Evolving Systems Inc. (NASDAQ:EVOL) traded down 2.8% on Tuesday . The company traded as low as $3.86 and last traded at $3.88, with a volume of 93,857 shares changing hands. The stock had previously closed at $3.99.

A number of equities research analysts have weighed in on the company. Zacks Investment Research lowered Evolving Systems from a “buy” rating to a “hold” rating in a report on Tuesday, July 5th. Maxim Group lifted their price objective on Evolving Systems from $8.00 to $10.00 and gave the company a “buy” rating in a report on Wednesday, May 4th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $7.75.

The company has a market capitalization of $48.52 million and a P/E ratio of 17.12. The stock’s 50 day moving average price is $4.60 and its 200-day moving average price is $5.22.

In other Evolving Systems news, Director Julian D. Singer acquired 8,982 shares of the company’s stock in a transaction that occurred on Wednesday, August 10th. The shares were purchased at an average price of $4.12 per share, for a total transaction of $37,005.84. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Thomas Thekkethala acquired 30,000 shares of the company’s stock in a transaction that occurred on Monday, August 29th. The shares were acquired at an average price of $4.00 per share, for a total transaction of $120,000.00. Following the purchase, the chief executive officer now owns 15,000 shares of the company’s stock, valued at $60,000. The disclosure for this purchase can be found here.

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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