Shares of Evolving Systems Inc (NASDAQ:EVOL) have been assigned an average broker rating score of 1.00 (Strong Buy) from the one brokers that provide coverage for the stock, Zacks Investment Research reports. One equities research analyst has rated the stock with a strong buy recommendation.
Analysts have set a one year consensus price objective of $7.00 for the company, according to Zacks. Zacks has also given Evolving Systems an industry rank of 43 out of 265 based on the ratings given to its competitors.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Susquehanna International Group LLP lifted its holdings in Evolving Systems by 61.6% during the 3rd quarter. Susquehanna International Group LLP now owns 31,496 shares of the technology company’s stock valued at $152,000 after buying an additional 12,006 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Evolving Systems by 28.8% during the 3rd quarter. Dimensional Fund Advisors LP now owns 120,797 shares of the technology company’s stock valued at $586,000 after buying an additional 27,008 shares in the last quarter. Lapides Asset Management LLC raised its holdings in shares of Evolving Systems by 11.4% in the 3rd quarter. Lapides Asset Management LLC now owns 442,600 shares of the technology company’s stock valued at $2,147,000 after purchasing an additional 45,400 shares in the last quarter. Renaissance Technologies LLC raised its holdings in shares of Evolving Systems by 3.1% in the 1st quarter. Renaissance Technologies LLC now owns 508,449 shares of the technology company’s stock valued at $2,466,000 after purchasing an additional 15,350 shares in the last quarter. Finally, Kokino LLC raised its holdings in shares of Evolving Systems by 90.2% in the 2nd quarter. Kokino LLC now owns 834,226 shares of the technology company’s stock valued at $4,296,000 after purchasing an additional 395,612 shares in the last quarter. Institutional investors own 34.37% of the company’s stock.
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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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