Compass Point Initiates Coverage on EVO Payments (NASDAQ:EVOP)

Compass Point began coverage on shares of EVO Payments (NASDAQ:EVOP) in a report released on Thursday, Benzinga reports. The brokerage issued a neutral rating and a $28.00 price objective on the stock.

A number of other analysts also recently weighed in on EVOP. BTIG Research reiterated a hold rating on shares of EVO Payments in a research report on Thursday, August 8th. Wells Fargo & Co began coverage on shares of EVO Payments in a report on Monday, October 21st. They set an outperform rating and a $32.00 price objective for the company. Finally, Zacks Investment Research cut shares of EVO Payments from a buy rating to a hold rating in a report on Thursday, October 17th. One analyst has rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average price target of $28.68.

NASDAQ EVOP traded down $0.11 on Thursday, reaching $27.30. The company had a trading volume of 426,374 shares, compared to its average volume of 367,698. EVO Payments has a 52 week low of $21.81 and a 52 week high of $31.93. The stock’s 50 day moving average is $28.08 and its 200-day moving average is $28.98. The stock has a market cap of $2.24 billion, a price-to-earnings ratio of -18.45, a PEG ratio of 3.56 and a beta of 0.59.

EVO Payments (NASDAQ:EVOP) last issued its earnings results on Thursday, November 7th. The company reported $0.19 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.16 by $0.03. The firm had revenue of $152.60 million for the quarter, compared to analysts’ expectations of $146.83 million. EVO Payments had a negative return on equity of 5.02% and a negative net margin of 2.11%. The company’s revenue was up 5.4% compared to the same quarter last year. During the same quarter last year, the business earned $0.17 earnings per share. As a group, equities research analysts predict that EVO Payments will post 0.55 earnings per share for the current fiscal year.

In other EVO Payments news, EVP Michael L. Reidenbach sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $27.80, for a total transaction of $55,600.00. Also, EVP Groot Steven J. De sold 20,000 shares of EVO Payments stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $28.69, for a total transaction of $573,800.00. Over the last quarter, insiders have sold 38,000 shares of company stock worth $1,072,520. Corporate insiders own 61.16% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the company. US Bancorp DE raised its position in EVO Payments by 22.3% in the 2nd quarter. US Bancorp DE now owns 2,321 shares of the company’s stock valued at $73,000 after buying an additional 423 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in EVO Payments during the 2nd quarter worth about $75,000. Bank of Montreal Can bought a new stake in EVO Payments during the 2nd quarter worth about $82,000. Tower Research Capital LLC TRC lifted its position in EVO Payments by 3,186.0% during the 3rd quarter. Tower Research Capital LLC TRC now owns 4,469 shares of the company’s stock worth $126,000 after buying an additional 4,333 shares in the last quarter. Finally, HighTower Advisors LLC acquired a new position in shares of EVO Payments during the 2nd quarter worth about $224,000. Institutional investors own 48.20% 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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