EVO Payments (EVOP) Rating Lowered to Sell at Zacks Investment Research
EVO Payments (NASDAQ:EVOP) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Tuesday.
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. “
A number of other equities analysts have also recently issued reports on the company. Barclays initiated coverage on EVO Payments in a report on Wednesday, November 14th. They set an “equal weight” rating and a $29.00 target price for the company. SunTrust Banks increased their target price on EVO Payments to $32.00 and gave the stock a “buy” rating in a report on Thursday, November 8th. BTIG Research initiated coverage on EVO Payments in a report on Tuesday, November 27th. They set a “buy” rating and a $31.00 target price for the company. ValuEngine cut EVO Payments from a “buy” rating to a “hold” rating in a report on Friday, January 4th. Finally, Bank of America cut EVO Payments from a “neutral” rating to an “underperform” rating and lowered their target price for the stock from $28.00 to $23.00 in a report on Tuesday, January 8th. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $25.30.
EVO Payments (NASDAQ:EVOP) last released its earnings results on Wednesday, November 7th. The company reported $0.06 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.14 by ($0.08). The business had revenue of $144.76 million during the quarter, compared to analysts’ expectations of $142.24 million. As a group, sell-side analysts predict that EVO Payments will post 0.52 earnings per share for the current fiscal year.
In other news, insider Darren Wilson sold 25,000 shares of the stock in a transaction dated Thursday, December 6th. The shares were sold at an average price of $24.62, for a total transaction of $615,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Brendan F. Tansill sold 39,900 shares of the stock in a transaction dated Tuesday, December 11th. The stock was sold at an average price of $25.12, for a total transaction of $1,002,288.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 124,900 shares of company stock valued at $3,124,988.
Several institutional investors have recently bought and sold shares of EVOP. Eagle Asset Management Inc. boosted its stake in shares of EVO Payments by 309.5% during the 3rd quarter. Eagle Asset Management Inc. now owns 1,322,609 shares of the company’s stock worth $31,610,000 after buying an additional 999,656 shares during the last quarter. Carillon Tower Advisers Inc. acquired a new stake in EVO Payments in the 3rd quarter valued at about $22,107,000. BlackRock Inc. lifted its stake in EVO Payments by 732.8% in the 3rd quarter. BlackRock Inc. now owns 978,567 shares of the company’s stock valued at $23,389,000 after purchasing an additional 861,067 shares during the last quarter. FMR LLC lifted its stake in EVO Payments by 2,447.2% in the 3rd quarter. FMR LLC now owns 781,978 shares of the company’s stock valued at $18,689,000 after purchasing an additional 751,278 shares during the last quarter. Finally, 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. Institutional investors own 32.82% of the company’s stock.
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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