based payment solutions, electronic distribution of electronic payment products, foreign exchange services, and international payment services.

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Institutional Ownership by Quarter for Euronet Worldwide (NASDAQ:EEFT)

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