Select Equity Group L.P. cut its holdings in EVO Payments Inc (NASDAQ:EVOP) by 62.9% during the third quarter, Holdings Channel.com reports. The fund owned 168,922 shares of the company’s stock after selling 285,893 shares during the period. Select Equity Group L.P.’s holdings in EVO Payments were worth $4,750,000 at the end of the most recent quarter.
A number of other hedge funds have also made changes to their positions in the business. US Bancorp DE boosted its stake in EVO Payments by 22.3% in the second quarter. US Bancorp DE now owns 2,321 shares of the company’s stock valued at $73,000 after acquiring an additional 423 shares during the last quarter. LPL Financial LLC boosted its stake in EVO Payments by 25.2% in the second quarter. LPL Financial LLC now owns 9,935 shares of the company’s stock valued at $299,000 after acquiring an additional 2,001 shares during the last quarter. Great Lakes Advisors LLC boosted its stake in EVO Payments by 1.4% in the third quarter. Great Lakes Advisors LLC now owns 154,510 shares of the company’s stock valued at $4,345,000 after acquiring an additional 2,169 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in EVO Payments in the second quarter valued at approximately $75,000. Finally, Bank of Montreal Can bought a new position in EVO Payments in the second quarter valued at approximately $82,000. 48.20% of the stock is currently owned by hedge funds and other institutional investors.
In related news, EVP Groot Steven J. De sold 20,000 shares of the firm’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $28.69, for a total transaction of $573,800.00. Also, insider Darren Wilson sold 4,000 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $29.30, for a total transaction of $117,200.00. Following the sale, the insider now owns 103,976 shares in the company, valued at $3,046,496.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 38,000 shares of company stock worth $1,081,900. Insiders own 61.16% of the company’s stock.
EVO Payments (NASDAQ:EVOP) last announced its quarterly earnings results on Thursday, November 7th. The company reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.03. The company had revenue of $152.60 million for the quarter, compared to analysts’ expectations of $146.83 million. EVO Payments had a negative net margin of 2.11% and a negative return on equity of 5.02%. The business’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same period last year, the firm posted $0.17 earnings per share. Equities research analysts anticipate that EVO Payments Inc will post 0.55 earnings per share for the current year.
A number of equities analysts have issued reports on EVOP shares. Wells Fargo & Co started coverage on shares of EVO Payments in a research note on Monday, October 21st. They issued an “outperform” rating and a $32.00 price objective on the stock. ValuEngine cut shares of EVO Payments from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Zacks Investment Research cut shares of EVO Payments from a “buy” rating to a “hold” rating in a research report on Thursday, October 17th. Finally, BTIG Research reissued a “hold” rating on shares of EVO Payments in a research report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company’s stock. EVO Payments currently has a consensus rating of “Hold” and an average target price of $28.81.
EVO Payments Profile
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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