Evolving Systems Inc (EVOL) Receives Average Rating of “Strong Buy” from Analysts
Shares of Evolving Systems Inc (NASDAQ:EVOL) have received a consensus broker rating score of 1.00 (Strong Buy) from the one analysts that provide coverage for the stock, Zacks Investment Research reports. One research analyst has rated the stock with a strong buy recommendation.
Brokers have set a 12-month consensus price target of $7.00 for the company, according to Zacks. Zacks has also assigned Evolving Systems an industry rank of 72 out of 265 based on the ratings given to its competitors.
Evolving Systems (EVOL) traded down 3.77% on Friday, reaching $5.10. 8,879 shares of the company’s stock traded hands. The firm has a market capitalization of $63.62 million, a PE ratio of 15.45 and a beta of -0.09. Evolving Systems has a 52-week low of $3.10 and a 52-week high of $5.70. The firm’s 50 day moving average price is $5.12 and its 200 day moving average price is $4.54.
Evolving Systems (NASDAQ:EVOL) last posted its quarterly earnings results on Tuesday, March 28th. The technology company reported $0.12 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.08 by $0.04. The business had revenue of $6.12 million during the quarter. Evolving Systems had a net margin of 12.57% and a return on equity of 15.94%. On average, analysts predict that Evolving Systems will post $0.26 EPS for the current fiscal year.
A number of large investors have recently modified their holdings of EVOL. Kokino LLC purchased a new stake in shares of Evolving Systems during the first quarter valued at approximately $2,127,000. National Asset Management Inc. increased its stake in shares of Evolving Systems by 109.5% in the third quarter. National Asset Management Inc. now owns 75,000 shares of the technology company’s stock valued at $327,000 after buying an additional 39,202 shares during the last quarter. GRT Capital Partners L.L.C. purchased a new stake in shares of Evolving Systems during the fourth quarter valued at approximately $128,000. Renaissance Technologies LLC increased its stake in shares of Evolving Systems by 6.5% in the fourth quarter. Renaissance Technologies LLC now owns 493,099 shares of the technology company’s stock valued at $2,022,000 after buying an additional 30,200 shares during the last quarter. Finally, Perritt Capital Management Inc. increased its stake in shares of Evolving Systems by 7.4% in the fourth quarter. Perritt Capital Management Inc. now owns 153,733 shares of the technology company’s stock valued at $630,000 after buying an additional 10,600 shares during the last quarter. 22.81% of the stock is owned by hedge funds and other institutional investors.
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About Evolving Systems
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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