Evolving Systems Inc. (NASDAQ:EVOL) hit a new 52-week low during mid-day trading on Monday . The company traded as low as $4.02 and last traded at $4.02, with a volume of 62,968 shares. The stock had previously closed at $4.04.

A number of equities research analysts recently issued reports on the company. Zacks Investment Research raised Evolving Systems from a “hold” rating to a “buy” rating and set a $6.00 price target on the stock in a research report on Tuesday, May 17th. Maxim Group upped their target price on Evolving Systems from $8.00 to $10.00 and gave the stock a “buy” rating in a research note on Wednesday, May 4th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $7.75.

The company’s 50-day moving average price is $4.70 and its 200 day moving average price is $5.24. The stock has a market capitalization of $47.10 million and a P/E ratio of 16.62.

In other news, Director Julian D. Singer acquired 19,900 shares of the stock in a transaction dated Tuesday, August 16th. The stock was purchased at an average cost of $4.20 per share, with a total value of $83,580.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Julian D. Singer acquired 8,982 shares of the stock in a transaction dated Wednesday, August 10th. The shares were purchased at an average cost of $4.12 per share, with a total value of $37,005.84. 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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