EVO Payments (NASDAQ:EVOP) Rating Lowered to Hold at Truist Financial

Truist Financial cut shares of EVO Payments (NASDAQ:EVOP – Get Rating) from a buy rating to a hold rating in a research note issued to investors on Tuesday, The Fly reports. They currently have $34.00 price target on the stock, up from their previous price target of $32.00.

Several other research analysts also recently commented on the company. Northcoast Research downgraded EVO Payments from a buy rating to a neutral rating in a research note on Tuesday. William Blair downgraded EVO Payments from an outperform rating to a market perform rating in a research note on Tuesday. Three equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of Hold and a consensus target price of $30.33.

EVO Payments Stock Performance

Shares of EVO Payments stock opened at $33.47 on Tuesday. EVO Payments has a 52-week low of $20.07 and a 52-week high of $33.86. The firm has a 50-day moving average of $24.92 and a 200-day moving average of $23.79. The stock has a market cap of $2.80 billion, a PE ratio of 669.53, a PEG ratio of 1.76 and a beta of 1.40.

EVO Payments (NASDAQ:EVOP – Get Rating) last posted its quarterly earnings data on Monday, August 1st. The company reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.03. EVO Payments had a net margin of 2.49% and a negative return on equity of 13.52%. The business had revenue of $137.70 million during the quarter, compared to analysts’ expectations of $138.59 million. During the same quarter in the prior year, the business posted $0.21 earnings per share. EVO Payments’s revenue was up 12.7% compared to the same quarter last year. Equities research analysts predict that EVO Payments will post 1.03 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Darren Wilson sold 24,500 shares of the company’s stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $33.00, for a total value of $808,500.00. Following the completion of the transaction, the insider now owns 61,441 shares of the company’s stock, valued at $2,027,553. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other EVO Payments news, EVP Michael L. Reidenbach sold 42,000 shares of the stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $33.03, for a total transaction of $1,387,260.00. Following the completion of the sale, the executive vice president now owns 45,068 shares of the company’s stock, valued at approximately $1,488,596.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Darren Wilson sold 24,500 shares of the stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $33.00, for a total transaction of $808,500.00. Following the sale, the insider now directly owns 61,441 shares of the company’s stock, valued at approximately $2,027,553. The disclosure for this sale can be found here. 42.60% of the stock is currently owned by insiders.

Institutional Trading of EVO Payments

A number of institutional investors and hedge funds have recently added to or reduced their stakes in EVOP. Eagle Asset Management Inc. bought a new position in shares of EVO Payments during the 1st quarter worth approximately $28,300,000. Shapiro Capital Management LLC boosted its holdings in shares of EVO Payments by 108.8% during the 1st quarter. Shapiro Capital Management LLC now owns 1,169,969 shares of the company’s stock worth $27,015,000 after buying an additional 609,713 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of EVO Payments by 17.4% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,546,199 shares of the company’s stock worth $90,783,000 after buying an additional 526,837 shares in the last quarter. Victory Capital Management Inc. bought a new position in shares of EVO Payments during the 2nd quarter worth approximately $11,803,000. Finally, Bank of America Corp DE boosted its holdings in shares of EVO Payments by 26.6% during the 4th quarter. Bank of America Corp DE now owns 1,684,376 shares of the company’s stock worth $43,119,000 after buying an additional 353,563 shares in the last quarter. Institutional investors and hedge funds own 91.84% of the company’s stock.

About EVO Payments

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EVO Payments, Inc operates as an integrated merchant acquirer and payment processor in the Americas and Europe. Its payment and commerce solutions consist of EMV, chip and signature enabled POS terminals, virtual POS terminals for desktops, mobile acceptance and mPOS solutions software-based POS solutions, online hosted payments, and integrated payment service provider.