Evolving Systems Inc. (NASDAQ:EVOL) was up 1.1% on Tuesday . The stock traded as high as $5.50 and last traded at $5.30, with a volume of 55,772 shares traded. The stock had previously closed at $5.24.

Several equities research analysts recently weighed in on EVOL shares. Zacks Investment Research cut shares of Evolving Systems from a “hold” rating to a “sell” rating in a research report on Tuesday, May 3rd. Maxim Group boosted their price objective on shares of Evolving Systems from $8.00 to $10.00 and gave the company a “buy” rating in a research report on Wednesday, May 4th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $7.75.

The firm’s 50-day moving average price is $5.21 and its 200-day moving average price is $5.38. The stock has a market cap of $62.53 million and a price-to-earnings ratio of 21.72.

An institutional investor recently raised its position in Evolving Systems stock. Lapides Asset Management LLC raised its position in shares of Evolving Systems Inc. (NASDAQ:EVOL) by 18.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 310,600 shares of the company’s stock after buying an additional 47,600 shares during the period. Lapides Asset Management LLC owned 2.65% of Evolving Systems worth $1,708,000 at the end of the most recent quarter.

Evolving Systems, Inc is a provider of software solutions for service enablement, on-device activation and management of services for connected devices for network operators. The Company operates in two segments: license fees and services revenue, and customer support revenue. Its service activation solution, Tertio is used to activate voice, video and data services for wireless, wireline and cable network operators.

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