Analysts Set Evertec, Inc. (NYSE:EVTC) Target Price at $35.80

Shares of Evertec, Inc. (NYSE:EVTC) have been given an average recommendation of “Hold” by the seven brokerages that are currently covering the company, MarketBeat reports. Five research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $35.80.

Several research firms have issued reports on EVTC. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Evertec in a report on Friday. Zacks Research cut Evertec from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 20th. Finally, Wall Street Zen raised Evertec from a “hold” rating to a “buy” rating in a research report on Saturday, February 28th.

Institutional Investors Weigh In On Evertec

Several hedge funds have recently made changes to their positions in EVTC. Richardson Financial Services Inc. increased its stake in shares of Evertec by 132.6% in 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. Kestra Advisory Services LLC acquired a new stake in Evertec during the fourth quarter valued at $31,000. Hantz Financial Services Inc. grew its stake in Evertec by 189.7% in the fourth quarter. Hantz Financial Services Inc. now owns 1,072 shares of the business services provider’s stock valued at $31,000 after purchasing an additional 702 shares in the last quarter. Clearstead Advisors LLC grew its stake in Evertec by 194.5% in the fourth quarter. Clearstead Advisors LLC now owns 1,240 shares of the business services provider’s stock valued at $36,000 after purchasing an additional 819 shares in the last quarter. Finally, Global Retirement Partners LLC increased its position in Evertec by 53.1% in the 4th quarter. Global Retirement Partners LLC now owns 1,471 shares of the business services provider’s stock worth $43,000 after purchasing an additional 510 shares during the last quarter. Hedge funds and other institutional investors own 96.80% of the company’s stock.

Evertec Stock Performance

NYSE:EVTC opened at $27.91 on Tuesday. The company has a 50-day moving average of $28.06 and a 200-day moving average of $29.49. The firm has a market cap of $1.72 billion, a price-to-earnings ratio of 12.75, a price-to-earnings-growth ratio of 1.04 and a beta of 0.85. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 1.69. Evertec has a twelve month low of $24.95 and a twelve month high of $38.56.

Evertec (NYSE:EVTC) last released its earnings results on Tuesday, March 3rd. The business services provider reported $0.93 EPS for the quarter, beating the consensus estimate of $0.91 by $0.02. The business had revenue of $244.83 million during the quarter, compared to analyst estimates of $236.83 million. Evertec had a net margin of 15.19% and a return on equity of 33.27%. The business’s quarterly revenue was up 13.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.87 earnings per share. Analysts forecast that Evertec will post 2.63 earnings per share for the current fiscal year.

Evertec Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 6th. Stockholders of record on Monday, March 2nd were given a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend was Monday, March 2nd. Evertec’s dividend payout ratio (DPR) is 9.13%.

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.