EVO Payments (EVOP) Shares Rose by 42% in Q3

TimesSquare Capital Management, an equity investment management company, released its “U.S. Small Cap Growth Strategy” third-quarter investor letter. A copy of the same can be downloaded here. In the third quarter, the strategy outperformed the Russell 2000 Growth Index and returned 3.28% (net), and the index return was 0.24%. Strength in Industrials, Consumer Staples, Consumer Discretionary, and Information Technology sectors contributed to the strategy’s outperformance in the quarter. In addition, please check the fund’s top five holdings to know its best picks in 2022.

TimesSquare Capital highlighted stocks like EVO Payments, Inc. (NASDAQ:EVOP) in its Q3 2022 investor letter. Headquartered in Atlanta, Georgia, EVO Payments, Inc. (NASDAQ:EVOP) is a merchant acquirer and payment, processor operator. On December 19, 2022, EVO Payments, Inc. (NASDAQ:EVOP) stock closed at $33.73 per share. One-month return of EVO Payments, Inc. (NASDAQ:EVOP) was 0.12%, and its shares gained 41.19% of their value over the last 52 weeks. EVO Payments, Inc. (NASDAQ:EVOP) has a market capitalization of $2.968 billion.

TimesSquare Capital made the following comment about EVO Payments, Inc. (NASDAQ:EVOP) in its Q3 2022 investor letter:

“A final area of strength was the Information Technology sector. Another acquisition target was EVO Payments, Inc. (NASDAQ:EVOP). This international merchant acquirer & payment software provider agreed to be acquired by a larger firm in that industry, and its shares rose by 42%.”

EVO Payments, Inc. (NASDAQ:EVOP) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 26 hedge fund portfolios held EVO Payments, Inc. (NASDAQ:EVOP) at the end of the third quarter, which was 10 in the previous quarter.

We discussed EVO Payments, Inc. (NASDAQ:EVOP) in another article and shared the stock picks of Joe Milano’s Greenhouse Funds. In addition, please check out our hedge fund investor letters Q3 2022 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.