Zacks Investment Research Lowers EVO Payments (EVOP) to Sell
Zacks Investment Research lowered shares of EVO Payments (NASDAQ:EVOP) from a hold rating to a sell rating in a research note issued to investors on Wednesday morning.
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 equities research analysts have also weighed in on the stock. Bank of America lowered shares of EVO Payments from a neutral rating to an underperform rating and dropped their price objective for the stock from $28.00 to $23.00 in a research note on Tuesday, January 8th. They noted that the move was a valuation call. 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 objective on the stock. 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 objective on the stock. Finally, SunTrust Banks increased their price objective on shares of EVO Payments to $32.00 and gave the stock a buy rating in a research note on Thursday, November 8th. 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 stock. EVO Payments has an average rating of Hold and a consensus price target of $25.30.
EVO Payments (NASDAQ:EVOP) last issued its earnings results on Wednesday, November 7th. The company reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.08). The firm had revenue of $144.76 million for the quarter, compared to analyst estimates of $142.24 million. As a group, equities research analysts forecast that EVO Payments will post 0.52 EPS for the current year.
In other news, EVP Groot Steven J. De sold 60,000 shares of the stock in a transaction that occurred on Thursday, December 6th. The shares were sold at an average price of $25.12, for a total value of $1,507,200.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Brendan F. Tansill sold 39,900 shares of the stock in a transaction that occurred on Tuesday, December 11th. The shares were 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. Insiders sold 124,900 shares of company stock worth $3,124,988 in the last 90 days.
Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc boosted its holdings in shares of EVO Payments by 78.2% in the third quarter. Vanguard Group Inc now owns 1,620,579 shares of the company’s stock valued at $38,731,000 after acquiring an additional 711,204 shares in the last quarter. Marshall Wace LLP bought a new position in shares of EVO Payments in the third quarter valued at approximately $7,705,000. Vanguard Group Inc. boosted its holdings in shares of EVO Payments by 78.2% in the third quarter. Vanguard Group Inc. now owns 1,620,579 shares of the company’s stock valued at $38,731,000 after acquiring an additional 711,204 shares in the last quarter. TIAA CREF Investment Management LLC boosted its holdings in shares of EVO Payments by 150.8% in the third quarter. TIAA CREF Investment Management LLC now owns 32,571 shares of the company’s stock valued at $778,000 after acquiring an additional 19,585 shares in the last quarter. Finally, Teachers Advisors LLC bought a new position in shares of EVO Payments in the third quarter valued at approximately $725,000. Institutional investors and hedge funds 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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