Zacks Investment Research cut shares of EVO Payments (NASDAQ:EVOP) from a strong-buy rating to a hold rating in a research report report published on Monday morning, 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. “

Other research analysts have also issued research reports about the company. Cantor Fitzgerald began coverage on EVO Payments in a report on Wednesday, May 29th. They set a neutral rating and a $30.05 target price for the company. Northcoast Research began coverage on EVO Payments in a report on Friday, May 24th. They set a neutral rating for the company. ValuEngine lowered EVO Payments from a buy rating to a hold rating in a report on Tuesday, August 6th. Finally, BTIG Research reaffirmed a hold rating on shares of EVO Payments in a report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company’s stock. EVO Payments presently has a consensus rating of Hold and an average target price of $28.76.

EVOP stock opened at $27.78 on Monday. The stock has a market cap of $2.41 billion, a price-to-earnings ratio of -18.77, a PEG ratio of 4.49 and a beta of 0.61. EVO Payments has a twelve month low of $20.29 and a twelve month high of $31.93. The firm’s 50-day moving average is $30.04.

EVO Payments (NASDAQ:EVOP) last posted its 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. The business had revenue of $122.52 million during the quarter, compared to analyst estimates of $141.10 million. EVO Payments had a negative return on equity of 5.05% and a negative net margin of 6.85%. The company’s revenue was down 13.0% compared to the same quarter last year. As a group, sell-side analysts predict that EVO Payments will post 0.55 earnings per share for the current fiscal year.

In other news, EVP Groot Steven J. De sold 2,000 shares of the business’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $29.00, for a total transaction of $58,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Groot Steven J. De sold 48,899 shares of the business’s stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $29.87, for a total value of $1,460,613.13. The disclosure for this sale can be found here. Insiders have sold 78,999 shares of company stock valued at $2,358,053 in the last three months. 61.16% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently modified their holdings of the company. US Bancorp DE grew its holdings in shares of EVO Payments by 22.3% during the second quarter. US Bancorp DE now owns 2,321 shares of the company’s stock worth $73,000 after purchasing an additional 423 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of EVO Payments during the second quarter worth about $75,000. Bank of Montreal Can purchased a new position in shares of EVO Payments during the second quarter worth about $82,000. Mitsubishi UFJ Securities Holdings Co. Ltd. purchased a new position in shares of EVO Payments during the first quarter worth about $91,000. Finally, Legal & General Group Plc grew its holdings in shares of EVO Payments by 51.4% during the fourth quarter. Legal & General Group Plc now owns 3,728 shares of the company’s stock worth $92,000 after purchasing an additional 1,265 shares in the last quarter. 37.87% of the stock is owned by 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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