Shares of Evolving Systems Inc. (NASDAQ:EVOL) have earned 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 analyst has rated the stock with a strong buy recommendation. Evolving Systems’ rating score has improved by 50% in the last three months as a result of a number of analysts’ upgrades and downgrades.
Analysts have set a one year consensus price objective of $8.00 for the company, according to Zacks. Zacks has also given Evolving Systems an industry rank of 103 out of 265 based on the ratings given to its competitors.
Separately, Zacks Investment Research downgraded Evolving Systems from a “buy” rating to a “hold” rating in a research note on Tuesday, July 5th.
In other news, Director Julian D. Singer bought 54,580 shares of the firm’s stock in a transaction on Tuesday, August 30th. The shares were bought at an average cost of $3.95 per share, for a total transaction of $215,591.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Julian D. Singer bought 19,900 shares of the firm’s stock in a transaction on Tuesday, August 16th. The shares were purchased at an average price of $4.20 per share, for a total transaction of $83,580.00. The disclosure for this purchase can be found here. Company insiders own 8.10% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the company. National Asset Management Inc. boosted its position in Evolving Systems by 17.1% in the second quarter. National Asset Management Inc. now owns 35,798 shares of the company’s stock worth $186,000 after buying an additional 5,223 shares during the period. Investors Capital Advisory Services boosted its position in Evolving Systems by 8.6% in the second quarter. Investors Capital Advisory Services now owns 60,550 shares of the company’s stock worth $313,000 after buying an additional 4,800 shares during the period. Lapides Asset Management LLC boosted its position in Evolving Systems by 1.2% in the second quarter. Lapides Asset Management LLC now owns 291,700 shares of the company’s stock worth $1,508,000 after buying an additional 3,600 shares during the period. Vanguard Group Inc. boosted its position in Evolving Systems by 1.8% in the second quarter. Vanguard Group Inc. now owns 387,893 shares of the company’s stock worth $2,005,000 after buying an additional 6,800 shares during the period. Finally, ZPR Investment Management boosted its position in Evolving Systems by 61.2% in the first quarter. ZPR Investment Management now owns 382,490 shares of the company’s stock worth $2,195,000 after buying an additional 145,267 shares during the period. Institutional investors own 25.25% of the company’s stock.
Evolving Systems (NASDAQ:EVOL) traded down 0.23% during trading on Monday, hitting $4.37. 49,481 shares of the stock traded hands. The company’s 50 day moving average price is $4.22 and its 200 day moving average price is $5.11. The company has a market cap of $51.59 million, a P/E ratio of 18.21 and a beta of 0.13. Evolving Systems has a 12 month low of $3.87 and a 12 month high of $6.49.
Evolving Systems Company Profile
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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