EVO Payments (NASDAQ:EVOP) Stock Rating Lowered by Truist Financial

EVO Payments (NASDAQ:EVOP – Get Rating) was downgraded by equities research analysts at Truist Financial from a “buy” rating to a “hold” rating in a report issued on Tuesday, The Fly reports. They currently have a $34.00 price objective on the stock, up from their previous price objective of $32.00. Truist Financial’s price objective suggests a potential upside of 1.74% from the stock’s current price.

Other equities research analysts have also issued reports about the company. William Blair lowered EVO Payments from an “outperform” rating to a “market perform” rating in a research note on Tuesday. Northcoast Research lowered EVO Payments from a “buy” rating to a “neutral” rating in a research note on Tuesday. Three investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, EVO Payments has a consensus rating of “Hold” and a consensus target price of $30.33.

EVO Payments Trading Down 0.3 %

EVOP stock opened at $33.42 on Tuesday. EVO Payments has a 1-year low of $20.07 and a 1-year high of $33.86. The firm has a market cap of $2.80 billion, a P/E ratio of 668.53, a P/E/G ratio of 1.71 and a beta of 1.40. The business’s 50 day moving average is $24.51 and its 200-day moving average is $23.66.

EVO Payments (NASDAQ:EVOP – Get Rating) last released its quarterly earnings data on Monday, August 1st. The company reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.03. EVO Payments had a negative return on equity of 13.52% and a net margin of 2.49%. The company had revenue of $137.70 million for the quarter, compared to analyst estimates of $138.59 million. During the same period in the prior year, the company posted $0.21 EPS. The company’s revenue was up 12.7% compared to the same quarter last year. Sell-side analysts forecast that EVO Payments will post 1.06 EPS for the current year.

Insider Transactions at EVO Payments

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

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of EVOP. ACG Wealth acquired a new position in EVO Payments during the 2nd quarter worth $149,000. Advisor Group Holdings Inc. lifted its holdings in EVO Payments by 41.6% during the 4th quarter. Advisor Group Holdings Inc. now owns 6,750 shares of the company’s stock worth $173,000 after buying an additional 1,983 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its holdings in EVO Payments by 8.5% during the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 8,178 shares of the company’s stock worth $189,000 after buying an additional 642 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in EVO Payments by 7.6% during the 1st quarter. Principal Financial Group Inc. now owns 8,674 shares of the company’s stock worth $200,000 after buying an additional 616 shares in the last quarter. Finally, Wilbanks Smith & Thomas Asset Management LLC acquired a new position in EVO Payments during the 2nd quarter worth $202,000. Institutional investors and hedge funds own 91.84% of the company’s stock.

EVO Payments Company Profile

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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.

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