Evertec, Inc. (NYSE:EVTC) Receives Average Recommendation of “Hold” from Brokerages

Shares of Evertec, Inc. (NYSE:EVTC) have received a consensus recommendation of “Hold” from the eight ratings firms that are covering the firm, MarketBeat reports. Five research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $35.80.

Several research analysts have commented on EVTC shares. Zacks Research downgraded shares of Evertec from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 20th. Morgan Stanley cut their price target on Evertec from $34.00 to $29.00 and set an “equal weight” rating for the company in a report on Wednesday, November 12th. Wall Street Zen downgraded Evertec from a “buy” rating to a “hold” rating in a research note on Friday, January 23rd. Susquehanna lowered their target price on Evertec from $37.00 to $32.00 and set a “neutral” rating for the company in a research report on Friday, November 7th. Finally, Keefe, Bruyette & Woods reduced their price target on shares of Evertec from $44.00 to $40.00 and set an “outperform” rating on the stock in a research report on Monday, November 10th.

Institutional Trading of Evertec

Several hedge funds have recently made changes to their positions in the business. Richardson Financial Services Inc. increased its stake in Evertec by 132.6% during the third quarter. Richardson Financial Services Inc. now owns 763 shares of the business services provider’s stock worth $26,000 after acquiring an additional 435 shares during the last quarter. Global Retirement Partners LLC increased its position in shares of Evertec by 53.1% during the 4th quarter. Global Retirement Partners LLC now owns 1,471 shares of the business services provider’s stock valued at $43,000 after purchasing an additional 510 shares during the last quarter. Parkside Financial Bank & Trust raised its holdings in Evertec by 479.1% during the 2nd quarter. Parkside Financial Bank & Trust now owns 1,355 shares of the business services provider’s stock valued at $49,000 after buying an additional 1,121 shares during the period. Brown Brothers Harriman & Co. bought a new stake in Evertec in the third quarter worth $52,000. Finally, Advisory Services Network LLC purchased a new position in Evertec during the third quarter worth $59,000. 96.80% of the stock is currently owned by hedge funds and other institutional investors.

Evertec Price Performance

EVTC stock opened at $27.09 on Monday. The company has a debt-to-equity ratio of 1.59, a quick ratio of 2.91 and a current ratio of 2.91. The company’s fifty day moving average price is $29.36 and its 200-day moving average price is $31.40. Evertec has a one year low of $26.72 and a one year high of $38.56. The company has a market capitalization of $1.73 billion, a PE ratio of 12.04, a price-to-earnings-growth ratio of 1.03 and a beta of 0.86.

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.