Zacks Investment Research lowered shares of EVO Payments (NASDAQ:EVOP) from a buy rating to a hold rating in a research report released on Friday 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. “

Several other research analysts have also recently commented on the stock. Compass Point initiated coverage on shares of EVO Payments in a research report on Thursday, December 5th. They issued a neutral rating and a $28.00 target price for the company. Wells Fargo & Co initiated coverage on shares of EVO Payments in a research report on Monday, October 21st. They issued an outperform rating and a $32.00 target price for the company. Finally, BTIG Research upgraded shares of EVO Payments from a neutral rating to a buy rating and set a $32.00 target price for the company in a research report on Sunday, January 5th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock presently has an average rating of Hold and a consensus price target of $30.01.

Shares of NASDAQ:EVOP traded up $0.38 during trading on Friday, reaching $27.75. 684,358 shares of the company’s stock traded hands, compared to its average volume of 360,565. EVO Payments has a 12 month low of $22.57 and a 12 month high of $31.93. The stock has a market capitalization of $2.25 billion, a P/E ratio of -18.75, a price-to-earnings-growth ratio of 2.68 and a beta of 0.54. The company has a 50 day moving average of $26.94 and a 200-day moving average of $28.47.

EVO Payments (NASDAQ:EVOP) last posted its earnings results on Thursday, November 7th. The company reported $0.19 EPS for the quarter, topping the consensus estimate of $0.16 by $0.03. EVO Payments had a negative net margin of 2.11% and a negative return on equity of 5.02%. The firm had revenue of $152.60 million during the quarter, compared to analysts’ expectations of $146.83 million. During the same quarter in the prior year, the firm earned $0.17 EPS. EVO Payments’s quarterly revenue was up 5.4% on a year-over-year basis. On average, research analysts anticipate that EVO Payments will post 0.54 EPS for the current year.

In other news, insider Darren Wilson sold 4,000 shares of the stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $27.00, for a total value of $108,000.00. Following the completion of the transaction, the insider now directly owns 86,682 shares in the company, valued at $2,340,414. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Michael L. Reidenbach sold 2,000 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $27.82, for a total transaction of $55,640.00. Following the completion of the transaction, the executive vice president now owns 356,563 shares of the company’s stock, valued at $9,919,582.66. The disclosure for this sale can be found here. In the last 90 days, insiders sold 16,000 shares of company stock valued at $439,240. 61.16% of the stock is owned by insiders.

Several institutional investors have recently bought and sold shares of EVOP. JPMorgan Chase & Co. boosted its holdings in shares of EVO Payments by 170.8% in the second quarter. JPMorgan Chase & Co. now owns 151,825 shares of the company’s stock valued at $4,709,000 after acquiring an additional 95,757 shares in the last quarter. Bank of Montreal Can bought a new position in shares of EVO Payments in the second quarter valued at approximately $82,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of EVO Payments by 35.3% in the second quarter. Charles Schwab Investment Management Inc. now owns 76,242 shares of the company’s stock valued at $2,404,000 after acquiring an additional 19,873 shares in the last quarter. LPL Financial LLC boosted its holdings in shares of EVO Payments by 25.2% in the second quarter. LPL Financial LLC now owns 9,935 shares of the company’s stock valued at $299,000 after acquiring an additional 2,001 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in shares of EVO Payments by 43.8% in the second quarter. Bank of New York Mellon Corp now owns 147,006 shares of the company’s stock valued at $4,635,000 after acquiring an additional 44,780 shares in the last quarter. Institutional investors and hedge funds own 48.20% of the company’s stock.

EVO Payments Company Profile

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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