Select Equity Group L.P. Purchases 24,064 Shares of EVO Payments, Inc. (NASDAQ:EVOP)

Select Equity Group L.P. boosted its stake in shares of EVO Payments, Inc. (NASDAQ:EVOP) by 157.5% during the 1st quarter, Holdings Channel.com reports. The firm owned 39,342 shares of the company’s stock after buying an additional 24,064 shares during the quarter. Select Equity Group L.P.’s holdings in EVO Payments were worth $1,083,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in EVOP. Rhumbline Advisers lifted its position in EVO Payments by 6.5% during the fourth quarter. Rhumbline Advisers now owns 50,419 shares of the company’s stock valued at $1,362,000 after purchasing an additional 3,085 shares in the last quarter. Northern Trust Corp lifted its position in EVO Payments by 0.6% during the fourth quarter. Northern Trust Corp now owns 534,344 shares of the company’s stock valued at $14,433,000 after purchasing an additional 3,294 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its position in EVO Payments by 56.2% during the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 66,700 shares of the company’s stock valued at $1,802,000 after purchasing an additional 24,000 shares in the last quarter. Credit Suisse AG lifted its position in EVO Payments by 30.6% during the fourth quarter. Credit Suisse AG now owns 199,381 shares of the company’s stock valued at $5,385,000 after purchasing an additional 46,674 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its position in EVO Payments by 2.6% during the fourth quarter. The Manufacturers Life Insurance Company now owns 25,405 shares of the company’s stock valued at $686,000 after purchasing an additional 651 shares in the last quarter. Institutional investors own 57.34% of the company’s stock.

Shares of EVO Payments stock traded up $0.73 during trading hours on Thursday, hitting $29.39. The company’s stock had a trading volume of 101,974 shares, compared to its average volume of 191,360. The stock has a 50 day moving average price of $28.76. EVO Payments, Inc. has a 12-month low of $20.45 and a 12-month high of $31.99. The firm has a market cap of $2.44 billion, a P/E ratio of 46.98, a PEG ratio of 1.64 and a beta of 1.75.

EVO Payments (NASDAQ:EVOP) last announced its quarterly earnings data on Thursday, May 6th. The company reported $0.13 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.13. EVO Payments had a negative return on equity of 6.89% and a net margin of 0.53%. The business had revenue of $106.20 million for the quarter, compared to the consensus estimate of $105.63 million. During the same period in the previous year, the business earned ($0.12) earnings per share. The business’s revenue was down 4.5% on a year-over-year basis. As a group, analysts anticipate that EVO Payments, Inc. will post 0.77 EPS for the current fiscal year.

EVOP has been the topic of several analyst reports. Zacks Investment Research upgraded EVO Payments from a “sell” rating to a “hold” rating in a research report on Friday, May 7th. Barclays boosted their price objective on EVO Payments from $28.00 to $30.00 and gave the company an “equal weight” rating in a research report on Monday, May 10th. Finally, BTIG Research restated a “buy” rating and issued a $33.00 price objective (up from $30.00) on shares of EVO Payments in a research report on Thursday, May 6th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. EVO Payments currently has a consensus rating of “Buy” and an average price target of $32.20.

In related news, EVP Groot Steven J. De sold 2,000 shares of the business’s stock in a transaction dated Thursday, July 1st. The stock was sold at an average price of $28.00, for a total value of $56,000.00. Following the sale, the executive vice president now directly owns 68,221 shares in the company, valued at $1,910,188. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Groot Steven J. De sold 1,721 shares of the business’s stock in a transaction dated Wednesday, June 16th. The stock was sold at an average price of $29.22, for a total value of $50,287.62. Following the completion of the sale, the executive vice president now owns 70,221 shares in the company, valued at $2,051,857.62. The disclosure for this sale can be found here. Insiders sold 87,467 shares of company stock worth $2,494,897 over the last quarter. 42.60% of the stock is owned by company insiders.

About EVO Payments

EVO Payments, Inc operates as an integrated merchant acquirer and payment processor in the Americas and Europe. Its payment and commerce solutions consist of gateway solutions, online fraud prevention and management reporting, online hosted payments page capabilities, cellphone-based SMS integrated payment collection services, security tokenization and encryption solutions at the point-of-sale, dynamic currency conversion, ACH, loyalty offers, and other ancillary solutions.

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Institutional Ownership by Quarter for EVO Payments (NASDAQ:EVOP)

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