EVO Payments (NASDAQ:EVOP) Downgraded by Northcoast Research to “Neutral”

Northcoast Research downgraded shares of EVO Payments (NASDAQ:EVOPGet Rating) from a buy rating to a neutral rating in a report released on Tuesday, The Fly reports.

Separately, William Blair lowered shares of EVO Payments from an outperform rating to a market perform rating in a research report on Tuesday. Three research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of Hold and an average price target of $30.33.

EVO Payments Stock Performance

Shares of NASDAQ EVOP opened at $33.51 on Tuesday. The firm has a market capitalization of $2.81 billion, a P/E ratio of 1,117.37, a PEG ratio of 1.39 and a beta of 1.40. EVO Payments has a one year low of $20.07 and a one year high of $33.86. The company’s fifty day moving average is $24.30 and its two-hundred day moving average is $23.59.

EVO Payments (NASDAQ:EVOPGet Rating) last issued its earnings results on Monday, August 1st. The company reported $0.30 EPS for the quarter, topping the consensus estimate of $0.27 by $0.03. The company had revenue of $137.70 million for the quarter, compared to analyst estimates of $138.59 million. EVO Payments had a net margin of 2.33% and a negative return on equity of 11.72%. The business’s revenue was up 12.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.21 EPS. On average, sell-side analysts forecast that EVO Payments will post 1.06 earnings per share for the current fiscal year.

Institutional Investors Weigh In On EVO Payments

Several institutional investors and hedge funds have recently made changes to their positions in EVOP. Eagle Asset Management Inc. purchased a new stake in shares of EVO Payments in the 1st quarter worth about $28,300,000. Shapiro Capital Management LLC boosted its position in shares of EVO Payments by 108.8% in 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 raised its stake in EVO Payments by 17.4% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,546,199 shares of the company’s stock valued at $90,783,000 after purchasing an additional 526,837 shares during the last quarter. Victory Capital Management Inc. acquired a new position in EVO Payments in the 2nd quarter valued at about $11,803,000. Finally, Bank of America Corp DE raised its stake in EVO Payments by 26.6% in the 4th quarter. Bank of America Corp DE now owns 1,684,376 shares of the company’s stock valued at $43,119,000 after purchasing an additional 353,563 shares during the last quarter. 91.84% of the stock is currently owned by hedge funds and other institutional investors.

EVO Payments Company Profile

(Get Rating)

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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