Evolving Systems Inc. (NASDAQ:EVOL) fell 2.8% during mid-day trading on Tuesday . The stock traded as low as $3.86 and last traded at $3.88, with a volume of 93,857 shares. The stock had previously closed at $3.99.

Several brokerages have issued reports on EVOL. Zacks Investment Research raised Evolving Systems from a “hold” rating to a “buy” rating and set a $6.00 price target for the company in a research note on Tuesday, May 17th. Maxim Group lifted their price objective on Evolving Systems from $8.00 to $10.00 and gave the stock a “buy” rating in a report on Wednesday, May 4th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $7.75.

The company has a 50-day moving average of $4.66 and a 200-day moving average of $5.24. The company has a market cap of $47.46 million and a PE ratio of 16.75.

In other news, CEO Thomas Thekkethala acquired 30,000 shares of Evolving Systems stock in a transaction that occurred on Monday, August 29th. The shares were bought at an average cost of $4.00 per share, with a total value of $120,000.00. Following the transaction, the chief executive officer now directly owns 15,000 shares of the company’s stock, valued at approximately $60,000. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Julian D. Singer acquired 19,900 shares of Evolving Systems stock in a transaction that occurred on Tuesday, August 16th. The stock was purchased at an average cost of $4.20 per share, for a total transaction of $83,580.00. 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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