Michael L. Reidenbach Sells 42,000 Shares of EVO Payments, Inc. (NASDAQ:EVOP) Stock

EVO Payments, Inc. (NASDAQ:EVOPGet Rating) EVP Michael L. Reidenbach sold 42,000 shares of the firm’s stock in a transaction on Monday, August 1st. The stock was 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 in the company, valued at approximately $1,488,596.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

EVO Payments Stock Performance

Shares of NASDAQ:EVOP opened at $33.44 on Friday. EVO Payments, Inc. has a 52 week low of $20.07 and a 52 week high of $33.86. The company’s fifty day moving average is $24.72 and its 200-day moving average is $23.73. The company has a market capitalization of $2.80 billion, a PE ratio of 668.93, a P/E/G ratio of 1.70 and a beta of 1.40.

EVO Payments (NASDAQ:EVOPGet Rating) last issued its earnings results on Monday, August 1st. The company reported $0.30 EPS for the quarter, beating 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 company had revenue of $137.70 million for the quarter, compared to the consensus estimate of $138.59 million. During the same quarter in the previous year, the company earned $0.21 EPS. The firm’s revenue for the quarter was up 12.7% compared to the same quarter last year. On average, analysts forecast that EVO Payments, Inc. will post 1.06 EPS for the current year.

Institutional Investors Weigh In On EVO Payments

Several institutional investors and hedge funds have recently made changes to their positions in the company. Principal Financial Group Inc. boosted its stake in shares of EVO Payments by 7.6% in the 1st quarter. Principal Financial Group Inc. now owns 8,674 shares of the company’s stock valued at $200,000 after purchasing an additional 616 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its holdings in shares of EVO Payments by 8.5% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 8,178 shares of the company’s stock valued at $189,000 after buying an additional 642 shares during the last quarter. Teacher Retirement System of Texas raised its holdings in shares of EVO Payments by 8.8% in the first quarter. Teacher Retirement System of Texas now owns 9,864 shares of the company’s stock valued at $228,000 after buying an additional 797 shares during the last quarter. New York State Common Retirement Fund raised its holdings in shares of EVO Payments by 3.2% in the first quarter. New York State Common Retirement Fund now owns 34,553 shares of the company’s stock valued at $798,000 after buying an additional 1,076 shares during the last quarter. Finally, Rhumbline Advisers raised its holdings in shares of EVO Payments by 2.4% in the fourth quarter. Rhumbline Advisers now owns 50,922 shares of the company’s stock valued at $1,304,000 after buying an additional 1,182 shares during the last quarter. Institutional investors and hedge funds own 91.84% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on EVOP shares. Northcoast Research downgraded shares of EVO Payments from a “buy” rating to a “neutral” rating in a research note on Tuesday. Truist Financial downgraded shares of EVO Payments from a “buy” rating to a “hold” rating and lifted their price target for the stock from $32.00 to $34.00 in a research note on Tuesday. Finally, William Blair downgraded shares of EVO Payments from an “outperform” rating to a “market perform” rating in a research note on Tuesday. Three research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, EVO Payments has an average rating of “Hold” and a consensus target price of $30.33.

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.

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