Research analysts at Wells Fargo & Co initiated coverage on shares of EVO Payments (NASDAQ:EVOP) in a research report issued to clients and investors on Monday, MarketBeat Ratings reports. The firm set an “outperform” rating and a $32.00 price target on the stock. Wells Fargo & Co‘s price objective would indicate a potential upside of 13.56% from the stock’s current price.

A number of other research analysts have also weighed in on EVOP. Zacks Investment Research lowered EVO Payments from a “buy” rating to a “hold” rating in a report on Thursday, October 17th. BTIG Research reaffirmed a “hold” rating on shares of EVO Payments in a report on Thursday, August 8th. Finally, ValuEngine lowered EVO Payments from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $29.51.

Shares of EVOP stock opened at $28.18 on Monday. The business’s fifty day moving average price is $28.37 and its 200 day moving average price is $29.14. EVO Payments has a 1-year low of $21.81 and a 1-year high of $31.93. The firm has a market capitalization of $2.33 billion, a PE ratio of -19.04, a P/E/G ratio of 4.35 and a beta of 0.62.

EVO Payments (NASDAQ:EVOP) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.16 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.13 by $0.03. EVO Payments had a negative return on equity of 4.80% and a negative net margin of 6.85%. The firm had revenue of $122.52 million for the quarter, compared to analyst estimates of $141.10 million. The company’s quarterly revenue was down 13.0% compared to the same quarter last year. On average, equities research analysts anticipate that EVO Payments will post 0.55 earnings per share for the current year.

In other EVO Payments news, EVP Michael L. Reidenbach sold 2,000 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $28.97, for a total transaction of $57,940.00. Following the sale, the executive vice president now directly owns 362,563 shares in the company, valued at $10,503,450.11. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Darren Wilson sold 4,000 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $29.30, for a total value of $117,200.00. Following the sale, the insider now owns 103,976 shares in the company, valued at $3,046,496.80. The disclosure for this sale can be found here. Insiders have sold 36,000 shares of company stock worth $1,041,140 in the last ninety days. 61.16% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of EVOP. Strs Ohio acquired a new stake in shares of EVO Payments in the third quarter valued at about $773,000. Envestnet Asset Management Inc. acquired a new stake in EVO Payments during the 3rd quarter valued at approximately $308,000. Chartwell Investment Partners LLC grew its stake in EVO Payments by 4.4% during the 2nd quarter. Chartwell Investment Partners LLC now owns 111,670 shares of the company’s stock valued at $3,521,000 after purchasing an additional 4,740 shares in the last quarter. Royal Bank of Canada grew its stake in EVO Payments by 50.2% during the 2nd quarter. Royal Bank of Canada now owns 661,436 shares of the company’s stock valued at $20,855,000 after purchasing an additional 221,200 shares in the last quarter. Finally, DF Dent & Co. Inc. grew its stake in EVO Payments by 25.8% during the 2nd quarter. DF Dent & Co. Inc. now owns 248,633 shares of the company’s stock valued at $7,839,000 after purchasing an additional 51,055 shares in the last quarter. Institutional investors own 44.85% of the company’s stock.

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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Analyst Recommendations for EVO Payments (NASDAQ:EVOP)

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