Evertec, Inc. (EVTC) Rating Increased to Buy at ValuEngine

Evertec, Inc. (NYSE:EVTC) was upgraded by research analysts at ValuEngine from a “hold” rating to a “buy” rating in a research note issued on Thursday, November 9th.

Several other research analysts also recently issued reports on EVTC. BidaskClub downgraded shares of Evertec from a “sell” rating to a “strong sell” rating in a research note on Friday, October 27th. TheStreet downgraded shares of Evertec from a “b-” rating to a “c+” rating in a research note on Thursday, October 19th. Zacks Investment Research downgraded shares of Evertec from a “hold” rating to a “strong sell” rating in a research note on Monday, October 16th. Deutsche Bank AG dropped their target price on shares of Evertec from $18.00 to $16.00 and set a “hold” rating on the stock in a research note on Wednesday, November 8th. Finally, Cowen and Company reiterated a “hold” rating and issued a $20.00 target price on shares of Evertec in a research note on Thursday, October 12th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $17.83.

Evertec (NYSE:EVTC) traded up $0.50 during trading hours on Thursday, reaching $13.90. 1,222,600 shares of the company traded hands, compared to its average volume of 458,187. Evertec has a 1-year low of $12.60 and a 1-year high of $19.52. The company has a debt-to-equity ratio of 4.08, a current ratio of 1.00 and a quick ratio of 1.00. The company has a market capitalization of $970.03, a price-to-earnings ratio of 8.12, a P/E/G ratio of 1.84 and a beta of 1.18.

Evertec (NYSE:EVTC) last posted its quarterly earnings data on Tuesday, November 7th. The business services provider reported $0.33 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.08). Evertec had a return on equity of 95.54% and a net margin of 15.92%. The business had revenue of $102.70 million for the quarter, compared to the consensus estimate of $97.11 million. During the same period in the previous year, the firm earned $0.41 EPS. The company’s revenue was up 8.7% on a year-over-year basis. analysts anticipate that Evertec will post 1.46 earnings per share for the current year.

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Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of Evertec by 4.4% during the first quarter. Vanguard Group Inc. now owns 5,079,500 shares of the business services provider’s stock valued at $80,764,000 after purchasing an additional 215,429 shares during the last quarter. Rivulet Capital LLC raised its holdings in shares of Evertec by 9.5% during the second quarter. Rivulet Capital LLC now owns 3,201,605 shares of the business services provider’s stock valued at $55,388,000 after purchasing an additional 278,800 shares during the last quarter. Capital Research Global Investors raised its holdings in shares of Evertec by 32.2% during the second quarter. Capital Research Global Investors now owns 2,438,000 shares of the business services provider’s stock valued at $42,177,000 after purchasing an additional 594,000 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of Evertec by 8.0% during the third quarter. American Century Companies Inc. now owns 2,081,518 shares of the business services provider’s stock valued at $32,992,000 after purchasing an additional 154,656 shares during the last quarter. Finally, Boston Partners raised its holdings in shares of Evertec by 79.7% during the third quarter. Boston Partners now owns 1,634,218 shares of the business services provider’s stock valued at $25,902,000 after purchasing an additional 725,051 shares during the last quarter. 79.85% 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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Analyst Recommendations for Evertec (NYSE:EVTC)

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