Jennison Associates LLC Has $35.56 Million Stake in EVO Payments Inc (EVOP)
Jennison Associates LLC grew its position in EVO Payments Inc (NASDAQ:EVOP) by 0.2% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 1,487,807 shares of the company’s stock after purchasing an additional 2,317 shares during the quarter. Jennison Associates LLC’s holdings in EVO Payments were worth $35,559,000 at the end of the most recent reporting period.
Other large investors have also recently modified their holdings of the company. Strs Ohio acquired a new position in shares of EVO Payments in the 3rd quarter valued at approximately $112,000. Frontier Capital Management Co. LLC acquired a new position in shares of EVO Payments in the 2nd quarter valued at approximately $150,000. California Public Employees Retirement System acquired a new position in shares of EVO Payments in the 2nd quarter valued at approximately $206,000. Chicago Capital LLC acquired a new position in shares of EVO Payments in the 3rd quarter valued at approximately $239,000. Finally, Rhumbline Advisers acquired a new position in shares of EVO Payments in the 3rd quarter valued at approximately $273,000. Institutional investors own 29.17% of the company’s stock.
A number of research firms recently issued reports on EVOP. Buckingham Research began coverage on shares of EVO Payments in a research report on Wednesday, August 29th. They set a “neutral” rating and a $24.00 price objective for the company. Citigroup lowered their price objective on shares of EVO Payments from $23.00 to $22.00 and set a “neutral” rating for the company in a research report on Thursday, August 9th. SunTrust Banks upped their price objective on shares of EVO Payments to $32.00 and gave the stock a “buy” rating in a research report on Thursday, November 8th. Finally, Barclays began coverage on shares of EVO Payments in a research report on Wednesday, November 14th. They set an “equal weight” rating and a $29.00 price objective for the company. Seven analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $24.89.
EVO Payments (NASDAQ:EVOP) last released its quarterly earnings data on Wednesday, November 7th. The company reported $0.06 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.14 by ($0.08). The company had revenue of $144.76 million for the quarter, compared to analyst estimates of $142.24 million. On average, research analysts expect that EVO Payments Inc will post 0.52 earnings per share for the current fiscal year.
EVO Payments Company Profile
EVO Payments, Inc operates as an integrated merchant acquirer and payment processor servicing approximately 525,000 merchants. The company processes approximately 900 million transactions in North America and approximately 1.7 billion transactions in Europe. Its payment and commerce solutions consist of gateway solutions, online fraud prevention and management reporting, online hosted payments page capabilities, security tokenization, and encryption solutions at the point-of-sale and online; dynamic currency conversion; loyalty offers; and other ancillary solutions.
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