Select Equity Group L.P. Raises Holdings in EVO Payments, Inc. (NASDAQ:EVOP)

Select Equity Group L.P. grew its position in shares of EVO Payments, Inc. (NASDAQ:EVOP) by 157.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 39,342 shares of the company’s stock after buying an additional 24,064 shares during the period. Select Equity Group L.P.’s holdings in EVO Payments were worth $1,083,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Brown Advisory Inc. lifted its position in shares of EVO Payments by 2.9% during the 1st quarter. Brown Advisory Inc. now owns 4,864,247 shares of the company’s stock valued at $133,865,000 after buying an additional 138,036 shares during the last quarter. BlackRock Inc. lifted its holdings in EVO Payments by 11.9% during the 1st quarter. BlackRock Inc. now owns 3,582,025 shares of the company’s stock worth $98,577,000 after purchasing an additional 380,431 shares in the last quarter. Artisan Partners Limited Partnership lifted its holdings in EVO Payments by 75.7% during the 1st quarter. Artisan Partners Limited Partnership now owns 3,392,199 shares of the company’s stock worth $93,353,000 after purchasing an additional 1,462,071 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in EVO Payments by 53.0% during the 1st quarter. Ameriprise Financial Inc. now owns 2,679,789 shares of the company’s stock worth $73,747,000 after purchasing an additional 927,740 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its holdings in EVO Payments by 30.6% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 1,523,645 shares of the company’s stock worth $41,931,000 after purchasing an additional 357,368 shares in the last quarter. 57.34% of the stock is currently owned by hedge funds and other institutional investors.

NASDAQ EVOP traded up $0.73 during trading on Thursday, reaching $29.39. The company’s stock had a trading volume of 101,974 shares, compared to its average volume of 191,360. The company has a market capitalization of $2.44 billion, a PE ratio of 46.98, a PEG ratio of 1.64 and a beta of 1.75. The stock has a fifty day moving average of $28.76. EVO Payments, Inc. has a one year low of $20.45 and a one year high of $31.99.

EVO Payments (NASDAQ:EVOP) last announced its earnings results on Thursday, May 6th. The company reported $0.13 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.13. The business had revenue of $106.20 million for the quarter, compared to analyst estimates of $105.63 million. EVO Payments had a negative return on equity of 6.89% and a net margin of 0.53%. The company’s quarterly revenue was down 4.5% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.12) EPS. As a group, sell-side analysts anticipate that EVO Payments, Inc. will post 0.77 earnings per share for the current year.

In related news, insider Darren Wilson sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, May 3rd. The stock was sold at an average price of $28.56, for a total transaction of $114,240.00. Following the transaction, the insider now directly owns 52,515 shares in the company, valued at approximately $1,499,828.40. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CAO Anthony J. Radesca sold 25,746 shares of the firm’s stock in a transaction that occurred on Monday, May 10th. The stock was sold at an average price of $28.23, for a total value of $726,809.58. Following the transaction, the chief accounting officer now owns 10,901 shares in the company, valued at $307,735.23. The disclosure for this sale can be found here. Insiders have sold a total of 87,467 shares of company stock worth $2,494,897 over the last quarter. Corporate insiders own 42.60% of the company’s stock.

EVOP has been the topic of a number of recent research reports. Zacks Investment Research raised EVO Payments from a “sell” rating to a “hold” rating in a report on Friday, May 7th. BTIG Research reissued a “buy” rating and set a $33.00 price objective (up previously from $30.00) on shares of EVO Payments in a report on Thursday, May 6th. Finally, Barclays increased their price objective on EVO Payments from $28.00 to $30.00 and gave the stock an “equal weight” rating in a report on Monday, May 10th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $32.20.

About EVO Payments

EVO Payments, Inc operates as an integrated merchant acquirer and payment processor in the Americas and Europe. Its payment and commerce solutions consist of gateway solutions, online fraud prevention and management reporting, online hosted payments page capabilities, cellphone-based SMS integrated payment collection services, security tokenization and encryption solutions at the point-of-sale, dynamic currency conversion, ACH, loyalty offers, and other ancillary solutions.

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Institutional Ownership by Quarter for EVO Payments (NASDAQ:EVOP)

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