Evertec (NYSE:EVTC) Shares Gap Down – What’s Next?

Evertec, Inc. (NYSE:EVTC)’s share price gapped down before the market opened on Wednesday . The stock had previously closed at $30.21, but opened at $28.39. Evertec shares last traded at $28.5850, with a volume of 4,901 shares changing hands.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Evertec in a research note on Monday, December 29th. Zacks Research cut shares of Evertec from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 20th. Morgan Stanley lowered their price objective on Evertec from $34.00 to $29.00 and set an “equal weight” rating for the company in a research note on Wednesday, November 12th. Keefe, Bruyette & Woods dropped their price target on shares of Evertec from $44.00 to $40.00 and set an “outperform” rating for the company in a research note on Monday, November 10th. Finally, Susquehanna reduced their target price on Evertec from $37.00 to $32.00 and set a “neutral” rating on the stock in a research note on Friday, November 7th. Three equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $35.80.

Evertec Trading Down 1.1%

The company has a market capitalization of $1.80 billion, a PE ratio of 12.52, a price-to-earnings-growth ratio of 1.15 and a beta of 0.86. The company has a debt-to-equity ratio of 1.59, a current ratio of 2.91 and a quick ratio of 2.91. The company’s fifty day moving average is $29.45 and its 200-day moving average is $31.53.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in EVTC. American Century Companies Inc. boosted its holdings in Evertec by 1.0% in the second quarter. American Century Companies Inc. now owns 4,558,374 shares of the business services provider’s stock worth $164,329,000 after acquiring an additional 46,147 shares in the last quarter. Banco Bilbao Vizcaya Argentaria S.A. raised its position in shares of Evertec by 31.1% in the 2nd quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 16,825 shares of the business services provider’s stock valued at $605,000 after purchasing an additional 3,991 shares during the last quarter. Clifford Capital Partners LLC boosted its stake in Evertec by 3.0% in the 2nd quarter. Clifford Capital Partners LLC now owns 435,431 shares of the business services provider’s stock worth $15,697,000 after purchasing an additional 12,880 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in Evertec during the 2nd quarter worth approximately $879,000. Finally, Willis Investment Counsel increased its stake in Evertec by 63.2% during the 2nd quarter. Willis Investment Counsel now owns 62,033 shares of the business services provider’s stock valued at $2,236,000 after purchasing an additional 24,011 shares in the last quarter. 96.80% of the stock is currently owned by hedge funds and other institutional investors.

Evertec Company Profile

Evertec, Inc (NYSE: EVTC) is a leading full‐service transaction processor in Puerto Rico, Latin America and the Caribbean. The company delivers integrated technology solutions for electronic payments, providing financial institutions, merchants and governments with secure and scalable platforms to accept, process and settle transactions across card, ATM, debit and digital channels. Headquartered in San Juan, Puerto Rico, Evertec supports both domestic and cross‐border payment flows, enabling clients to streamline operations and expand their digital commerce capabilities.

Evertec’s suite of services includes merchant acquiring, payment gateway connectivity, ATM and point‐of‐sale network management, and fraud prevention solutions.