According to Zacks, “EVO Payments International LLC is a payments service provider of merchant acquiring and processing solutions for merchants, independent software vendors, financial institutions, independent sales organizations, government organizations and multinational corporations. It operates primarily in North America and Europe. EVO Payments International LLC is located in Atlanta, Georgia. “
Several other research firms have also issued reports on EVOP. ValuEngine lowered shares of EVO Payments from a buy rating to a hold rating in a research report on Friday, January 4th. First Analysis started coverage on shares of EVO Payments in a research report on Thursday, January 31st. They set an outperform rating and a $28.00 price target on the stock. Finally, Bank of America lowered shares of EVO Payments from a neutral rating to an underperform rating and reduced their price target for the stock from $28.00 to $23.00 in a research report on Tuesday, January 8th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the stock. The company currently has a consensus rating of Hold and an average price target of $25.55.
EVO Payments (NASDAQ:EVOP) last announced its earnings results on Wednesday, March 13th. The company reported $0.13 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.18 by ($0.05). The business had revenue of $150.82 million for the quarter, compared to analysts’ expectations of $150.70 million. On average, equities research analysts expect that EVO Payments will post 0.55 earnings per share for the current year.
In related news, EVP Michael L. Reidenbach sold 2,000 shares of the stock in a transaction that occurred on Friday, February 1st. The shares were sold at an average price of $25.16, for a total transaction of $50,320.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Catherine E. Lafiandra sold 1,000 shares of the stock in a transaction that occurred on Wednesday, February 6th. The stock was sold at an average price of $26.50, for a total transaction of $26,500.00. The disclosure for this sale can be found here. Insiders have sold a total of 15,000 shares of company stock worth $406,420 in the last quarter.
A number of large investors have recently modified their holdings of the stock. Brown Advisory Inc. lifted its stake in EVO Payments by 11.2% in the 4th quarter. Brown Advisory Inc. now owns 2,543,612 shares of the company’s stock valued at $62,751,000 after purchasing an additional 256,261 shares during the last quarter. BlackRock Inc. lifted its stake in EVO Payments by 80.9% in the 4th quarter. BlackRock Inc. now owns 1,769,998 shares of the company’s stock valued at $43,666,000 after purchasing an additional 791,431 shares during the last quarter. Vanguard Group Inc lifted its stake in EVO Payments by 78.2% in the 3rd quarter. Vanguard Group Inc now owns 1,620,579 shares of the company’s stock valued at $38,731,000 after purchasing an additional 711,204 shares during the last quarter. Vanguard Group Inc. lifted its stake in EVO Payments by 78.2% in the 3rd quarter. Vanguard Group Inc. now owns 1,620,579 shares of the company’s stock valued at $38,731,000 after purchasing an additional 711,204 shares during the last quarter. Finally, Eagle Asset Management Inc. lifted its stake in EVO Payments by 13.9% in the 4th quarter. Eagle Asset Management Inc. now owns 1,506,803 shares of the company’s stock valued at $37,172,000 after purchasing an additional 184,194 shares during the last quarter. 35.96% of the stock is owned by institutional investors and hedge funds.
About EVO Payments
EVO Payments, Inc operates as an integrated merchant acquirer and payment processor servicing approximately 525,000 merchants. The company processes approximately 900 million transactions in North America and approximately 1.7 billion transactions in Europe. Its payment and commerce solutions consist of gateway solutions, online fraud prevention and management reporting, online hosted payments page capabilities, security tokenization, and encryption solutions at the point-of-sale and online; dynamic currency conversion; loyalty offers; and other ancillary solutions.
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