Evertec, Inc. (EVTC) Downgraded by Zacks Investment Research

Zacks Investment Research cut shares of Evertec, Inc. (NYSE:EVTC) from a buy rating to a hold rating in a research report report published on Monday.

According to Zacks, “Evertec, Inc. is engaged in transaction processing business primarily in Latin America and the Caribbean. The Company operates through divisions which consist of Merchant Acquiring Solutions, Payment Processing and Business Solutions. It offers ATH network, payment processing, card products processing, electronic benefit transfer services, information technology services, database management services, printing centre and document mailing, cash processing, business processes outsourcing services as well as payment solutions, point-of-sale systems and accessories to receive payments. Evertec, Inc. is based in San Juan, Puerto Rico. “

Other equities research analysts have also issued reports about the company. ValuEngine raised Evertec from a hold rating to a buy rating in a research note on Monday, October 2nd. Stifel Nicolaus raised Evertec from a hold rating to a buy rating and set a $18.00 price objective for the company in a research note on Thursday, September 28th. Finally, BidaskClub raised Evertec from a sell rating to a hold rating in a research note on Thursday, August 3rd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. The stock presently has an average rating of Hold and a consensus price target of $18.75.

Evertec (NYSE:EVTC) traded up 1.00% during mid-day trading on Monday, reaching $15.20. The company’s stock had a trading volume of 303,851 shares. The firm has a market capitalization of $1.10 billion, a P/E ratio of 14.22 and a beta of 1.20. Evertec has a 52 week low of $14.15 and a 52 week high of $19.52. The firm’s 50 day moving average price is $17.31 and its 200 day moving average price is $16.99.

Evertec (NYSE:EVTC) last released its quarterly earnings data on Tuesday, August 1st. The business services provider reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.02. The business had revenue of $103.51 million during the quarter, compared to analyst estimates of $100.21 million. Evertec had a return on equity of 107.21% and a net margin of 19.64%. The company’s revenue was up 6.0% compared to the same quarter last year. During the same period last year, the company posted $0.43 EPS. On average, analysts anticipate that Evertec will post $1.63 EPS for the current fiscal year.

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A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. DF Dent & Co. Inc. boosted its position in Evertec by 0.7% during the first quarter. DF Dent & Co. Inc. now owns 10,832 shares of the business services provider’s stock valued at $172,000 after purchasing an additional 79 shares during the last quarter. Bessemer Group Inc. boosted its position in Evertec by 0.7% during the second quarter. Bessemer Group Inc. now owns 86,700 shares of the business services provider’s stock valued at $1,500,000 after purchasing an additional 600 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC boosted its position in Evertec by 3.1% during the first quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 67,979 shares of the business services provider’s stock valued at $1,081,000 after purchasing an additional 2,055 shares during the last quarter. American International Group Inc. boosted its position in Evertec by 7.0% during the first quarter. American International Group Inc. now owns 39,121 shares of the business services provider’s stock valued at $622,000 after purchasing an additional 2,573 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its position in Evertec by 7.5% during the first quarter. Principal Financial Group Inc. now owns 38,689 shares of the business services provider’s stock valued at $615,000 after purchasing an additional 2,699 shares during the last quarter. 77.96% of the stock is owned by hedge funds and other institutional investors.

About Evertec

EVERTEC, Inc is a transaction processing company. The Company provides a range of merchant acquiring, payment processing and business process management services. The Company operates through three segments: Merchant Acquiring, Payment Processing and Business Solutions. As of December 31, 2016, it managed a system of electronic payment networks that processed over two billion transactions annually.

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