Bank of America cut shares of EVO Payments (NASDAQ:EVOP) from a neutral rating to an underperform rating in a report issued on Tuesday, Marketbeat.com reports. They currently have $23.00 target price on the stock, down from their prior target price of $28.00. The analysts noted that the move was a valuation call.

A number of other research analysts have also commented on EVOP. ValuEngine lowered shares of EVO Payments from a buy rating to a hold rating in a research note on Friday, January 4th. BTIG Research began coverage on shares of EVO Payments in a research note on Tuesday, November 27th. They set a buy rating and a $31.00 price target on the stock. SunTrust Banks boosted their price target on shares of EVO Payments to $32.00 and gave the stock a buy rating in a research note on Thursday, November 8th. Finally, Barclays began coverage on shares of EVO Payments in a research note on Wednesday, November 14th. They set an equal weight rating and a $29.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average price target of $25.30.

EVOP traded up $0.42 on Tuesday, reaching $23.94. The company had a trading volume of 8,365 shares, compared to its average volume of 320,264. EVO Payments has a 1 year low of $19.00 and a 1 year high of $30.45.

EVO Payments (NASDAQ:EVOP) last posted its quarterly earnings data on Wednesday, November 7th. The company reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.08). The business had revenue of $144.76 million for the quarter, compared to the consensus estimate 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 EVO Payments news, EVP Groot Steven J. De sold 60,000 shares of the company’s stock in a transaction dated Thursday, December 6th. The shares were sold at an average price of $25.12, for a total transaction of $1,507,200.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Darren Wilson sold 25,000 shares of the company’s stock in a transaction dated Thursday, December 6th. The stock was sold at an average price of $24.62, for a total transaction of $615,500.00. The disclosure for this sale can be found here. Insiders have sold 124,900 shares of company stock worth $3,124,988 over the last 90 days.

A number of institutional investors and hedge funds have recently modified their holdings of EVOP. Wells Fargo & Company MN acquired a new position in EVO Payments during the second quarter worth about $8,054,000. BlackRock Inc. acquired a new position in EVO Payments during the second quarter worth about $2,418,000. Legal & General Group Plc acquired a new position in EVO Payments during the second quarter worth about $411,000. FMR LLC acquired a new position in EVO Payments during the second quarter worth about $632,000. Finally, Voya Investment Management LLC acquired a new position in EVO Payments during the second quarter worth about $21,597,000. Institutional investors own 32.82% of the company’s stock.

EVO Payments Company Profile

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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Analyst Recommendations for EVO Payments (NASDAQ:EVOP)

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