EVO Payments (NASDAQ:EVOP) Lowered to “Hold” at Zacks Investment Research

Zacks Investment Research downgraded shares of EVO Payments (NASDAQ:EVOP) from a buy rating to a hold rating in a research note published on Thursday, Zacks.com reports.

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. “

EVOP has been the topic of a number of other research reports. BTIG Research restated a hold rating on shares of EVO Payments in a research report on Thursday, August 8th. ValuEngine downgraded EVO Payments from a buy rating to a hold rating in a research report on Tuesday, August 6th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus target price of $29.15.

Shares of EVOP stock traded down $0.44 on Thursday, reaching $28.45. The company’s stock had a trading volume of 18,862 shares, compared to its average volume of 375,953. EVO Payments has a 12-month low of $21.81 and a 12-month high of $31.93. The company has a market capitalization of $2.34 billion, a P/E ratio of -19.20, a PEG ratio of 4.36 and a beta of 0.62. The stock’s 50 day simple moving average is $28.49 and its 200-day simple moving average is $29.15.

EVO Payments (NASDAQ:EVOP) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.16 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.13 by $0.03. EVO Payments had a negative return on equity of 4.80% and a negative net margin of 6.85%. The business had revenue of $122.52 million for the quarter, compared to the consensus estimate of $141.10 million. The business’s revenue was down 13.0% compared to the same quarter last year. On average, analysts predict that EVO Payments will post 0.55 earnings per share for the current fiscal year.

In other news, EVP Michael L. Reidenbach sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $28.97, for a total transaction of $57,940.00. Following the transaction, the executive vice president now directly owns 362,563 shares of the company’s stock, valued at $10,503,450.11. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Darren Wilson sold 4,000 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $29.30, for a total value of $117,200.00. Following the transaction, the insider now directly owns 103,976 shares in the company, valued at $3,046,496.80. The disclosure for this sale can be found here. Insiders have sold 36,000 shares of company stock worth $1,041,140 in the last 90 days. Company insiders own 61.16% of the company’s stock.

Large investors have recently made changes to their positions in the company. JPMorgan Chase & Co. grew its stake in shares of EVO Payments by 170.8% during the second quarter. JPMorgan Chase & Co. now owns 151,825 shares of the company’s stock valued at $4,709,000 after buying an additional 95,757 shares during the last quarter. ETF Managers Group LLC grew its stake in shares of EVO Payments by 38.8% during the second quarter. ETF Managers Group LLC now owns 409,801 shares of the company’s stock valued at $12,712,000 after buying an additional 114,512 shares during the last quarter. Wells Fargo & Company MN grew its stake in shares of EVO Payments by 4.7% during the second quarter. Wells Fargo & Company MN now owns 535,409 shares of the company’s stock valued at $16,881,000 after buying an additional 24,092 shares during the last quarter. Monashee Investment Management LLC bought a new position in shares of EVO Payments during the second quarter valued at about $568,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of EVO Payments during the second quarter valued at about $75,000. 44.85% of the stock is currently owned by hedge funds and other institutional investors.

About EVO Payments

EVO Payments, Inc operates as an integrated merchant acquirer and payment processor servicing approximately 550,000 merchants. The company processes approximately 950 million transactions in North America and approximately 2.1 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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